NewMarket Corporation $NEU Shares Sold by Invesco Ltd.

Key Points

• Invesco Ltd. has reduced its stake in NewMarket Corporation by 34.0%, selling 55,076 shares and now holding approximately 1.13% of the company valued at $60.46 million.
• NewMarket recently reported strong quarterly earnings with an EPS of $11.84 and revenue of $698.51 million, alongside a net margin of 17.28%.
• The company has announced a quarterly dividend of $2.75, translating to an annualized dividend yield of 1.4%, to be paid on October 1st.

Invesco Ltd. lowered its position in NewMarket Corporation (NYSE:NEU - Free Report) by 34.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 106,728 shares of the specialty chemicals company's stock after selling 55,076 shares during the period. Invesco Ltd. owned approximately 1.13% of NewMarket worth $60,456,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Covestor Ltd raised its position in NewMarket by 17.8% during the 1st quarter. Covestor Ltd now owns 291 shares of the specialty chemicals company's stock worth $165,000 after buying an additional 44 shares during the last quarter. Cynosure Group LLC increased its stake in shares of NewMarket by 7.6% in the first quarter. Cynosure Group LLC now owns 611 shares of the specialty chemicals company's stock worth $346,000 after acquiring an additional 43 shares during the period. Maryland State Retirement & Pension System purchased a new position in shares of NewMarket during the first quarter worth $211,000. Charles Schwab Investment Management Inc. lifted its position in NewMarket by 0.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 82,821 shares of the specialty chemicals company's stock valued at $46,914,000 after purchasing an additional 474 shares during the period. Finally, Vanguard Group Inc. lifted its position in NewMarket by 1.8% during 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. Institutional investors and hedge funds own 61.09% of the company's stock.

NewMarket Stock Performance

NEU traded up $2.5720 during midday trading on Thursday, hitting $793.8020. 5,869 shares of the company were exchanged, compared to its average volume of 74,660. The company's 50 day simple moving average is $713.03 and its 200 day simple moving average is $624.99. The firm has a market capitalization of $7.46 billion, a price-to-earnings ratio of 15.76 and a beta of 0.45. NewMarket Corporation has a 1-year low of $480.00 and a 1-year high of $800.20. The company has a current ratio of 2.66, a quick ratio of 1.43 and a debt-to-equity ratio of 0.52.

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

NewMarket Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be paid a dividend of $2.75 per share. 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 (DPR) is presently 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.