NewMarket Corporation $NEU Shares Bought by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. increased its stake in NewMarket (NYSE:NEU) by 1.9% in Q4 to 828,798 shares, representing 8.82% ownership valued at $569.6 million.
• Director Ting Xu purchased 400 shares at an average price of $619.21 on Feb. 24, raising their ownership to 929 shares—a 75.61% increase.
• NewMarket announced a quarterly dividend of $3.00 per share (annualized $12.00) with an ex-dividend/record date of June 15 and a payment date of July 1, implying about a 1.8% yield.

Vanguard Group Inc. raised its holdings in NewMarket Corporation (NYSE:NEU - Free Report) by 1.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 828,798 shares of the specialty chemicals company's stock after acquiring an additional 15,813 shares during the period. Vanguard Group Inc. owned 8.82% of NewMarket worth $569,600,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Ameriflex Group Inc. acquired a new position in NewMarket in the 3rd quarter valued at $27,000. Winnow Wealth LLC acquired a new position in NewMarket in the 3rd quarter valued at $29,000. Root Financial Partners LLC acquired a new position in NewMarket in the 3rd quarter valued at $30,000. Smartleaf Asset Management LLC raised its holdings in NewMarket by 125.0% in the 3rd quarter. Smartleaf Asset Management LLC now owns 45 shares of the specialty chemicals company's stock valued at $37,000 after acquiring an additional 25 shares during the last quarter. Finally, Quent Capital LLC acquired a new position in NewMarket in the 3rd quarter valued at $43,000. 61.09% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Ting Xu acquired 400 shares of the stock in a transaction dated Tuesday, February 24th. The stock was bought at an average cost of $619.21 per share, with a total value of $247,684.00. Following the purchase, the director directly owned 929 shares of the company's stock, valued at approximately $575,246.09. This represents a 75.61% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 8.60% of the stock is owned by corporate insiders.

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 equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has an average rating of "Hold".

NewMarket Stock Up 1.4%

Shares of NYSE NEU opened at $678.30 on Tuesday. NewMarket Corporation has a 52-week low of $580.03 and a 52-week high of $875.97. The firm has a fifty day moving average of $634.22 and a 200-day moving average of $689.56. The stock has a market capitalization of $6.24 billion, a PE ratio of 15.49 and a beta of 0.52. The company has a quick ratio of 1.37, a current ratio of 2.55 and a debt-to-equity ratio of 0.54.

NewMarket (NYSE:NEU - Get Free Report) last announced its quarterly earnings data on Wednesday, April 22nd. The specialty chemicals company reported $12.62 earnings per share (EPS) for the quarter. NewMarket had a net margin of 15.25% and a return on equity of 24.12%. The company had revenue of $669.72 million during the quarter.

NewMarket Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th will be paid a dividend of $3.00 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $12.00 annualized dividend and a dividend yield of 1.8%. NewMarket's payout ratio is currently 27.41%.

NewMarket 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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