Blue Edge Capital LLC Takes $1.53 Million Position in NewMarket Corporation $NEU

Key Points

• Blue Edge Capital acquired 1,938 NewMarket shares worth approximately $1.53 million during the second quarter. Institutional investors and hedge funds collectively own 61.09% of the company.
• NewMarket reported quarterly EPS of $14.54 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, or $12.00 annually, representing a 1.3% yield. Analysts cited in the article have an average “Buy” rating, while shares recently traded at $924.77.

Blue Edge Capital LLC acquired a new stake in NewMarket Corporation (NYSE:NEU - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 1,938 shares of the specialty chemicals company's stock, valued at approximately $1,533,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. bought a new stake in shares of NewMarket during the 2nd quarter worth about $556,339,000. Norges Bank bought a new position in shares of NewMarket in the fourth quarter valued at approximately $64,654,000. Caisse de depot et placement du Quebec acquired a new position in shares of NewMarket during the second quarter valued at approximately $72,517,000. AQR Capital Management LLC increased its stake in shares of NewMarket by 196.7% during the third quarter. AQR Capital Management LLC now owns 137,943 shares of the specialty chemicals company's stock valued at $114,246,000 after acquiring an additional 91,458 shares during the period. Finally, Corient Private Wealth LLC raised its holdings in NewMarket by 7,743.0% during the fourth quarter. Corient Private Wealth LLC now owns 75,763 shares of the specialty chemicals company's stock worth $52,069,000 after purchasing an additional 74,797 shares in the last quarter. 61.09% of the stock is owned by institutional investors and hedge funds.

NewMarket Trading Down 0.1%

Shares of NYSE:NEU opened at $924.77 on Friday. The firm has a fifty day moving average of $835.96 and a two-hundred day moving average of $732.77. The company has a quick ratio of 1.23, a current ratio of 2.25 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. The firm has a market capitalization of $8.51 billion, a P/E ratio of 19.90 and a beta of 0.56.

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

NewMarket Dividend Announcement

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

Analyst Ratings Changes

A number of research firms have recently commented on NEU. Weiss Ratings raised NewMarket from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, June 12th. Wall Street Zen raised NewMarket from a "hold" rating to a "buy" rating in a research note on Saturday, August 1st. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of "Buy".

NewMarket Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source