Jump Financial LLC Takes Position in NewMarket Corporation $NEU

Key Points

• Jump Financial LLC invested $505,000 to acquire 891 shares of NewMarket Corporation, indicating significant interest in the specialty chemicals sector.
• NewMarket faced a rating downgrade from buy to hold by Wall Street analysts, which may affect investor sentiment.
• The company recently announced a quarterly dividend of $2.75 per share, contributing to a dividend yield of 1.3%.

Jump Financial LLC acquired a new stake in shares of NewMarket Corporation (NYSE:NEU - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 891 shares of the specialty chemicals company's stock, valued at approximately $505,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC grew its holdings in 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 buying an additional 102,904 shares in the last quarter. American Century Companies Inc. grew its holdings in 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 buying an additional 57,403 shares in the last quarter. Brandywine Global Investment Management LLC bought a new stake in NewMarket during the first quarter worth $19,348,000. Northern Trust Corp grew its holdings in NewMarket by 23.8% during the fourth quarter. Northern Trust Corp now owns 80,156 shares of the specialty chemicals company's stock worth $42,350,000 after buying an additional 15,424 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in 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 buying an additional 15,155 shares in the last quarter. Institutional investors own 61.09% of the company's stock.

NewMarket Stock Performance

NYSE:NEU traded down $6.41 during trading on Friday, reaching $813.78. The company's stock had a trading volume of 79,059 shares, compared to its average volume of 96,705. The firm has a market cap of $7.65 billion, a price-to-earnings ratio of 16.13 and a beta of 0.49. 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 firm has a 50 day moving average of $750.05 and a 200-day moving average of $649.58. NewMarket Corporation has a 12 month low of $480.00 and a 12 month high of $835.10.

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

NewMarket Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be given a dividend of $2.75 per share. This represents a $11.00 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Monday, September 15th. NewMarket's dividend payout ratio is currently 21.80%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded NewMarket from a "buy" rating to a "hold" rating in a report 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.