Impala Asset Management LLC Acquires Shares of 65,000 NewMarket Corporation $NEU

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

Several other institutional investors and hedge funds also recently made changes to their positions in NEU. BNP Paribas Financial Markets grew its stake in shares of NewMarket by 96.3% during the 4th quarter. BNP Paribas Financial Markets now owns 2,777 shares of the specialty chemicals company's stock worth $1,467,000 after acquiring an additional 1,362 shares during the period. Cetera Investment Advisers grew its stake in shares of NewMarket by 25.1% during the 4th quarter. Cetera Investment Advisers now owns 1,537 shares of the specialty chemicals company's stock worth $812,000 after acquiring an additional 308 shares during the period. Cubist Systematic Strategies LLC bought a new position in shares of NewMarket during the 4th quarter worth $212,000. Ethic Inc. grew its stake in shares of NewMarket by 29.4% during the 4th quarter. Ethic Inc. now owns 2,007 shares of the specialty chemicals company's stock worth $1,060,000 after acquiring an additional 456 shares during the period. Finally, Janus Henderson Group PLC grew its stake in shares of NewMarket by 16.2% during the 4th quarter. Janus Henderson Group PLC now owns 3,583 shares of the specialty chemicals company's stock worth $1,890,000 after acquiring an additional 500 shares during the period. Institutional investors own 61.09% of the company's stock.

NewMarket Stock Performance

Shares of NYSE NEU opened at $827.81 on Wednesday. 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's 50-day moving average is $755.19 and its 200 day moving average is $653.44. The stock has a market cap of $7.78 billion, a price-to-earnings ratio of 16.41 and a beta of 0.49. NewMarket Corporation has a 1-year low of $480.00 and a 1-year high of $835.10.

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

NewMarket Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors 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 dividend yield of 1.3%. NewMarket's payout ratio is currently 21.80%.

Wall Street Analysts Forecast Growth

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

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