Northern Trust Corp Boosts Stock Position in NewMarket Corporation $NEU

Key Points

• Northern Trust Corp has increased its stake in NewMarket Corporation by 3.8%, acquiring an additional 3,051 shares, bringing its total ownership to 83,207 shares valued at approximately $47.1 million.
• NewMarket Corporation has announced a quarterly dividend of $2.75 per share, representing an annualized dividend of $11.00 with a yield of 1.3%, payable on October 1st.
• NewMarket reported a quarterly earnings per share of $11.84 and a revenue of $698.51 million, indicating strong financial performance with a return on equity of 32.25%.

Northern Trust Corp boosted its stake in shares of NewMarket Corporation (NYSE:NEU - Free Report) by 3.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 83,207 shares of the specialty chemicals company's stock after buying an additional 3,051 shares during the period. Northern Trust Corp owned 0.88% of NewMarket worth $47,133,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NEU. Raymond James Financial Inc. acquired a new position in NewMarket during the fourth quarter worth $1,613,000. Hsbc Holdings PLC acquired a new position in NewMarket during the fourth quarter worth $438,000. Price T Rowe Associates Inc. MD boosted its stake in NewMarket by 10.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,493 shares of the specialty chemicals company's stock worth $2,374,000 after buying an additional 421 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in NewMarket during the fourth quarter worth $1,798,000. Finally, Kapitalo Investimentos Ltda purchased a new stake in NewMarket in the fourth quarter valued at $59,000. Institutional investors and hedge funds own 61.09% of the company's stock.

NewMarket Trading Down 0.1%

Shares of NEU stock traded down $0.60 on Tuesday, hitting $826.36. The stock had a trading volume of 89,587 shares, compared to its average volume of 93,452. 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 has a market capitalization of $7.77 billion, a P/E ratio of 16.38 and a beta of 0.49. NewMarket Corporation has a 1 year low of $480.00 and a 1 year high of $835.10. The company's 50 day moving average price is $741.98 and its 200-day moving average price is $644.02.

NewMarket (NYSE:NEU - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The specialty chemicals company reported $11.84 earnings per share (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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be issued a $2.75 dividend. This represents a $11.00 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Monday, September 15th. NewMarket's payout ratio is currently 21.80%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded NewMarket from a "buy" rating to a "hold" rating in a research report on Saturday.

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.