34,157 Shares in NewMarket Corporation $NEU Bought by Brandywine Global Investment Management LLC

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

A number of other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in NewMarket by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 744,723 shares of the specialty chemicals company's stock worth $421,848,000 after acquiring an additional 13,411 shares during the last quarter. LSV Asset Management raised its holdings in NewMarket by 1.0% in the 1st quarter. LSV Asset Management now owns 205,047 shares of the specialty chemicals company's stock worth $116,149,000 after acquiring an additional 2,121 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in NewMarket by 8.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 185,858 shares of the specialty chemicals company's stock worth $105,300,000 after acquiring an additional 15,155 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in NewMarket by 2.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 170,218 shares of the specialty chemicals company's stock worth $89,938,000 after acquiring an additional 4,621 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in NewMarket by 54,160.0% in the 1st quarter. GAMMA Investing LLC now owns 103,094 shares of the specialty chemicals company's stock worth $58,398,000 after acquiring an additional 102,904 shares during the last quarter. 61.09% of the stock is currently owned by hedge funds and other institutional investors.

NewMarket Stock Up 0.6%

NYSE NEU traded up $4.9650 during mid-day trading on Thursday, reaching $796.1950. The stock had a trading volume of 170,733 shares, compared to its average volume of 75,491. The stock has a market cap of $7.48 billion, a PE ratio of 15.73 and a beta of 0.45. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.66 and a quick ratio of 1.43. The company has a fifty day moving average price of $713.03 and a 200 day moving average price of $624.99. NewMarket Corporation has a 1 year low of $480.00 and a 1 year high of $800.20.

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

NewMarket Dividend Announcement

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

NewMarket Company 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.