5,503 Shares in NewMarket Corporation $NEU Purchased by The Manufacturers Life Insurance Company

Key Points

• The Manufacturers Life Insurance Company purchased 5,503 NewMarket shares worth approximately $4.35 million in the second quarter, joining other institutional investors; institutions and hedge funds own 61.09% of NEU.
• NewMarket reported quarterly earnings of $14.54 per share on revenue of $747.09 million, with a 15.80% net margin and 24.62% return on equity.
• The company declared a quarterly dividend of $3.00 per share, equivalent to $12.00 annually and a 1.3% yield. Analysts tracked by MarketBeat hold a consensus “Buy” rating.

The Manufacturers Life Insurance Company bought a new stake in shares of NewMarket Corporation (NYSE:NEU - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 5,503 shares of the specialty chemicals company's stock, valued at approximately $4,354,000. The Manufacturers Life Insurance Company owned 0.06% of NewMarket at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of NEU. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of NewMarket by 100.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78 shares of the specialty chemicals company's stock worth $44,000 after purchasing an additional 39 shares in the last quarter. NewEdge Advisors LLC grew its holdings in shares of NewMarket by 1,442.4% in the first quarter. NewEdge Advisors LLC now owns 509 shares of the specialty chemicals company's stock valued at $288,000 after purchasing an additional 476 shares in the last quarter. United Services Automobile Association purchased a new stake in NewMarket during the 1st quarter worth approximately $266,000. Empowered Funds LLC increased its stake in NewMarket by 4.8% during the 1st quarter. Empowered Funds LLC now owns 1,562 shares of the specialty chemicals company's stock worth $885,000 after buying an additional 72 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in NewMarket by 9.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 22,268 shares of the specialty chemicals company's stock worth $12,614,000 after buying an additional 1,995 shares in the last quarter. 61.09% of the stock is owned by institutional investors and hedge funds.

NewMarket Stock Performance

Shares of NEU stock opened at $897.87 on Tuesday. The company has a market cap of $8.26 billion, a P/E ratio of 19.32 and a beta of 0.56. The firm has a fifty day moving average price of $841.03 and a 200 day moving average price of $735.43. The company has a current ratio of 2.25, a quick ratio of 1.23 and a debt-to-equity ratio of 0.47. NewMarket Corporation has a 12 month low of $580.03 and a 12 month high of $981.66.

NewMarket (NYSE:NEU - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The specialty chemicals company reported $14.54 earnings per share for the quarter. The company had revenue of $747.09 million for the quarter. NewMarket had a return on equity of 24.62% and a net margin of 15.80%.

NewMarket Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be given a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Tuesday, September 15th. NewMarket's dividend payout ratio (DPR) is 25.82%.

Analyst Upgrades and Downgrades

Several brokerages have commented on NEU. Weiss Ratings raised shares of NewMarket from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, June 12th. Wall Street Zen raised NewMarket from a "hold" rating to a "buy" rating in a research report on Saturday, August 1st. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, NewMarket currently has a consensus rating of "Buy".

About NewMarket

NewMarket Corporation is a specialty chemicals and lubricants company headquartered in Richmond, Virginia. Through its Valvoline business, the company markets a broad portfolio of automotive aftermarket products, including engine oils, transmission fluids, greases and vehicle care solutions. Valvoline products are distributed through retail and commercial channels as well as a network of quick-lube service centers that provide oil changes, preventive maintenance and related services.

In its chemical additives segment, NewMarket develops, manufactures and sells performance additives for fuels, lubricants and industrial fluids.

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