Nuveen LLC Makes New $7.67 Million Investment in NewMarket Corporation $NEU

Key Points

• Nuveen LLC acquired 13,542 shares of NewMarket Corporation for approximately $7.67 million, raising its stake to 0.14% of the company.
• NewMarket announced a quarterly dividend of $2.75, set to be paid on October 1, with an annualized dividend of $11.00 representing a yield of 1.4%.
• As of now, institutional investors and hedge funds collectively own 61.09% of NewMarket's stock, reflecting significant interest in the specialty chemicals company.

Nuveen LLC acquired a new stake in NewMarket Corporation (NYSE:NEU - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 13,542 shares of the specialty chemicals company's stock, valued at approximately $7,671,000. Nuveen LLC owned 0.14% of NewMarket as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB raised its position in NewMarket by 557.1% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 46 shares of the specialty chemicals company's stock valued at $26,000 after acquiring an additional 39 shares in the last quarter. Whipplewood Advisors LLC raised its position in NewMarket by 7,700.0% during the first quarter. Whipplewood Advisors LLC now owns 78 shares of the specialty chemicals company's stock valued at $44,000 after acquiring an additional 77 shares in the last quarter. Private Trust Co. NA boosted its position in NewMarket by 185.2% during 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. UMB Bank n.a. boosted its position in NewMarket by 39.2% during 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. Finally, Kapitalo Investimentos Ltda purchased a new position in NewMarket during the fourth quarter worth approximately $59,000. 61.09% of the stock is currently owned by hedge funds and other institutional investors.

NewMarket Price Performance

NEU stock traded up $0.08 during mid-day trading on Thursday, reaching $822.62. 70,843 shares of the company's stock were exchanged, compared to its average volume of 77,642. The company has a market cap of $7.73 billion, a price-to-earnings ratio of 16.31 and a beta of 0.45. The stock's 50 day moving average is $729.16 and its 200 day moving average is $635.35. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.66 and a quick ratio of 1.43. NewMarket Corporation has a 12-month low of $480.00 and a 12-month high of $825.07.

NewMarket (NYSE:NEU - Get Free Report) last issued its quarterly 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 for the quarter. NewMarket had a return on equity of 32.25% and a net margin of 17.28%.

NewMarket Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be given a dividend of $2.75 per share. The ex-dividend date is Monday, September 15th. This represents a $11.00 dividend on an annualized basis and a yield of 1.3%. NewMarket's dividend payout ratio is currently 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.