Ieq Capital LLC Invests $4.53 Million in NewMarket Corporation $NEU

Key Points

• Ieq Capital LLC acquired 5,730 shares of NewMarket in the second quarter, valued at approximately $4.53 million and representing about 0.06% of the company. Institutional investors and hedge funds collectively own 61.09% of NewMarket.
• Analyst sentiment improved, with Weiss Ratings and Wall Street Zen upgrading the stock to “buy.” MarketBeat reports an overall average rating of “Buy.”
• NewMarket reported quarterly revenue of $747.09 million and earnings of $14.54 per share, while announcing a quarterly dividend of $3.00, or $12.00 annualized, yielding approximately 1.3%.

Ieq Capital LLC bought a new stake in NewMarket Corporation (NYSE:NEU - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 5,730 shares of the specialty chemicals company's stock, valued at approximately $4,533,000. Ieq Capital LLC owned about 0.06% of NewMarket as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Los Angeles Capital Management LLC purchased a new stake in NewMarket in the fourth quarter valued at approximately $25,000. Trust Co. of Vermont purchased a new position in shares of NewMarket during the second quarter worth approximately $28,000. International Assets Investment Management LLC purchased a new position in shares of NewMarket during the fourth quarter worth approximately $27,000. Quarry LP acquired a new position in shares of NewMarket in the 3rd quarter valued at $52,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA increased its holdings in shares of NewMarket by 50.0% in the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 75 shares of the specialty chemicals company's stock valued at $52,000 after acquiring an additional 25 shares during the period. 61.09% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

NEU has been the subject of several research reports. Weiss Ratings upgraded shares of NewMarket from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, June 12th. Wall Street Zen raised shares of NewMarket from a "hold" rating to a "buy" rating in a research report on Saturday, August 1st. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company presently has an average rating of "Buy".

NewMarket Trading Up 0.2%

Shares of NEU stock opened at $939.22 on Monday. The business's 50 day moving average is $824.45 and its two-hundred day moving average is $726.62. NewMarket Corporation has a twelve month low of $580.03 and a twelve month high of $981.66. The company has a market capitalization of $8.64 billion, a P/E ratio of 20.21 and a beta of 0.56. The company has a current ratio of 2.25, a quick ratio of 1.23 and a debt-to-equity ratio of 0.47.

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

NewMarket Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be paid 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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