Hsbc Holdings PLC Trims Holdings in NewMarket Corporation $NEU

Key Points

• Hsbc Holdings PLC reduced its stake in NewMarket Corporation by 45.4% during Q1, now holding 449 shares valued at $251,000.
• NewMarket recently announced a quarterly dividend of $2.75, with an ex-dividend date of September 15th, representing an annualized yield of 1.3%.
• Wall Street Zen downgraded NewMarket from a "buy" to a "hold" rating, signaling a shift in analyst sentiment regarding the company's stock outlook.

Hsbc Holdings PLC cut its position in NewMarket Corporation (NYSE:NEU - Free Report) by 45.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 449 shares of the specialty chemicals company's stock after selling 374 shares during the period. Hsbc Holdings PLC's holdings in NewMarket were worth $251,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of NEU. Northern Trust Corp increased its stake in shares of NewMarket by 23.8% in the fourth quarter. Northern Trust Corp now owns 80,156 shares of the specialty chemicals company's stock worth $42,350,000 after purchasing an additional 15,424 shares in the last quarter. BNP Paribas Financial Markets increased its stake in shares of NewMarket by 96.3% in the fourth quarter. BNP Paribas Financial Markets now owns 2,777 shares of the specialty chemicals company's stock worth $1,467,000 after purchasing an additional 1,362 shares in the last quarter. Cetera Investment Advisers increased its stake in shares of NewMarket by 25.1% in the fourth quarter. Cetera Investment Advisers now owns 1,537 shares of the specialty chemicals company's stock worth $812,000 after purchasing an additional 308 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of NewMarket in the fourth quarter worth $212,000. Finally, Fiduciary Trust Co increased its stake in shares of NewMarket by 262.3% in the fourth quarter. Fiduciary Trust Co now owns 2,210 shares of the specialty chemicals company's stock worth $1,168,000 after purchasing an additional 1,600 shares in the last quarter. 61.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

NewMarket Price Performance

Shares of NYSE:NEU traded down $6.41 during midday trading on Friday, reaching $813.78. 79,059 shares of the company were exchanged, compared to its average volume of 96,705. NewMarket Corporation has a one year low of $480.00 and a one year high of $835.10. 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 business's fifty day moving average is $750.05 and its two-hundred day moving average is $650.29. The stock has a market cap of $7.65 billion, a PE ratio of 16.13 and a beta of 0.49.

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

NewMarket Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be given a dividend of $2.75 per share. The ex-dividend date is Monday, September 15th. This represents a $11.00 annualized dividend and a yield of 1.4%. NewMarket's dividend payout ratio (DPR) is 21.80%.

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.