Susquehanna Fundamental Investments LLC Invests $2.10 Million in NewMarket Corporation $NEU

Key Points

• Susquehanna Fundamental Investments acquired 2,654 NewMarket shares worth approximately $2.1 million during the second quarter. Institutional investors and hedge funds collectively own 61.09% of NEU.
• NewMarket reported quarterly earnings of $14.54 per share on revenue of $747.09 million, with a 15.80% net margin and 24.62% return on equity.
• The company declared a quarterly dividend of $3.00 per share, equal to $12 annually and a 1.3% yield. Analyst coverage is favorable, with the stock holding an average “Buy” rating.

Susquehanna Fundamental Investments LLC acquired a new position in shares of NewMarket Corporation (NYSE:NEU - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 2,654 shares of the specialty chemicals company's stock, valued at approximately $2,100,000.

Several other hedge funds have also modified their holdings of NEU. Entropy Technologies LP acquired a new stake in shares of NewMarket during the 1st quarter worth $1,751,000. Northwestern Mutual Wealth Management Co. boosted its holdings in NewMarket by 4,647.9% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 5,555 shares of the specialty chemicals company's stock valued at $3,818,000 after acquiring an additional 5,438 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in NewMarket by 1,469.5% in the fourth quarter. Pacer Advisors Inc. now owns 30,636 shares of the specialty chemicals company's stock valued at $21,055,000 after acquiring an additional 28,684 shares during the last quarter. Natixis Advisors LLC grew its position in NewMarket by 12.0% during the fourth quarter. Natixis Advisors LLC now owns 32,238 shares of the specialty chemicals company's stock valued at $22,156,000 after acquiring an additional 3,453 shares during the period. Finally, BlackRock Inc. purchased a new stake in NewMarket during the second quarter valued at about $556,339,000. 61.09% of the stock is owned by institutional investors and hedge funds.

NewMarket Price Performance

Shares of NYSE NEU opened at $902.39 on Wednesday. NewMarket Corporation has a 1-year low of $580.03 and a 1-year high of $981.66. The business has a 50-day moving average of $843.32 and a 200-day moving average of $736.87. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.25 and a quick ratio of 1.23. The company has a market capitalization of $8.30 billion, a price-to-earnings ratio of 19.41 and a beta of 0.55.

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. The business had revenue of $747.09 million for the quarter. NewMarket had a return on equity of 24.62% and a net margin of 15.80%.

NewMarket Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on NEU shares. Wall Street Zen upgraded NewMarket from a "hold" rating to a "buy" rating in a report on Saturday, August 1st. Weiss Ratings upgraded NewMarket from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, June 12th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of "Buy".

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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