JLB & Associates Inc. Takes Position in NewMarket Corporation $NEU

Key Points

• JLB & Associates Inc. acquired 419 shares of NewMarket Corporation, valued at approximately $289,000, marking a new investment in the specialty chemicals firm.
• NewMarket's quarterly earnings reported earnings per share of $11.84, with a net margin of 17.28% and a revenue of $698.51 million.
• The company declared a $2.75 per share quarterly dividend with an annual yield of 1.3%, scheduled for payment on October 1st, which reflects a payout ratio of 21.80%.

JLB & Associates Inc. acquired a new stake in NewMarket Corporation (NYSE:NEU - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 419 shares of the specialty chemicals company's stock, valued at approximately $289,000.

Other hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC raised its position in NewMarket by 54,160.0% in the first 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. Impala Asset Management LLC acquired a new position in shares of NewMarket in the 1st quarter worth approximately $36,819,000. American Century Companies Inc. raised its holdings in shares of NewMarket by 120.3% in the 1st 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 acquired a new stake in NewMarket during the first quarter valued at approximately $19,348,000. Finally, Jones Financial Companies Lllp lifted its stake in NewMarket by 70,700.0% during the first quarter. Jones Financial Companies Lllp now owns 15,576 shares of the specialty chemicals company's stock valued at $8,823,000 after purchasing an additional 15,554 shares during the last quarter. 61.09% of the stock is owned by institutional investors and hedge funds.

NewMarket Stock Down 1.5%

Shares of NYSE:NEU opened at $817.34 on Tuesday. 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 company has a market cap of $7.68 billion, a PE ratio of 16.20 and a beta of 0.49. NewMarket Corporation has a 52 week low of $480.00 and a 52 week high of $854.75. The firm has a 50 day simple moving average of $781.68 and a 200 day simple moving average of $681.20.

NewMarket (NYSE:NEU - Get Free Report) last posted 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 Dividend Announcement

The firm 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. 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 payout ratio is presently 21.80%.

Analyst Ratings Changes

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

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.

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