Russell Investments Group Ltd. Has $2.59 Million Holdings in NewMarket Corporation $NEU

Key Points

• Russell Investments Group Ltd. has decreased its holdings in NewMarket Corporation by 35.4%, owning 4,570 shares worth approximately $2.59 million after selling 2,505 shares in the first quarter.
• NewMarket Corporation reported earnings of $11.84 per share for the last quarter, with total revenue of $698.51 million.
• The company announced a quarterly dividend of $2.75, representing an annualized dividend of $11.00 and a yield of 1.4%, with the dividend payout ratio at 21.80%.

Russell Investments Group Ltd. reduced its position in shares of NewMarket Corporation (NYSE:NEU - Free Report) by 35.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,570 shares of the specialty chemicals company's stock after selling 2,505 shares during the quarter. Russell Investments Group Ltd.'s holdings in NewMarket were worth $2,589,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of NewMarket by 1.8% in the first quarter. Vanguard Group Inc. now owns 744,723 shares of the specialty chemicals company's stock valued at $421,848,000 after purchasing an additional 13,411 shares during the period. LSV Asset Management raised its position in shares of NewMarket by 1.0% in the first quarter. LSV Asset Management now owns 205,047 shares of the specialty chemicals company's stock valued at $116,149,000 after purchasing an additional 2,121 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of NewMarket by 8.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 185,858 shares of the specialty chemicals company's stock valued at $105,300,000 after purchasing an additional 15,155 shares during the period. Dimensional Fund Advisors LP raised its position in shares of NewMarket by 2.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 170,218 shares of the specialty chemicals company's stock valued at $89,938,000 after purchasing an additional 4,621 shares during the period. Finally, GAMMA Investing LLC raised its position in shares of NewMarket by 54,160.0% in the first quarter. GAMMA Investing LLC now owns 103,094 shares of the specialty chemicals company's stock valued at $58,398,000 after purchasing an additional 102,904 shares during the period. 61.09% of the stock is owned by institutional investors.

NewMarket Stock Performance

Shares of NEU traded up $0.08 during trading hours on Thursday, hitting $822.62. The company had a trading volume of 70,843 shares, compared to its average volume of 77,642. The firm has a market cap of $7.73 billion, a price-to-earnings ratio of 16.31 and a beta of 0.45. The business has a fifty day moving average of $729.16 and a 200-day moving average of $635.35. NewMarket Corporation has a 12 month low of $480.00 and a 12 month high of $825.07. The company has a quick ratio of 1.43, a current ratio of 2.66 and a debt-to-equity ratio of 0.52.

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

NewMarket Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be paid a $2.75 dividend. The ex-dividend date is Monday, September 15th. This represents a $11.00 annualized dividend and a dividend yield of 1.3%. NewMarket's dividend payout ratio is 21.80%.

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.