SCS Capital Management LLC Invests $6.05 Million in NewMarket Corporation $NEU

Key Points

• SCS Capital Management acquired 7,613 NewMarket shares worth approximately $6.05 million, representing about 0.08% of the company. Institutional investors and hedge funds collectively own 61.09% of NEU.
• Analysts have recently upgraded NewMarket, and the stock carries a consensus “Buy” rating. Shares opened at $959.36, near the company’s 12-month high of $961.98.
• NewMarket reported quarterly revenue of $747.09 million and EPS of $14.54, while announcing a $3.00 quarterly dividend, equivalent to $12.00 annually and a 1.3% yield.

SCS Capital Management LLC bought a new position in shares of NewMarket Corporation (NYSE:NEU - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 7,613 shares of the specialty chemicals company's stock, valued at approximately $6,047,000. SCS Capital Management LLC owned about 0.08% of NewMarket as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NEU. Norges Bank purchased a new position in NewMarket in the fourth quarter valued at approximately $64,654,000. AQR Capital Management LLC lifted its position in shares of NewMarket by 196.7% during the 3rd quarter. AQR Capital Management LLC now owns 137,943 shares of the specialty chemicals company's stock worth $114,246,000 after buying an additional 91,458 shares during the last quarter. Caisse de depot et placement du Quebec boosted its holdings in shares of NewMarket by 376.4% in the 3rd quarter. Caisse de depot et placement du Quebec now owns 99,256 shares of the specialty chemicals company's stock valued at $82,205,000 after buying an additional 78,422 shares in the last quarter. Corient Private Wealth LLC boosted its holdings in shares of NewMarket by 7,743.0% in the 4th quarter. Corient Private Wealth LLC now owns 75,763 shares of the specialty chemicals company's stock valued at $52,069,000 after buying an additional 74,797 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in shares of NewMarket in the 2nd quarter valued at $56,245,000. 61.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Wall Street Zen upgraded shares of NewMarket from a "hold" rating to a "buy" rating in a research note on Saturday, August 1st. Weiss Ratings upgraded shares of NewMarket from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, June 12th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of "Buy".

NewMarket Stock Performance

Shares of NEU opened at $959.36 on Monday. 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 has a market cap of $8.83 billion, a PE ratio of 20.64 and a beta of 0.56. The company's 50 day simple moving average is $812.96 and its 200-day simple moving average is $716.88. NewMarket Corporation has a 12-month low of $580.03 and a 12-month high of $961.98.

NewMarket (NYSE:NEU - Get Free Report) last announced its earnings results on Wednesday, July 29th. The specialty chemicals company reported $14.54 EPS 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 for the quarter.

NewMarket Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be paid a $3.00 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $12.00 dividend on an annualized basis and a yield of 1.3%. NewMarket's payout ratio is currently 25.82%.

About NewMarket

NewMarket Corporation is a specialty chemicals and lubricants company headquartered in Richmond, Virginia. Through its Valvoline business, the company markets a broad portfolio of automotive aftermarket products, including engine oils, transmission fluids, greases and vehicle care solutions. Valvoline products are distributed through retail and commercial channels as well as a network of quick-lube service centers that provide oil changes, preventive maintenance and related services.

In its chemical additives segment, NewMarket develops, manufactures and sells performance additives for fuels, lubricants and industrial fluids.

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