Brandywine Global Investment Management LLC Invests $19.35 Million in NewMarket Corporation $NEU

Key Points

• Brandywine Global Investment Management LLC has invested approximately $19.35 million in NewMarket Corporation, acquiring 34,157 shares of the company.
• NewMarket announced a quarterly dividend of $2.75 per share, resulting in an annualized dividend of $11.00 and a yield of 1.4%.
• NewMarket Corporation reported earnings of $11.84 per share for the last quarter, with a revenue of approximately $698.51 million.

Brandywine Global Investment Management LLC acquired a new position in shares of NewMarket Corporation (NYSE:NEU - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 34,157 shares of the specialty chemicals company's stock, valued at approximately $19,348,000. Brandywine Global Investment Management LLC owned 0.36% of NewMarket as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in NEU. Bank of Montreal Can raised its holdings in shares of NewMarket by 8.5% during the fourth quarter. Bank of Montreal Can now owns 908 shares of the specialty chemicals company's stock worth $480,000 after acquiring an additional 71 shares during the period. Legal & General Group Plc raised its holdings in shares of NewMarket by 1.8% during the fourth quarter. Legal & General Group Plc now owns 12,532 shares of the specialty chemicals company's stock worth $6,621,000 after acquiring an additional 226 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of NewMarket during the fourth quarter worth $1,613,000. Bessemer Group Inc. raised its holdings in shares of NewMarket by 166.7% during the fourth quarter. Bessemer Group Inc. now owns 48 shares of the specialty chemicals company's stock worth $25,000 after acquiring an additional 30 shares during the period. Finally, Sterling Capital Management LLC raised its holdings in shares of NewMarket by 51.5% during the fourth quarter. Sterling Capital Management LLC now owns 403 shares of the specialty chemicals company's stock worth $213,000 after acquiring an additional 137 shares during the period. 61.09% of the stock is currently owned by institutional investors and hedge funds.

NewMarket Stock Up 1.8%

Shares of NYSE:NEU traded up $14.29 during midday trading on Wednesday, reaching $793.08. 88,812 shares of the company were exchanged, compared to its average volume of 74,953. NewMarket Corporation has a fifty-two week low of $480.00 and a fifty-two week high of $794.46. The company has a quick ratio of 1.43, a current ratio of 2.66 and a debt-to-equity ratio of 0.52. The stock has a fifty day simple moving average of $710.50 and a two-hundred day simple moving average of $623.84. The firm has a market cap of $7.45 billion, a PE ratio of 15.72 and a beta of 0.45.

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

NewMarket Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be paid a $2.75 dividend. This represents a $11.00 annualized dividend and a yield of 1.4%. The ex-dividend date is Monday, September 15th. NewMarket's payout ratio is presently 21.80%.

NewMarket Profile

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.