Blue Edge Capital LLC Decreases Holdings in NewMarket Corporation $NEU

Key Points

• Blue Edge Capital cut its NewMarket stake by 61.5% in the second quarter, selling 3,100 shares and retaining 1,938 shares valued at approximately $1.53 million. Institutional investors collectively own 61.09% of the company.
• 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 also declared a quarterly dividend of $3.00, representing a 1.4% yield.
• NEU shares opened at $862.70, down 0.6%, while analysts maintained a generally positive outlook; MarketBeat data shows a consensus “Buy” rating.

Blue Edge Capital LLC decreased its holdings in NewMarket Corporation (NYSE:NEU - Free Report) by 61.5% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,938 shares of the specialty chemicals company's stock after selling 3,100 shares during the period. Blue Edge Capital LLC's holdings in NewMarket were worth $1,533,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC bought a new position in shares of NewMarket during the fourth quarter valued at about $25,000. Trust Co. of Vermont bought a new position in NewMarket during the 2nd quarter worth approximately $28,000. International Assets Investment Management LLC purchased a new position in NewMarket in the 4th quarter worth approximately $27,000. Quarry LP purchased a new position in shares of NewMarket in the third quarter worth $52,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA raised its holdings in NewMarket by 50.0% during the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 75 shares of the specialty chemicals company's stock valued at $52,000 after buying an additional 25 shares during the last quarter. Hedge funds and other institutional investors own 61.09% of the company's stock.

NewMarket Stock Down 0.6%

NEU stock opened at $862.70 on Thursday. The stock has a market capitalization of $7.94 billion, a P/E ratio of 18.56 and a beta of 0.55. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.25 and a quick ratio of 1.23. NewMarket Corporation has a 1-year low of $580.03 and a 1-year high of $981.66. The business has a fifty day moving average price of $854.55 and a 200-day moving average price of $748.99.

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 firm 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 announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be issued a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Tuesday, September 15th. NewMarket's dividend payout ratio (DPR) is 25.82%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on NEU shares. Weiss Ratings upgraded shares of NewMarket from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, June 12th. Wall Street Zen upgraded NewMarket from a "hold" rating to a "buy" rating in a report on Saturday, August 1st. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, NewMarket presently 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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