Man Group plc Purchases New Holdings in NewMarket Corporation $NEU

Key Points

• Man Group acquired 2,214 shares of NewMarket in the second quarter, worth approximately $1.75 million. Institutional investors and hedge funds collectively own 61.09% of the company.
• NewMarket reported quarterly EPS of $14.54 on revenue of $747.09 million, with a 15.80% net margin and 24.62% return on equity.
• The company declared a quarterly dividend of $3.00 per share, equivalent to $12.00 annually and a 1.3% yield. NewMarket’s stock was recently trading at $902.39, while analysts maintained a consensus “Buy” rating.

Man Group plc acquired a new position in NewMarket Corporation (NYSE:NEU - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 2,214 shares of the specialty chemicals company's stock, valued at approximately $1,752,000.

Several other large investors have also recently bought and sold shares of the company. Entropy Technologies LP acquired a new position in shares of NewMarket during the first quarter valued at $1,751,000. Northwestern Mutual Wealth Management Co. boosted its holdings in NewMarket by 4,647.9% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 5,555 shares of the specialty chemicals company's stock valued at $3,818,000 after acquiring an additional 5,438 shares during the last quarter. Pacer Advisors Inc. increased its position in NewMarket by 1,469.5% in the fourth quarter. Pacer Advisors Inc. now owns 30,636 shares of the specialty chemicals company's stock worth $21,055,000 after purchasing an additional 28,684 shares during the period. Natixis Advisors LLC increased its position in NewMarket by 12.0% in the fourth quarter. Natixis Advisors LLC now owns 32,238 shares of the specialty chemicals company's stock worth $22,156,000 after purchasing an additional 3,453 shares during the period. Finally, BlackRock Inc. bought a new stake in NewMarket during the 2nd quarter worth about $556,339,000. Institutional investors and hedge funds own 61.09% of the company's stock.

NewMarket Stock Performance

NEU stock opened at $902.39 on Wednesday. NewMarket Corporation has a twelve month low of $580.03 and a twelve month high of $981.66. The company has a quick ratio of 1.23, a current ratio of 2.25 and a debt-to-equity ratio of 0.47. The company has a market cap of $8.30 billion, a P/E ratio of 19.41 and a beta of 0.55. The business's fifty day moving average is $843.32 and its 200-day moving average is $736.87.

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

NewMarket Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be issued a dividend of $3.00 per share. The ex-dividend date is Tuesday, September 15th. This represents a $12.00 dividend on an annualized basis and a yield of 1.3%. NewMarket's dividend payout ratio (DPR) is 25.82%.

Analysts Set New Price Targets

NEU has been the topic of a number of research reports. Weiss Ratings upgraded shares of NewMarket from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, June 12th. Wall Street Zen upgraded shares of NewMarket from a "hold" rating to a "buy" rating in a research report on Saturday, August 1st. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, NewMarket has a consensus rating of "Buy".

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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