Empowered Funds LLC Takes Position in NewMarket Corporation $NEU

Key Points

• Empowered Funds LLC acquired 1,817 shares of NewMarket, valued at approximately $1.44 million, during the second quarter. Institutional investors and hedge funds collectively own 61.09% of NEU.
• Analysts recently upgraded NewMarket to “Buy,” and the stock has an average “Buy” rating. NEU opened at $900.04, near its 12-month high of $981.66.
• NewMarket reported quarterly earnings of $14.54 per share on $747.09 million in revenue and declared a $3.00 quarterly dividend, representing a 1.3% yield and a 25.82% payout ratio.

Empowered Funds LLC acquired a new position in shares of NewMarket Corporation (NYSE:NEU - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,817 shares of the specialty chemicals company's stock, valued at approximately $1,438,000.

A number of other institutional investors have also made changes to their positions in NEU. BlackRock Inc. acquired a new stake in NewMarket during the 2nd quarter valued at $556,339,000. Norges Bank acquired a new position in NewMarket in the 4th quarter worth $64,654,000. Caisse de depot et placement du Quebec purchased a new position in NewMarket in the 2nd quarter valued at about $72,517,000. AQR Capital Management LLC boosted its position in NewMarket by 196.7% in the 3rd quarter. AQR Capital Management LLC now owns 137,943 shares of the specialty chemicals company's stock valued at $114,246,000 after buying an additional 91,458 shares during the last quarter. Finally, Corient Private Wealth LLC grew its stake in shares of NewMarket by 7,743.0% during the fourth quarter. Corient Private Wealth LLC now owns 75,763 shares of the specialty chemicals company's stock valued at $52,069,000 after acquiring an additional 74,797 shares in the last quarter. 61.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

NewMarket Trading Down 1.0%

NYSE NEU opened at $900.04 on Friday. The company has a market capitalization of $8.28 billion, a price-to-earnings ratio of 19.36 and a beta of 0.55. 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 company's fifty day moving average price is $847.66 and its two-hundred day moving average price is $741.25.

NewMarket (NYSE:NEU - Get Free Report) last released its earnings results on Wednesday, July 29th. The specialty chemicals company reported $14.54 earnings per share for the quarter. The company had revenue of $747.09 million during the quarter. NewMarket had a net margin of 15.80% and a return on equity of 24.62%.

NewMarket Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 15th will be issued a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Tuesday, September 15th. NewMarket's payout ratio is currently 25.82%.

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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