Caisse de depot et placement du Quebec Takes Position in NewMarket Corporation $NEU

Key Points

• Caisse de depot et placement du Quebec acquired 91,650 NewMarket shares worth approximately $72.5 million, giving it a 1.0% stake. Institutional investors 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 per share, or $12.00 annualized, representing a 1.3% yield. Analysts maintain an overall “Buy” rating, while shares recently traded near $924.77.

Caisse de depot et placement du Quebec bought a new position in shares of NewMarket Corporation (NYSE:NEU - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 91,650 shares of the specialty chemicals company's stock, valued at approximately $72,517,000. Caisse de depot et placement du Quebec owned 1.00% of NewMarket as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in NEU. Los Angeles Capital Management LLC acquired a new stake in NewMarket during the 4th quarter worth approximately $25,000. Trust Co. of Vermont purchased a new stake in shares of NewMarket during the second quarter worth approximately $28,000. International Assets Investment Management LLC purchased a new stake in shares of NewMarket during the fourth quarter worth approximately $27,000. Quarry LP acquired a new stake in shares of NewMarket during the third quarter worth $52,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA lifted its holdings in shares of NewMarket by 50.0% during the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 75 shares of the specialty chemicals company's stock worth $52,000 after purchasing an additional 25 shares during the period. Hedge funds and other institutional investors own 61.09% of the company's stock.

NewMarket Stock Down 0.1%

NEU opened at $924.77 on Friday. 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 12 month low of $580.03 and a 12 month high of $981.66. The stock has a market capitalization of $8.51 billion, a P/E ratio of 19.90 and a beta of 0.56. The business has a 50 day simple moving average of $835.96 and a 200-day simple moving average of $732.77.

NewMarket (NYSE:NEU - Get Free Report) last released its quarterly earnings data 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 during the quarter. NewMarket had a return on equity of 24.62% and a net margin of 15.80%.

NewMarket Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors 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 25.82%.

Analysts Set New Price Targets

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

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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