NewEdge Wealth LLC Purchases Shares of 3,684 NewMarket Corporation $NEU

Key Points

• NewEdge Wealth acquired 3,684 NewMarket shares in the second quarter, worth approximately $2.915 million. Institutional investors collectively own 61.09% of the specialty chemicals company.
• Analyst sentiment has improved, with Wall Street Zen and Weiss Ratings upgrading NewMarket to “buy”; the stock currently carries an average “Buy” rating.
• NewMarket reported quarterly revenue of $747.09 million and earnings of $14.54 per share, while declaring a $3.00 quarterly dividend, equivalent to a 1.3% yield and $12.00 annualized payout.

NewEdge Wealth LLC acquired a new position in shares of NewMarket Corporation (NYSE:NEU - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,684 shares of the specialty chemicals company's stock, valued at approximately $2,915,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Entropy Technologies LP bought a new stake in NewMarket in the first quarter valued at approximately $1,751,000. Northwestern Mutual Wealth Management Co. lifted its position in shares of 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 buying an additional 5,438 shares during the last quarter. Pacer Advisors Inc. boosted its stake in shares of NewMarket by 1,469.5% during the 4th quarter. Pacer Advisors Inc. now owns 30,636 shares of the specialty chemicals company's stock worth $21,055,000 after acquiring an additional 28,684 shares during the period. Natixis Advisors LLC lifted its holdings in NewMarket by 12.0% during the 4th quarter. Natixis Advisors LLC now owns 32,238 shares of the specialty chemicals company's stock valued at $22,156,000 after purchasing an additional 3,453 shares during the last quarter. Finally, Bank of Nova Scotia grew its stake in NewMarket by 18.0% in the 1st quarter. Bank of Nova Scotia now owns 7,200 shares of the specialty chemicals company's stock valued at $4,615,000 after buying an additional 1,100 shares during the last quarter. Institutional investors and hedge funds own 61.09% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on NEU. Wall Street Zen upgraded NewMarket from a "hold" rating to a "buy" rating in a research note on Saturday, August 1st. Weiss Ratings raised NewMarket from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, June 12th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Buy".

NewMarket Price Performance

Shares of NYSE NEU opened at $928.99 on Friday. The firm's 50-day moving average price is $822.32 and its 200-day moving average price is $724.79. NewMarket Corporation has a 1-year low of $580.03 and a 1-year high of $981.66. The firm has a market capitalization of $8.55 billion, a P/E ratio of 19.99 and a beta of 0.56. The company has a current ratio of 2.25, a quick ratio of 1.23 and a debt-to-equity ratio of 0.47.

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

NewMarket Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 15th will be given a $3.00 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $12.00 annualized dividend and a yield of 1.3%. NewMarket's dividend payout ratio (DPR) is presently 25.82%.

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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