CHICAGO TRUST Co NA Buys New Holdings in NewMarket Corporation $NEU

Key Points

• CHICAGO TRUST Co NA has acquired 315 shares of NewMarket Corporation, valued at approximately $218,000, as part of its new investment strategy in Q2.
• NewMarket is set to pay a quarterly dividend of $2.75 on October 1st, with a current yield of 1.3% and a payout ratio of 21.80%.
• Wall Street analysts downgraded NewMarket from a "buy" to a "hold" rating, signaling a cautious outlook on the stock's performance.

CHICAGO TRUST Co NA bought a new stake in NewMarket Corporation (NYSE:NEU - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 315 shares of the specialty chemicals company's stock, valued at approximately $218,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in NewMarket by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 744,723 shares of the specialty chemicals company's stock valued at $421,848,000 after purchasing an additional 13,411 shares during the last quarter. LSV Asset Management boosted its stake in NewMarket by 1.0% during the 1st quarter. LSV Asset Management now owns 205,047 shares of the specialty chemicals company's stock valued at $116,149,000 after purchasing an additional 2,121 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in NewMarket by 8.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 185,858 shares of the specialty chemicals company's stock valued at $105,300,000 after purchasing an additional 15,155 shares during the last quarter. American Century Companies Inc. boosted its stake in NewMarket by 120.3% during the 1st quarter. American Century Companies Inc. now owns 105,120 shares of the specialty chemicals company's stock valued at $59,545,000 after purchasing an additional 57,403 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in NewMarket by 54,160.0% during the 1st quarter. GAMMA Investing LLC now owns 103,094 shares of the specialty chemicals company's stock valued at $58,398,000 after purchasing an additional 102,904 shares during the last quarter. 61.09% of the stock is owned by institutional investors.

NewMarket Price Performance

Shares of NYSE NEU opened at $818.20 on Thursday. NewMarket Corporation has a twelve month low of $480.00 and a twelve month high of $854.75. The stock's 50 day moving average price is $776.11 and its 200-day moving average price is $673.13. The company has a market capitalization of $7.69 billion, a PE ratio of 16.22 and a beta of 0.49. The company has a quick ratio of 1.43, a current ratio of 2.66 and a debt-to-equity ratio of 0.52.

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. NewMarket had a return on equity of 32.25% and a net margin of 17.28%.The firm had revenue of $698.51 million for the quarter.

NewMarket Announces Dividend

The company also recently disclosed 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 1.3%. NewMarket's dividend payout ratio is presently 21.80%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded NewMarket from a "buy" rating to a "hold" rating in a research note on Saturday, August 30th.

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.

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