WBI Investments LLC Increases Position in NewMarket Corporation $NEU

Key Points

• WBI Investments LLC has increased its stake in NewMarket Corporation by 180.5%, acquiring an additional 1,280 shares, bringing its total holdings to 1,989 shares valued at approximately $1,127,000.
• NewMarket recently announced a quarterly dividend of $2.75 per share, with a dividend yield of 1.3%, to be paid on October 1st, after the record date of September 15th.
• NewMarket's stock price increased by 1.6% recently, with a current market capitalization of $7.87 billion and a trailing P/E ratio of 16.59.

WBI Investments LLC increased its position in NewMarket Corporation (NYSE:NEU - Free Report) by 180.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 1,989 shares of the specialty chemicals company's stock after buying an additional 1,280 shares during the period. WBI Investments LLC's holdings in NewMarket were worth $1,127,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC boosted its holdings in shares of NewMarket by 54,160.0% during the 1st quarter. GAMMA Investing LLC now owns 103,094 shares of the specialty chemicals company's stock valued at $58,398,000 after purchasing an additional 102,904 shares during the last quarter. Impala Asset Management LLC bought a new stake in shares of NewMarket during the first quarter valued at approximately $36,819,000. American Century Companies Inc. raised its stake in shares of NewMarket by 120.3% during the first quarter. American Century Companies Inc. now owns 105,120 shares of the specialty chemicals company's stock valued at $59,545,000 after acquiring an additional 57,403 shares in the last quarter. Brandywine Global Investment Management LLC bought a new stake in shares of NewMarket during the first quarter valued at approximately $19,348,000. Finally, Jones Financial Companies Lllp increased its holdings in NewMarket by 70,700.0% during the first quarter. Jones Financial Companies Lllp now owns 15,576 shares of the specialty chemicals company's stock valued at $8,823,000 after buying an additional 15,554 shares during the period. Institutional investors own 61.09% of the company's stock.

Wall Street Analyst Weigh In

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

NewMarket Stock Performance

NYSE NEU traded down $15.75 on Tuesday, reaching $815.46. 22,585 shares of the company's stock traded hands, compared to its average volume of 77,967. The firm has a market cap of $7.67 billion, a price-to-earnings ratio of 16.16 and a beta of 0.49. The stock has a 50 day moving average price of $763.67 and a 200-day moving average price of $661.79. NewMarket Corporation has a fifty-two week low of $480.00 and a fifty-two week high of $854.75. 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 (NYSE:NEU - Get Free Report) last posted its earnings results on Wednesday, July 30th. The specialty chemicals company reported $11.84 earnings per share (EPS) for the quarter. The company 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 company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be given a $2.75 dividend. 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 dividend payout ratio is 21.80%.

NewMarket Company 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.