BlackRock Inc. Makes New Investment in NewMarket Corporation $NEU

Key Points

• BlackRock acquired 703,123 shares of NewMarket during the second quarter, worth approximately $556.3 million and representing about 7.64% of the company. Institutional investors collectively own 61.09% of NEU.
• Analyst sentiment improved, with Wall Street Zen and Weiss Ratings upgrading NewMarket to “buy”; the stock has a consensus “Buy” rating.
• NewMarket reported quarterly EPS of $14.54 on revenue of $747.09 million and announced a $3.00 quarterly dividend, equivalent to $12.00 annually and a 1.3% yield.

BlackRock Inc. acquired a new position in shares of NewMarket Corporation (NYSE:NEU - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 703,123 shares of the specialty chemicals company's stock, valued at approximately $556,339,000. BlackRock Inc. owned approximately 7.64% of NewMarket at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Entropy Technologies LP acquired a new position in shares of NewMarket during the first quarter valued at about $1,751,000. Northwestern Mutual Wealth Management Co. boosted its stake in NewMarket by 4,647.9% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 5,555 shares of the specialty chemicals company's stock valued at $3,818,000 after purchasing an additional 5,438 shares during the last quarter. Pacer Advisors Inc. increased its holdings in NewMarket by 1,469.5% during the 4th quarter. Pacer Advisors Inc. now owns 30,636 shares of the specialty chemicals company's stock worth $21,055,000 after purchasing an additional 28,684 shares in the last quarter. Natixis Advisors LLC increased its holdings in NewMarket by 12.0% during the 4th quarter. Natixis Advisors LLC now owns 32,238 shares of the specialty chemicals company's stock worth $22,156,000 after purchasing an additional 3,453 shares in the last quarter. Finally, Bank of Nova Scotia raised its stake in shares of NewMarket by 18.0% in the first quarter. Bank of Nova Scotia now owns 7,200 shares of the specialty chemicals company's stock worth $4,615,000 after purchasing an additional 1,100 shares during the last quarter. 61.09% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

NewMarket Price Performance

NewMarket stock opened at $937.66 on Tuesday. The business's 50 day simple moving average is $826.89 and its 200 day simple moving average is $728.33. NewMarket Corporation has a 12 month low of $580.03 and a 12 month high of $981.66. The company has a market cap of $8.63 billion, a price-to-earnings ratio of 20.17 and a beta of 0.56. 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 (NYSE:NEU - Get Free Report) last issued its earnings results on Wednesday, July 29th. The specialty chemicals company reported $14.54 earnings per share (EPS) for the quarter. NewMarket had a return on equity of 24.62% and a net margin of 15.80%.The firm had revenue of $747.09 million for the quarter.

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 paid a $3.00 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $12.00 annualized dividend and a dividend yield of 1.3%. NewMarket's dividend payout ratio (DPR) is presently 25.82%.

NewMarket Profile

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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