Hsbc Holdings PLC Has $251,000 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 holdings in shares of NewMarket Corporation (NYSE:NEU - Free Report) by 45.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm 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.

Other large investors also recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB lifted its position in NewMarket by 557.1% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 46 shares of the specialty chemicals company's stock valued at $26,000 after purchasing an additional 39 shares during the period. Caitong International Asset Management Co. Ltd raised its position in shares of NewMarket by 587.5% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 55 shares of the specialty chemicals company's stock valued at $31,000 after acquiring an additional 47 shares during the period. Whipplewood Advisors LLC raised its position in shares of NewMarket by 7,700.0% in the 1st quarter. Whipplewood Advisors LLC now owns 78 shares of the specialty chemicals company's stock valued at $44,000 after acquiring an additional 77 shares during the period. Private Trust Co. NA raised its position in shares of NewMarket by 185.2% in the 1st quarter. Private Trust Co. NA now owns 77 shares of the specialty chemicals company's stock valued at $44,000 after acquiring an additional 50 shares during the period. Finally, UMB Bank n.a. raised its position in shares of NewMarket by 39.2% in the 1st quarter. UMB Bank n.a. now owns 103 shares of the specialty chemicals company's stock valued at $58,000 after acquiring an additional 29 shares during the period. 61.09% of the stock is currently owned by institutional investors and hedge funds.

NewMarket Stock Up 1.6%

NEU stock traded up $12.89 during mid-day trading on Wednesday, hitting $836.87. 111,208 shares of the company were exchanged, compared to its average volume of 91,957. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.43 and a current ratio of 2.66. The firm has a market cap of $7.87 billion, a P/E ratio of 16.59 and a beta of 0.49. The firm's 50 day simple moving average is $757.53 and its 200 day simple moving average is $654.71. NewMarket Corporation has a 1-year low of $480.00 and a 1-year high of $843.76.

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

NewMarket Dividend Announcement

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

Wall Street Analysts Forecast Growth

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

NewMarket 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.