Amundi Lowers Position in NewMarket Corporation $NEU

Key Points

• Amundi cut its NewMarket stake by 68.8% in the second quarter, selling 1,468 shares and retaining 666 shares valued at approximately $527,000.
• Other institutional investors increased exposure or initiated positions, and hedge funds collectively own 61.09% of NewMarket’s stock.
• NewMarket reported quarterly EPS of $14.54 on $747.09 million in revenue and declared a $3.00 quarterly dividend, equal to a $12.00 annualized payout and a 1.3% yield; analysts maintain a consensus “Buy” rating.

Amundi lessened its stake in shares of NewMarket Corporation (NYSE:NEU - Free Report) by 68.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 666 shares of the specialty chemicals company's stock after selling 1,468 shares during the period. Amundi's holdings in NewMarket were worth $527,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in NewMarket in the 2nd quarter worth approximately $2,250,000. Wedmont Private Capital purchased a new position in NewMarket during the second quarter valued at approximately $264,000. HB Wealth Management LLC boosted its position in shares of NewMarket by 1.1% in the second quarter. HB Wealth Management LLC now owns 30,269 shares of the specialty chemicals company's stock worth $23,950,000 after purchasing an additional 323 shares during the period. AlphaGrep UK Ltd bought a new position in shares of NewMarket in the second quarter worth approximately $247,000. Finally, Round Rock Advisors LLC increased its stake in shares of NewMarket by 10.0% in the second quarter. Round Rock Advisors LLC now owns 596 shares of the specialty chemicals company's stock worth $472,000 after purchasing an additional 54 shares in the last quarter. Hedge funds and other institutional investors own 61.09% of the company's stock.

NewMarket Price Performance

Shares of NYSE:NEU opened at $891.59 on Thursday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.23 and a current ratio of 2.25. The firm has a fifty day moving average price of $864.08 and a 200 day moving average price of $758.52. NewMarket Corporation has a fifty-two week low of $580.03 and a fifty-two week high of $981.66. The firm has a market cap of $8.20 billion, a price-to-earnings ratio of 19.18 and a beta of 0.55.

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

NewMarket Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be issued 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 is 25.82%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on NEU. Wall Street Zen upgraded NewMarket from a "hold" rating to a "buy" rating in a research note on Saturday, August 1st. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of NewMarket in a research note on Wednesday, September 9th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock has a consensus rating of "Buy".

NewMarket Profile

NewMarket Corporation NYSE: NEU is a holding company that develops, manufactures and supplies specialty chemicals, primarily for the petroleum and related industries. Its products are designed to improve the performance, efficiency and durability of fuels, lubricants and other petroleum-based products.

NewMarket operates through its principal subsidiaries, including Afton Chemical Corporation and Ethyl Corporation. Afton Chemical develops and produces fuel and lubricant additives used in automotive, marine, aviation, commercial and industrial applications.

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