Hancock Whitney Corp Purchases Shares of 1,570 NewMarket Corporation $NEU

Key Points

• Hancock Whitney Corp acquired a new stake in NewMarket Corporation, purchasing 1,570 shares valued at approximately $889,000 in the first quarter.
• NewMarket recently reported $11.84 EPS and revenue of $698.51 million for the last quarter, demonstrating a solid return on equity of 32.25%.
• The company declared a quarterly dividend of $2.75, with an annualized dividend yield of 1.4%, set to be paid on October 1st.

Hancock Whitney Corp acquired a new stake in shares of NewMarket Corporation (NYSE:NEU - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,570 shares of the specialty chemicals company's stock, valued at approximately $889,000.

Other institutional investors have also recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB lifted its position in shares of NewMarket by 557.1% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 46 shares of the specialty chemicals company's stock worth $26,000 after buying an additional 39 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its position in shares of NewMarket by 587.5% in the first quarter. Caitong International Asset Management Co. Ltd now owns 55 shares of the specialty chemicals company's stock worth $31,000 after buying an additional 47 shares during the last quarter. Whipplewood Advisors LLC lifted its position in shares of NewMarket by 7,700.0% in the first quarter. Whipplewood Advisors LLC now owns 78 shares of the specialty chemicals company's stock worth $44,000 after buying an additional 77 shares during the last quarter. Private Trust Co. NA lifted its position in shares of NewMarket by 185.2% in the first quarter. Private Trust Co. NA now owns 77 shares of the specialty chemicals company's stock worth $44,000 after buying an additional 50 shares during the last quarter. Finally, UMB Bank n.a. lifted its position in shares of NewMarket by 39.2% in the first quarter. UMB Bank n.a. now owns 103 shares of the specialty chemicals company's stock worth $58,000 after buying an additional 29 shares during the last quarter. Institutional investors and hedge funds own 61.09% of the company's stock.

NewMarket Stock Performance

Shares of NYSE NEU traded up $13.20 during trading hours on Thursday, hitting $849.47. 55,775 shares of the company's stock were exchanged, compared to its average volume of 78,216. NewMarket Corporation has a 1-year low of $480.00 and a 1-year high of $850.86. 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 stock has a market capitalization of $7.99 billion, a price-to-earnings ratio of 16.84 and a beta of 0.49. The company's 50-day moving average price is $757.53 and its 200-day moving average price is $654.71.

NewMarket (NYSE:NEU - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The specialty chemicals company reported $11.84 earnings per share (EPS) for the quarter. The firm had revenue of $698.51 million for 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. Shareholders 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 1.3%. NewMarket's dividend payout ratio is 21.80%.

Analyst Upgrades and Downgrades

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

About NewMarket

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.