Quantbot Technologies LP Acquires Shares of 2,327 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 acquired a new stake in shares of NewMarket Corporation (NYSE:NEU - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,327 shares of the specialty chemicals company's stock, valued at approximately $1,318,000.

Several other institutional investors have also bought and sold shares of NEU. Vanguard Group Inc. boosted its stake in shares of NewMarket by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 744,723 shares of the specialty chemicals company's stock worth $421,848,000 after purchasing an additional 13,411 shares during the period. LSV Asset Management boosted its stake in shares of NewMarket by 1.0% during the 1st quarter. LSV Asset Management now owns 205,047 shares of the specialty chemicals company's stock worth $116,149,000 after purchasing an additional 2,121 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of NewMarket by 8.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 185,858 shares of the specialty chemicals company's stock worth $105,300,000 after purchasing an additional 15,155 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of NewMarket by 2.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 170,218 shares of the specialty chemicals company's stock worth $89,938,000 after purchasing an additional 4,621 shares during the period. Finally, American Century Companies Inc. boosted its stake in shares of NewMarket by 120.3% during the 1st quarter. American Century Companies Inc. now owns 105,120 shares of the specialty chemicals company's stock worth $59,545,000 after purchasing an additional 57,403 shares during the period. Institutional investors own 61.09% of the company's stock.

NewMarket Price Performance

NEU stock opened at $795.9560 on Friday. NewMarket Corporation has a 12 month low of $480.00 and a 12 month high of $806.98. 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 company has a 50-day moving average price of $718.87 and a 200 day moving average price of $629.17. The stock has a market cap of $7.48 billion, a PE ratio of 15.78 and a beta of 0.45.

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

NewMarket Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be paid a dividend of $2.75 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $11.00 dividend on an annualized basis and a dividend yield of 1.4%. NewMarket's 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.

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