SCS Capital Management LLC Purchases Shares of 6,761 NewMarket Corporation $NEU

Key Points

• SCS Capital Management LLC has acquired 6,761 shares of NewMarket Corporation, valued at approximately $3.85 million, indicating increased institutional interest in the company.
• NewMarket Corporation declared a quarterly dividend of $2.75 per share, set to be paid on October 1st, which translates to a 1.3% yield.
• Wall Street analysts have downgraded NewMarket from a "buy" rating to a "hold" rating as of August 30th, reflecting shifting market sentiments.

SCS Capital Management LLC bought a new stake in NewMarket Corporation (NYSE:NEU - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm bought 6,761 shares of the specialty chemicals company's stock, valued at approximately $3,848,000. SCS Capital Management LLC owned 0.07% of NewMarket as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of NEU. BNP Paribas Financial Markets increased its holdings in NewMarket by 96.3% in the 4th quarter. BNP Paribas Financial Markets now owns 2,777 shares of the specialty chemicals company's stock valued at $1,467,000 after buying an additional 1,362 shares during the period. Cetera Investment Advisers boosted its stake in shares of NewMarket by 25.1% in the 4th quarter. Cetera Investment Advisers now owns 1,537 shares of the specialty chemicals company's stock valued at $812,000 after purchasing an additional 308 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of NewMarket in the 4th quarter valued at approximately $212,000. Ethic Inc. boosted its stake in shares of NewMarket by 29.4% in the 4th quarter. Ethic Inc. now owns 2,007 shares of the specialty chemicals company's stock valued at $1,060,000 after purchasing an additional 456 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its stake in shares of NewMarket by 16.2% in the 4th quarter. Janus Henderson Group PLC now owns 3,583 shares of the specialty chemicals company's stock valued at $1,890,000 after purchasing an additional 500 shares in the last quarter. 61.09% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded shares of NewMarket from a "buy" rating to a "hold" rating in a research note on Saturday, August 30th.

NewMarket Trading Down 0.1%

NewMarket stock traded down $0.52 during mid-day trading on Monday, hitting $834.24. 26,835 shares of the stock were exchanged, compared to its average volume of 78,116. The company has a quick ratio of 1.43, a current ratio of 2.66 and a debt-to-equity ratio of 0.52. NewMarket Corporation has a 12 month low of $480.00 and a 12 month high of $854.75. The firm's fifty day simple moving average is $761.79 and its two-hundred day simple moving average is $659.96. The stock has a market capitalization of $7.84 billion, a price-to-earnings ratio of 16.54 and a beta of 0.49.

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

NewMarket Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be paid a $2.75 dividend. The ex-dividend date is Monday, September 15th. This represents a $11.00 annualized dividend and a dividend yield of 1.3%. NewMarket's payout ratio 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.