Charles Schwab Investment Management Inc. Grows Holdings in NewMarket Corporation $NEU

Key Points

• Charles Schwab Investment Management Inc. increased its stake in NewMarket Corporation by 0.6%, owning a total of 82,821 shares valued at approximately $46.9 million.
• NewMarket announced a quarterly dividend of $2.75 per share, translating to an annualized dividend of $11.00 and a yield of 1.4%.
• The company's stock opened at $765.29 with a market cap of $7.19 billion and a PE ratio of 15.17, indicating strong market performance.

Charles Schwab Investment Management Inc. raised its stake in shares of NewMarket Corporation (NYSE:NEU - Free Report) by 0.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 82,821 shares of the specialty chemicals company's stock after purchasing an additional 474 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.88% of NewMarket worth $46,914,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in NEU. Bessemer Group Inc. increased its position in NewMarket by 166.7% during the 4th quarter. Bessemer Group Inc. now owns 48 shares of the specialty chemicals company's stock valued at $25,000 after purchasing an additional 30 shares during the period. MassMutual Private Wealth & Trust FSB increased its position in NewMarket by 557.1% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 46 shares of the specialty chemicals company's stock valued at $26,000 after purchasing an additional 39 shares during the period. Whipplewood Advisors LLC increased its position in NewMarket by 7,700.0% during the 1st quarter. Whipplewood Advisors LLC now owns 78 shares of the specialty chemicals company's stock valued at $44,000 after purchasing an additional 77 shares during the period. Private Trust Co. NA increased its position in NewMarket by 185.2% during the 1st quarter. Private Trust Co. NA now owns 77 shares of the specialty chemicals company's stock valued at $44,000 after purchasing an additional 50 shares during the period. Finally, UMB Bank n.a. increased its position in NewMarket by 39.2% during the 1st quarter. UMB Bank n.a. now owns 103 shares of the specialty chemicals company's stock valued at $58,000 after purchasing an additional 29 shares during the period. 61.09% of the stock is owned by hedge funds and other institutional investors.

NewMarket Trading Up 1.1%

NewMarket stock traded up $8.7820 during mid-day trading on Thursday, reaching $800.0120. 253,417 shares of the company traded hands, compared to its average volume of 76,422. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.66 and a quick ratio of 1.43. The firm's 50 day moving average price is $715.91 and its 200 day moving average price is $627.17. The firm has a market capitalization of $7.52 billion, a price-to-earnings ratio of 15.86 and a beta of 0.45. NewMarket Corporation has a 52-week low of $480.00 and a 52-week high of $800.70.

NewMarket (NYSE:NEU - Get Free Report) last released its earnings results on Wednesday, July 30th. The specialty chemicals company reported $11.84 earnings per share for the quarter. The firm 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 Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 1.4%. NewMarket's dividend payout ratio is currently 21.80%.

NewMarket Company 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.