Massachusetts Financial Services Co. MA Invests $1.42 Million in NewMarket Corporation $NEU

Key Points

• Massachusetts Financial Services acquired a new stake in NewMarket (NYSE: NEU) of 2,067 shares valued at approximately $1.42 million in the fourth quarter.
• Director Ting Xu bought 400 shares on Feb. 24 at an average price of $619.21 (≈$247,684), boosting their holdings to 929 shares — a 75.61% increase.
• NewMarket reported quarterly EPS of $8.65, declared a quarterly dividend of $3.00 (annualized $12.00, ~1.9% yield), and was downgraded by Weiss Ratings from a "buy" to a "hold."

Massachusetts Financial Services Co. MA acquired a new position in shares of NewMarket Corporation (NYSE:NEU - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 2,067 shares of the specialty chemicals company's stock, valued at approximately $1,421,000.

A number of other hedge funds have also modified their holdings of NEU. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of NewMarket by 100.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78 shares of the specialty chemicals company's stock worth $44,000 after buying an additional 39 shares in the last quarter. NewEdge Advisors LLC grew its holdings in shares of NewMarket by 1,442.4% during the first quarter. NewEdge Advisors LLC now owns 509 shares of the specialty chemicals company's stock worth $288,000 after buying an additional 476 shares in the last quarter. United Services Automobile Association bought a new position in shares of NewMarket during the first quarter worth about $266,000. Empowered Funds LLC grew its holdings in shares of NewMarket by 4.8% during the first quarter. Empowered Funds LLC now owns 1,562 shares of the specialty chemicals company's stock worth $885,000 after buying an additional 72 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of NewMarket by 9.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 22,268 shares of the specialty chemicals company's stock worth $12,614,000 after buying an additional 1,995 shares in the last quarter. 61.09% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Ting Xu purchased 400 shares of NewMarket stock in a transaction that occurred on Tuesday, February 24th. The stock was purchased at an average cost of $619.21 per share, with a total value of $247,684.00. Following the completion of the transaction, the director owned 929 shares of the company's stock, valued at approximately $575,246.09. This trade represents a 75.61% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 8.60% of the company's stock.

NewMarket Stock Performance

NEU opened at $632.43 on Friday. The business's 50-day simple moving average is $628.23 and its 200 day simple moving average is $701.19. NewMarket Corporation has a 52-week low of $555.28 and a 52-week high of $875.97. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 2.53. The firm has a market capitalization of $5.94 billion, a PE ratio of 14.24 and a beta of 0.48.

NewMarket (NYSE:NEU - Get Free Report) last issued its quarterly earnings results on Wednesday, February 11th. The specialty chemicals company reported $8.65 EPS for the quarter. NewMarket had a return on equity of 25.38% and a net margin of 15.37%.The firm had revenue of $635.40 million during the quarter.

NewMarket Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Monday, March 16th were given a dividend of $3.00 per share. The ex-dividend date of this dividend was Monday, March 16th. This represents a $12.00 annualized dividend and a yield of 1.9%. NewMarket's dividend payout ratio is 27.01%.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded NewMarket from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday, March 20th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the company has an average rating of "Hold".

NewMarket Company Profile

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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