Algorithmic Investment Models LLC Buys New Position in NewMarket Corporation $NEU

Key Points

• Algorithmic Investment Models LLC has acquired a new position in NewMarket Corporation for approximately $626,000, purchasing 1,105 shares during the first quarter.
• Institutional investors own 61.09% of NewMarket's stock, with GAMMA Investing LLC increasing its stake by a remarkable 54,160.0% in the same period.
• NewMarket has announced a quarterly dividend of $2.75 to be paid on October 1st, reflecting an annualized dividend yield of 1.3% and a payout ratio of 21.80%.

Algorithmic Investment Models LLC acquired a new position in shares of NewMarket Corporation (NYSE:NEU - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 1,105 shares of the specialty chemicals company's stock, valued at approximately $626,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Dark Forest Capital Management LP purchased a new position in NewMarket during the first quarter worth $4,070,000. Cubist Systematic Strategies LLC boosted its holdings in NewMarket by 587.3% during the 1st quarter. Cubist Systematic Strategies LLC now owns 2,756 shares of the specialty chemicals company's stock valued at $1,561,000 after acquiring an additional 2,355 shares during the period. Vident Advisory LLC purchased a new position in NewMarket during the 1st quarter valued at $371,000. Caisse DE Depot ET Placement DU Quebec boosted its holdings in NewMarket by 785.9% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 15,405 shares of the specialty chemicals company's stock valued at $8,726,000 after acquiring an additional 13,666 shares during the period. Finally, Jump Financial LLC purchased a new position in NewMarket during the 1st quarter valued at $505,000. 61.09% of the stock is owned by hedge funds and other institutional investors.

NewMarket Stock Down 0.8%

Shares of NEU stock traded down $6.41 during mid-day trading on Friday, hitting $813.78. The stock had a trading volume of 79,059 shares, compared to its average volume of 96,705. NewMarket Corporation has a 12-month low of $480.00 and a 12-month high of $835.10. The firm has a market capitalization of $7.65 billion, a P/E ratio of 16.13 and a beta of 0.49. The firm's 50-day moving average is $750.05 and its two-hundred day moving average is $648.85. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.66 and a quick ratio of 1.43.

NewMarket (NYSE:NEU - Get Free Report) last issued its earnings results on Wednesday, July 30th. The specialty chemicals company reported $11.84 earnings per share for the quarter. The business had revenue of $698.51 million during the quarter. NewMarket had a return on equity of 32.25% and a net margin of 17.28%.

NewMarket Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be paid a dividend of $2.75 per share. This represents a $11.00 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Monday, September 15th. NewMarket's dividend payout ratio is 21.80%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut NewMarket from a "buy" rating to a "hold" rating in a report on Saturday, August 30th.

About NewMarket

NewMarket Corporation, through its subsidiaries, primarily engages in the manufacture and sale of petroleum additives. The company offers lubricant additives for use in various vehicle and industrial applications, including engine oils, transmission fluids, off-road powertrain and hydraulic systems, gear oils, hydraulic oils, turbine oils, and other applications where metal-to-metal moving parts are utilized; engine oil additives designed for passenger cars, motorcycles, on and off-road heavy duty commercial equipment, locomotives, and engines in ocean-going vessels; driveline additives designed for products, such as transmission fluids, axle fluids, and off-road powertrain fluids; and industrial additives designed for products for industrial applications consisting of hydraulic fluids, grease, industrial gear fluids, and industrial specialty applications, such as turbine oils.