NewMarket Corporation $NEU Shares Sold by Squarepoint Ops LLC

Key Points

• Squarepoint Ops LLC cut its NewMarket stake by 56.7% in the second quarter, selling 5,223 shares and retaining 3,983 shares valued at approximately $3.15 million.
• Institutional ownership remains significant at 61.09%, with BlackRock acquiring a new position worth about $556.3 million and other firms also increasing or initiating holdings.
• NewMarket reported quarterly earnings of $14.54 per share on $747.09 million in revenue, while analysts maintain a consensus “Buy” rating. The company also declared a quarterly dividend of $3.00 per share, equivalent to a 1.4% yield.

Squarepoint Ops LLC lowered its holdings in NewMarket Corporation (NYSE:NEU - Free Report) by 56.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,983 shares of the specialty chemicals company's stock after selling 5,223 shares during the quarter. Squarepoint Ops LLC's holdings in NewMarket were worth $3,152,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Entropy Technologies LP acquired a new stake in shares of NewMarket during the first quarter valued at about $1,751,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of NewMarket by 4,647.9% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 5,555 shares of the specialty chemicals company's stock worth $3,818,000 after purchasing an additional 5,438 shares during the period. Pacer Advisors Inc. increased its holdings in NewMarket by 1,469.5% in the 4th quarter. Pacer Advisors Inc. now owns 30,636 shares of the specialty chemicals company's stock valued at $21,055,000 after purchasing an additional 28,684 shares during the last quarter. BlackRock Inc. acquired a new stake in NewMarket in the 2nd quarter valued at approximately $556,339,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in NewMarket in the 2nd quarter valued at approximately $4,354,000. 61.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Weiss Ratings restated a "buy (b-)" rating on shares of NewMarket in a research note on Wednesday. Wall Street Zen raised NewMarket from a "hold" rating to a "buy" rating in a research note on Saturday, August 1st. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of "Buy".

NewMarket Trading Up 0.0%

NYSE NEU opened at $887.29 on Monday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.23 and a current ratio of 2.25. The firm has a market cap of $8.16 billion, a price-to-earnings ratio of 19.09 and a beta of 0.55. The firm has a 50 day simple moving average of $858.52 and a 200-day simple moving average of $752.95. NewMarket Corporation has a one year low of $580.03 and a one year high of $981.66.

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

NewMarket Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be paid a $3.00 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $12.00 annualized dividend and a dividend yield of 1.4%. NewMarket's payout ratio is 25.82%.

About NewMarket

NewMarket Corporation NYSE: NEU is a holding company that develops, manufactures and supplies specialty chemicals, primarily for the petroleum and related industries. Its products are designed to improve the performance, efficiency and durability of fuels, lubricants and other petroleum-based products.

NewMarket operates through its principal subsidiaries, including Afton Chemical Corporation and Ethyl Corporation. Afton Chemical develops and produces fuel and lubricant additives used in automotive, marine, aviation, commercial and industrial applications.

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