Vident Advisory LLC Invests $371,000 in NewMarket Corporation $NEU

Key Points

• Vident Advisory LLC has invested approximately $371,000 in NewMarket Corporation (NYSE: NEU) by acquiring 655 shares during the first quarter.
• Several institutional investors significantly increased their stakes in NewMarket, with GAMMA Investing LLC raising its position by 54,160.0%, now holding over $58 million in shares.
• NewMarket recently announced a quarterly dividend of $2.75 per share, with a dividend yield of 1.3% and a payout ratio of 21.80%.

Vident Advisory LLC bought a new stake in shares of NewMarket Corporation (NYSE:NEU - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 655 shares of the specialty chemicals company's stock, valued at approximately $371,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB raised its position in shares of NewMarket by 557.1% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 46 shares of the specialty chemicals company's stock valued at $26,000 after acquiring an additional 39 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its position in shares of NewMarket by 587.5% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 55 shares of the specialty chemicals company's stock valued at $31,000 after acquiring an additional 47 shares in the last quarter. Whipplewood Advisors LLC raised its position in shares of NewMarket by 7,700.0% during the 1st quarter. Whipplewood Advisors LLC now owns 78 shares of the specialty chemicals company's stock valued at $44,000 after acquiring an additional 77 shares in the last quarter. Private Trust Co. NA raised its position in shares of NewMarket by 185.2% during the 1st quarter. Private Trust Co. NA now owns 77 shares of the specialty chemicals company's stock valued at $44,000 after acquiring an additional 50 shares in the last quarter. Finally, UMB Bank n.a. raised its position in shares of NewMarket by 39.2% during the 1st quarter. UMB Bank n.a. now owns 103 shares of the specialty chemicals company's stock valued at $58,000 after acquiring an additional 29 shares in the last quarter. 61.09% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

NewMarket Price Performance

NewMarket stock traded down $4.33 on Friday, reaching $844.61. The company's stock had a trading volume of 38,947 shares, compared to its average volume of 78,223. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.43 and a current ratio of 2.66. The company has a market cap of $7.94 billion, a price-to-earnings ratio of 16.74 and a beta of 0.49. The business's fifty day moving average price is $759.76 and its 200 day moving average price is $656.73. NewMarket Corporation has a twelve month low of $480.00 and a twelve month high of $854.75.

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

NewMarket Announces Dividend

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