Quantbot Technologies LP Invests $1.32 Million in NewMarket Corporation $NEU

Key Points

• Quantbot Technologies LP acquired a stake of 2,327 shares in NewMarket Corporation, valued at approximately $1,318,000, during the first quarter of 2023.
• Institutional investors collectively own 61.09% of NewMarket's stock, with other firms like Vanguard Group and Allspring Global Investments also increasing their holdings.
• NewMarket declared a quarterly dividend of $2.75 per share, with an annualized dividend of $11.00 and a current payout ratio of 21.80%.

Quantbot Technologies LP purchased a new position in NewMarket Corporation (NYSE:NEU - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 2,327 shares of the specialty chemicals company's stock, valued at approximately $1,318,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB grew its position in NewMarket by 557.1% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 46 shares of the specialty chemicals company's stock worth $26,000 after purchasing an additional 39 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its position in NewMarket by 587.5% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 55 shares of the specialty chemicals company's stock worth $31,000 after purchasing an additional 47 shares during the last quarter. Private Trust Co. NA grew its position in NewMarket by 185.2% in the 1st 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 during the last quarter. Whipplewood Advisors LLC grew its position in NewMarket by 7,700.0% in the 1st quarter. Whipplewood Advisors LLC now owns 78 shares of the specialty chemicals company's stock worth $44,000 after purchasing an additional 77 shares during the last quarter. Finally, UMB Bank n.a. grew its position in NewMarket by 39.2% in the 1st 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 during the last quarter. 61.09% of the stock is currently owned by institutional investors and hedge funds.

NewMarket Stock Performance

NYSE NEU traded down $3.14 during midday trading on Thursday, hitting $819.41. The company had a trading volume of 38,305 shares, compared to its average volume of 77,431. The company has a quick ratio of 1.43, a current ratio of 2.66 and a debt-to-equity ratio of 0.52. The stock has a market cap of $7.70 billion, a price-to-earnings ratio of 16.24 and a beta of 0.45. The firm has a fifty day simple moving average of $729.16 and a two-hundred day simple moving average of $635.35. NewMarket Corporation has a fifty-two week low of $480.00 and a fifty-two week high of $824.99.

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

NewMarket Dividend Announcement

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 paid 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 (DPR) is currently 21.80%.

About NewMarket

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.