Vident Advisory LLC Makes New $371,000 Investment 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 purchased a new stake in shares of NewMarket Corporation (NYSE:NEU - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 655 shares of the specialty chemicals company's stock, valued at approximately $371,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in NewMarket by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 744,723 shares of the specialty chemicals company's stock valued at $421,848,000 after purchasing an additional 13,411 shares in the last quarter. LSV Asset Management increased its stake in shares of NewMarket by 1.0% in the 1st quarter. LSV Asset Management now owns 205,047 shares of the specialty chemicals company's stock valued at $116,149,000 after buying an additional 2,121 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of NewMarket by 8.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 185,858 shares of the specialty chemicals company's stock valued at $105,300,000 after buying an additional 15,155 shares during the period. American Century Companies Inc. increased its stake in shares of NewMarket by 120.3% in the 1st quarter. American Century Companies Inc. now owns 105,120 shares of the specialty chemicals company's stock valued at $59,545,000 after buying an additional 57,403 shares during the period. Finally, GAMMA Investing LLC increased its stake in shares of NewMarket by 54,160.0% in the 1st quarter. GAMMA Investing LLC now owns 103,094 shares of the specialty chemicals company's stock valued at $58,398,000 after buying an additional 102,904 shares during the period. 61.09% of the stock is owned by institutional investors and hedge funds.

NewMarket Trading Down 1.2%

Shares of NYSE:NEU traded down $10.36 during midday trading on Friday, hitting $838.58. The company had a trading volume of 71,470 shares, compared to its average volume of 97,778. NewMarket Corporation has a 12 month low of $480.00 and a 12 month high of $854.75. The company has a current ratio of 2.66, a quick ratio of 1.43 and a debt-to-equity ratio of 0.52. The stock has a market cap of $7.88 billion, a price-to-earnings ratio of 16.62 and a beta of 0.49. The firm has a fifty day simple moving average of $761.79 and a 200 day simple moving average of $659.29.

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

NewMarket Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be given a $2.75 dividend. This represents a $11.00 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Monday, September 15th. NewMarket's dividend payout ratio (DPR) is currently 21.80%.

Analysts Set New Price Targets

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

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.