CCM Investment Group LLC Invests $462,000 in NewMarket Corporation (NYSE:NEU)

Key Points

• CCM Investment Group LLC invested approximately $462,000 in NewMarket Corporation by acquiring 836 shares of the company in the first quarter.
• NewMarket recently declared a quarterly dividend of $2.75, representing a 1.5% yield and an annualized dividend of $11.00.
• As of Monday, NewMarket's stock opened at $737.97, with a market capitalization of $6.94 billion and a PE ratio of 14.63.

CCM Investment Group LLC purchased a new position in shares of NewMarket Corporation (NYSE:NEU - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 836 shares of the specialty chemicals company's stock, valued at approximately $462,000.

Several other institutional investors have also recently made changes to their positions in the stock. Crossmark Global Holdings Inc. bought a new position in shares of NewMarket during the 1st quarter worth approximately $257,000. Private Trust Co. NA boosted its stake in shares of NewMarket by 185.2% during the 1st quarter. Private Trust Co. NA now owns 77 shares of the specialty chemicals company's stock worth $44,000 after acquiring an additional 50 shares during the period. Farther Finance Advisors LLC boosted its stake in shares of NewMarket by 34.1% during the 1st quarter. Farther Finance Advisors LLC now owns 444 shares of the specialty chemicals company's stock worth $252,000 after acquiring an additional 113 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in shares of NewMarket by 45.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 718 shares of the specialty chemicals company's stock worth $407,000 after acquiring an additional 223 shares during the period. Finally, Allianz Asset Management GmbH boosted its stake in shares of NewMarket by 15.1% during the 1st quarter. Allianz Asset Management GmbH now owns 3,993 shares of the specialty chemicals company's stock worth $2,262,000 after acquiring an additional 523 shares during the period. Institutional investors and hedge funds own 61.09% of the company's stock.

NewMarket Stock Performance

NEU traded down $4.57 during trading on Friday, hitting $761.76. The stock had a trading volume of 20,125 shares, compared to its average volume of 75,065. The company has a 50 day moving average price of $703.27 and a 200-day moving average price of $617.34. The firm has a market cap of $7.16 billion, a price-to-earnings ratio of 15.12 and a beta of 0.45. NewMarket Corporation has a one year low of $480.00 and a one year high of $776.39. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.66 and a quick ratio of 1.43.

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

NewMarket Announces Dividend

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