HB Wealth Management LLC Has $2.78 Million Stock Holdings in NewMarket Corporation $NEU

Key Points

• HB Wealth Management LLC reduced its stake in NewMarket Corporation by 86.7% in the second quarter, now holding shares worth $2.78 million.
• NewMarket's stock rose 1.5%, with a market cap of $7.90 billion and a PE ratio of 16.65, reflecting strong financial health.
• The company announced a quarterly dividend of $2.75 per share, resulting in an annual yield of 1.3% and a payout ratio of 21.80%.

HB Wealth Management LLC decreased its position in NewMarket Corporation (NYSE:NEU - Free Report) by 86.7% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 4,029 shares of the specialty chemicals company's stock after selling 26,306 shares during the period. HB Wealth Management LLC's holdings in NewMarket were worth $2,783,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Parallel Advisors LLC raised its stake in shares of NewMarket by 2.1% during the 2nd quarter. Parallel Advisors LLC now owns 740 shares of the specialty chemicals company's stock worth $511,000 after purchasing an additional 15 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of NewMarket by 13.1% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 198 shares of the specialty chemicals company's stock worth $112,000 after purchasing an additional 23 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of NewMarket by 12.6% during the 2nd quarter. GAMMA Investing LLC now owns 205 shares of the specialty chemicals company's stock worth $142,000 after purchasing an additional 23 shares in the last quarter. Federated Hermes Inc. raised its stake in shares of NewMarket by 4.0% during the 1st quarter. Federated Hermes Inc. now owns 722 shares of the specialty chemicals company's stock worth $409,000 after purchasing an additional 28 shares in the last quarter. Finally, UMB Bank n.a. raised its stake in shares of NewMarket by 39.2% during the 1st quarter. UMB Bank n.a. now owns 103 shares of the specialty chemicals company's stock worth $58,000 after purchasing an additional 29 shares in the last quarter. Institutional investors and hedge funds own 61.09% of the company's stock.

NewMarket Stock Up 1.5%

NEU opened at $840.23 on Thursday. NewMarket Corporation has a 1-year low of $480.00 and a 1-year high of $854.75. The stock's fifty day simple moving average is $786.04 and its 200 day simple moving average is $683.32. The company has a current ratio of 2.66, a quick ratio of 1.43 and a debt-to-equity ratio of 0.52. The stock has a market cap of $7.90 billion, a PE ratio of 16.65 and a beta of 0.46.

NewMarket (NYSE:NEU - Get Free Report) last posted its quarterly 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 business had revenue of $698.51 million for the quarter.

NewMarket Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th were given a dividend of $2.75 per share. The ex-dividend date was Monday, September 15th. This represents a $11.00 annualized dividend and a yield of 1.3%. NewMarket's dividend payout ratio (DPR) is presently 21.80%.

Analyst Ratings Changes

Separately, Wall Street Zen cut NewMarket from a "buy" rating to a "hold" rating in a research note 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.

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