65,000 Shares in NewMarket Corporation $NEU Bought by Impala Asset Management LLC

Key Points

• Impala Asset Management LLC acquired 65,000 shares of NewMarket Corporation, valued at approximately $36.8 million, making it the largest position in their investment portfolio at 23.8%.
• NewMarket announced a quarterly dividend of $2.75 per share, with an ex-dividend date of September 15, reflecting an annualized dividend yield of 1.3%.
• Wall Street analysts recently downgraded NewMarket's stock rating from "buy" to "hold," suggesting a more cautious outlook on its performance.

Impala Asset Management LLC bought a new position in shares of NewMarket Corporation (NYSE:NEU - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 65,000 shares of the specialty chemicals company's stock, valued at approximately $36,819,000. NewMarket accounts for 23.8% of Impala Asset Management LLC's holdings, making the stock its largest position. Impala Asset Management LLC owned 0.69% of NewMarket as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of NEU. GAMMA Investing LLC raised its position in shares of NewMarket by 54,160.0% in the 1st quarter. GAMMA Investing LLC now owns 103,094 shares of the specialty chemicals company's stock worth $58,398,000 after acquiring an additional 102,904 shares in the last quarter. American Century Companies Inc. raised its holdings in NewMarket by 120.3% in the first quarter. American Century Companies Inc. now owns 105,120 shares of the specialty chemicals company's stock worth $59,545,000 after purchasing an additional 57,403 shares in the last quarter. Brandywine Global Investment Management LLC bought a new stake in shares of NewMarket in the 1st quarter valued at about $19,348,000. Jones Financial Companies Lllp grew its position in shares of NewMarket by 70,700.0% in the 1st quarter. Jones Financial Companies Lllp now owns 15,576 shares of the specialty chemicals company's stock worth $8,823,000 after buying an additional 15,554 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of NewMarket by 8.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 185,858 shares of the specialty chemicals company's stock worth $105,300,000 after acquiring an additional 15,155 shares in the last quarter. Institutional investors own 61.09% of the company's stock.

Analyst Ratings Changes

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

NewMarket Stock Performance

NEU traded down $0.54 during trading on Monday, reaching $834.22. 31,737 shares of the company's stock were exchanged, compared to its average volume of 78,131. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.66 and a quick ratio of 1.43. NewMarket Corporation has a 1 year low of $480.00 and a 1 year high of $854.75. The company's fifty day simple moving average is $761.79 and its 200-day simple moving average is $659.96. The stock has a market capitalization of $7.84 billion, a P/E ratio of 16.54 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 earnings per share for the quarter. NewMarket had a net margin of 17.28% and a return on equity of 32.25%. The firm had revenue of $698.51 million for the quarter.

NewMarket Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors 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 of this dividend is Monday, September 15th. 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.