Jones Financial Companies Lllp Acquires 15,554 Shares of NewMarket Corporation $NEU

Key Points

• Jones Financial Companies Lllp significantly increased its stake in NewMarket Corporation by acquiring an additional 15,554 shares, bringing its total ownership to approximately $8.8 million, a 70,700% increase.
• Other institutional investors also boosted their holdings in NewMarket, with increases ranging from 557.1% to 7,700% during the same quarter.
• NewMarket announced a quarterly dividend of $2.75 per share, with a total annualized dividend of $11.00, and a yield of 1.3%.

Jones Financial Companies Lllp raised its holdings in NewMarket Corporation (NYSE:NEU - Free Report) by 70,700.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 15,576 shares of the specialty chemicals company's stock after acquiring an additional 15,554 shares during the quarter. Jones Financial Companies Lllp owned about 0.17% of NewMarket worth $8,823,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in NewMarket by 1.8% in the first quarter. Vanguard Group Inc. now owns 744,723 shares of the specialty chemicals company's stock valued at $421,848,000 after acquiring an additional 13,411 shares during the last quarter. LSV Asset Management boosted its position in shares of NewMarket by 1.0% during the first quarter. LSV Asset Management now owns 205,047 shares of the specialty chemicals company's stock worth $116,149,000 after purchasing an additional 2,121 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of NewMarket by 8.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 185,858 shares of the specialty chemicals company's stock worth $105,300,000 after purchasing an additional 15,155 shares in the last quarter. American Century Companies Inc. boosted its position in shares of NewMarket by 120.3% during 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. Finally, GAMMA Investing LLC boosted its position in shares of NewMarket by 54,160.0% during the first quarter. GAMMA Investing LLC now owns 103,094 shares of the specialty chemicals company's stock worth $58,398,000 after purchasing an additional 102,904 shares in the last quarter. 61.09% of the stock is owned by institutional investors.

NewMarket Stock Down 1.2%

NEU stock traded down $10.36 during midday trading on Friday, hitting $838.58. The company's stock had a trading volume of 71,470 shares, compared to its average volume of 98,598. 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 twelve month low of $480.00 and a twelve month high of $854.75. The company's fifty day moving average price is $761.79 and its 200 day moving average price is $659.96. The stock has a market capitalization of $7.88 billion, a P/E ratio of 16.62 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. The company had revenue of $698.51 million for the quarter. NewMarket had a net margin of 17.28% and a return on equity of 32.25%.

NewMarket Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be issued a $2.75 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $11.00 dividend on an annualized basis and a yield of 1.3%. NewMarket's payout ratio is currently 21.80%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered shares of 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.