JLB & Associates Inc. Buys Shares of 1,438 NewMarket Corporation $NEU

Key Points

• JLB & Associates acquired 1,438 NewMarket shares in the second quarter, worth approximately $1.14 million. Institutional investors collectively own 61.09% of the company.
• Analysts upgraded NewMarket to “Buy,” giving the stock a consensus “Buy” rating. Shares recently traded at $950.14, near their 12-month high of $981.66.
• NewMarket reported quarterly earnings of $14.54 per share on revenue of $747.09 million and declared a quarterly dividend of $3.00, or $12.00 annualized, yielding about 1.3%.

JLB & Associates Inc. purchased a new position in shares of NewMarket Corporation (NYSE:NEU - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 1,438 shares of the specialty chemicals company's stock, valued at approximately $1,138,000.

Other institutional investors also recently modified their holdings of the company. Strs Ohio raised its stake in NewMarket by 12.7% during the first quarter. Strs Ohio now owns 151 shares of the specialty chemicals company's stock worth $97,000 after buying an additional 17 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in NewMarket by 0.3% during the first quarter. The Manufacturers Life Insurance Company now owns 5,253 shares of the specialty chemicals company's stock valued at $3,367,000 after acquiring an additional 17 shares during the last quarter. Kesler Norman & Wride LLC boosted its position in NewMarket by 1.6% during the first quarter. Kesler Norman & Wride LLC now owns 1,227 shares of the specialty chemicals company's stock valued at $786,000 after acquiring an additional 19 shares during the last quarter. Great Lakes Advisors LLC grew its holdings in NewMarket by 5.5% during the 4th quarter. Great Lakes Advisors LLC now owns 366 shares of the specialty chemicals company's stock worth $252,000 after acquiring an additional 19 shares during the period. Finally, Abel Hall LLC grew its holdings in NewMarket by 6.3% during the 4th quarter. Abel Hall LLC now owns 335 shares of the specialty chemicals company's stock worth $230,000 after acquiring an additional 20 shares during the period. 61.09% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on NEU. Wall Street Zen raised NewMarket from a "hold" rating to a "buy" rating in a research note on Saturday, August 1st. Weiss Ratings upgraded NewMarket from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, June 12th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, NewMarket currently has a consensus rating of "Buy".

NewMarket Trading Down 0.1%

NYSE:NEU opened at $950.14 on Wednesday. NewMarket Corporation has a 12 month low of $580.03 and a 12 month high of $981.66. The company has a current ratio of 2.25, a quick ratio of 1.23 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $8.74 billion, a price-to-earnings ratio of 20.44 and a beta of 0.56. The firm has a fifty day simple moving average of $818.49 and a two-hundred day simple moving average of $721.09.

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

NewMarket Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be issued a $3.00 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $12.00 annualized dividend and a yield of 1.3%. NewMarket's dividend payout ratio is presently 25.82%.

About NewMarket

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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