Silver Oak Securities Incorporated Makes New Investment in NewMarket Corporation $NEU

Key Points

• Silver Oak Securities Incorporated has acquired a new stake in NewMarket Corporation, purchasing 715 shares valued at approximately $494,000 in the 2nd quarter.
• Several institutional investors significantly increased their stakes in NewMarket, indicating strong interest, with MassMutual Private Wealth & Trust FSB growing its stake by 557.1% in the first quarter.
• NewMarket announced a quarterly dividend of $2.75 per share, reflecting an annualized dividend of $11.00 and a dividend yield of 1.3%.

Silver Oak Securities Incorporated 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 715 shares of the specialty chemicals company's stock, valued at approximately $494,000.

A number of other institutional investors also recently bought and sold shares of NEU. Cetera Investment Advisers lifted its holdings 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 worth $812,000 after purchasing an additional 308 shares during the last quarter. Tidal Investments LLC grew its holdings in NewMarket by 26.5% during the fourth quarter. Tidal Investments LLC now owns 1,080 shares of the specialty chemicals company's stock worth $571,000 after purchasing an additional 226 shares during the period. Two Sigma Investments LP bought a new stake in shares of NewMarket during the fourth quarter worth $2,798,000. Squarepoint Ops LLC raised its holdings in shares of NewMarket by 126.9% in the 4th quarter. Squarepoint Ops LLC now owns 3,769 shares of the specialty chemicals company's stock worth $1,991,000 after acquiring an additional 2,108 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in NewMarket by 12.0% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 20,273 shares of the specialty chemicals company's stock worth $10,711,000 after buying an additional 2,165 shares during the period. 61.09% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

NewMarket Trading Down 0.6%

Shares of NYSE:NEU traded down $4.94 during midday trading on Monday, reaching $811.33. The company had a trading volume of 62,816 shares, compared to its average volume of 95,682. The firm has a market cap of $7.63 billion, a price-to-earnings ratio of 16.08 and a beta of 0.49. The company has a fifty day simple moving average of $772.50 and a two-hundred day simple moving average of $671.12. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.43 and a current ratio of 2.66. NewMarket Corporation has a 1-year low of $480.00 and a 1-year high of $854.75.

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 return on equity of 32.25% and a net margin of 17.28%.The company had revenue of $698.51 million for the quarter.

NewMarket Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be issued a $2.75 dividend. This represents a $11.00 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Monday, September 15th. NewMarket's dividend payout ratio (DPR) 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.