Invesco Ltd. Lowers Stake in NewMarket Corporation $NEU

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. reduced its position in shares of NewMarket Corporation (NYSE:NEU - Free Report) by 34.0% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 106,728 shares of the specialty chemicals company's stock after selling 55,076 shares during the quarter. Invesco Ltd. owned 1.13% of NewMarket worth $60,456,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Federated Hermes Inc. grew its stake in shares of NewMarket by 4.0% in the first quarter. Federated Hermes Inc. now owns 722 shares of the specialty chemicals company's stock worth $409,000 after acquiring an additional 28 shares during the period. UMB Bank n.a. grew its stake 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 acquiring an additional 29 shares during the period. Bessemer Group Inc. grew its stake in shares of NewMarket by 166.7% in the fourth quarter. Bessemer Group Inc. now owns 48 shares of the specialty chemicals company's stock worth $25,000 after acquiring an additional 30 shares during the period. MassMutual Private Wealth & Trust FSB grew its stake 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 acquiring an additional 39 shares during the period. Finally, Alps Advisors Inc. grew its position in NewMarket by 6.3% during the first quarter. Alps Advisors Inc. now owns 675 shares of the specialty chemicals company's stock valued at $382,000 after buying an additional 40 shares during the period. 61.09% of the stock is currently owned by institutional investors.

NewMarket Stock Performance

NYSE NEU traded up $8.7820 during trading hours on Thursday, hitting $800.0120. 253,417 shares of the company's stock traded hands, compared to its average volume of 76,422. The business's fifty day moving average price is $715.91 and its two-hundred day moving average price is $627.17. The company has a current ratio of 2.66, a quick ratio of 1.43 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $7.52 billion, a P/E 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 announced its earnings results on Wednesday, July 30th. The specialty chemicals company reported $11.84 earnings per share (EPS) for the quarter. The company had revenue of $698.51 million during 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. Investors of record on Monday, September 15th will be given a dividend of $2.75 per share. This represents a $11.00 annualized dividend and a yield of 1.4%. The ex-dividend date is Monday, September 15th. NewMarket's 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.