Ethic Inc. Acquires 584 Shares of NewMarket Corporation $NEU

Key Points

• Ethic Inc. has increased its position in NewMarket Corporation shares by 29.1%, now holding a total of 2,591 shares worth approximately $1.47 million.
• Multiple institutional investors significantly raised their stakes in NewMarket in the first quarter, with MassMutual Private Wealth & Trust FSB increasing its stake by an impressive 557.1%.
• NewMarket Corporation announced a $2.75 quarterly dividend with an annualized yield of 1.4%, payable on October 1st to investors of record as of September 15th.

Ethic Inc. lifted its holdings in NewMarket Corporation (NYSE:NEU - Free Report) by 29.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,591 shares of the specialty chemicals company's stock after purchasing an additional 584 shares during the quarter. Ethic Inc.'s holdings in NewMarket were worth $1,468,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. MassMutual Private Wealth & Trust FSB lifted its position in shares of NewMarket by 557.1% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 46 shares of the specialty chemicals company's stock worth $26,000 after purchasing an additional 39 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its position in shares of NewMarket by 587.5% in the first quarter. Caitong International Asset Management Co. Ltd now owns 55 shares of the specialty chemicals company's stock worth $31,000 after purchasing an additional 47 shares in the last quarter. Private Trust Co. NA lifted its position in shares of NewMarket by 185.2% in the first quarter. Private Trust Co. NA now owns 77 shares of the specialty chemicals company's stock worth $44,000 after purchasing an additional 50 shares in the last quarter. Whipplewood Advisors LLC lifted its position in shares of NewMarket by 7,700.0% in the first quarter. Whipplewood Advisors LLC now owns 78 shares of the specialty chemicals company's stock worth $44,000 after purchasing an additional 77 shares in the last quarter. Finally, UMB Bank n.a. lifted its position in shares of NewMarket by 39.2% in the first quarter. UMB Bank n.a. now owns 103 shares of the specialty chemicals company's stock worth $58,000 after purchasing an additional 29 shares in the last quarter. Institutional investors own 61.09% of the company's stock.

NewMarket Stock Down 0.6%

NEU traded down $4.7440 during trading on Friday, reaching $795.9560. 88,098 shares of the stock were exchanged, compared to its average volume of 85,041. The stock has a market cap of $7.48 billion, a P/E ratio of 15.78 and a beta of 0.45. NewMarket Corporation has a twelve month low of $480.00 and a twelve month high of $806.98. The stock's 50 day moving average price is $718.87 and its two-hundred day moving average price is $630.03. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.43 and a current ratio of 2.66.

NewMarket (NYSE:NEU - Get Free Report) last issued its earnings results on Wednesday, July 30th. The specialty chemicals company reported $11.84 earnings per share for the quarter. The business 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 business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be given a $2.75 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $11.00 annualized dividend and a dividend yield of 1.4%. NewMarket's dividend payout ratio is presently 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.