QRG Capital Management Inc. Sells 1,538 Shares of NewMarket Corporation $NEU

Key Points

• QRG Capital Management cut its NewMarket stake by 61.4% in the second quarter, selling 1,538 shares and retaining 966 shares valued at approximately $764,000.
• Institutional investors own 61.09% of NewMarket, while analysts maintain a generally positive outlook with the stock carrying an average “Buy” rating.
• NewMarket reported quarterly revenue of $747.09 million and earnings per share of $14.54, and declared a $3 quarterly dividend, equivalent to a $12 annualized payout and a 1.3% yield.

QRG Capital Management Inc. decreased its holdings in NewMarket Corporation (NYSE:NEU - Free Report) by 61.4% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 966 shares of the specialty chemicals company's stock after selling 1,538 shares during the quarter. QRG Capital Management Inc.'s holdings in NewMarket were worth $764,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NEU. Trust Co. of Vermont bought a new position in NewMarket during the second quarter worth about $28,000. Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its holdings in NewMarket by 50.0% during the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 75 shares of the specialty chemicals company's stock valued at $52,000 after purchasing an additional 25 shares in the last quarter. Johnson Financial Group Inc. bought a new stake in shares of NewMarket in the 2nd quarter valued at approximately $64,000. MV Capital Management Inc. bought a new stake in shares of NewMarket in the 4th quarter valued at approximately $92,000. Finally, Strs Ohio grew its stake in shares of NewMarket by 12.7% in the 1st quarter. Strs Ohio now owns 151 shares of the specialty chemicals company's stock valued at $97,000 after purchasing an additional 17 shares during the period. 61.09% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

NEU has been the subject of several analyst reports. Wall Street Zen raised shares of NewMarket from a "hold" rating to a "buy" rating in a report on Saturday, August 1st. Weiss Ratings restated a "buy (b-)" rating on shares of NewMarket in a research report on Wednesday, September 9th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of "Buy".

NewMarket Price Performance

Shares of NEU stock opened at $912.65 on Tuesday. NewMarket Corporation has a 1 year low of $580.03 and a 1 year high of $981.66. The company has a current ratio of 2.25, a quick ratio of 1.23 and a debt-to-equity ratio of 0.47. The firm's 50 day moving average is $885.01 and its 200-day moving average is $773.33. The firm has a market capitalization of $8.40 billion, a price-to-earnings ratio of 19.64 and a beta of 0.55.

NewMarket (NYSE:NEU - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The specialty chemicals company reported $14.54 earnings per share for the quarter. NewMarket had a net margin of 15.80% and a return on equity of 24.62%. The business had revenue of $747.09 million during the quarter.

NewMarket Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be paid a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Tuesday, September 15th. NewMarket's dividend payout ratio (DPR) is 25.82%.

NewMarket Company Profile

NewMarket Corporation NYSE: NEU is a holding company that develops, manufactures and supplies specialty chemicals, primarily for the petroleum and related industries. Its products are designed to improve the performance, efficiency and durability of fuels, lubricants and other petroleum-based products.

NewMarket operates through its principal subsidiaries, including Afton Chemical Corporation and Ethyl Corporation. Afton Chemical develops and produces fuel and lubricant additives used in automotive, marine, aviation, commercial and industrial applications.

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