Y Intercept Hong Kong Ltd Sells 5,543 Shares of NewMarket Corporation $NEU

Key Points

• Y Intercept Hong Kong Ltd cut its NewMarket stake by 70.8% in the first quarter, selling 5,543 shares and leaving it with 2,281 shares worth about $1.46 million.
• NewMarket shares were down 0.1% in Friday trading at $765.36, with the stock still near the upper end of its 52-week range and supported by solid liquidity metrics.
• The company recently reported Q1 EPS of $12.62 on revenue of $669.72 million and paid a quarterly dividend of $3.00 per share, equal to a 1.6% annualized yield.

Y Intercept Hong Kong Ltd decreased its holdings in NewMarket Corporation (NYSE:NEU - Free Report) by 70.8% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,281 shares of the specialty chemicals company's stock after selling 5,543 shares during the period. Y Intercept Hong Kong Ltd's holdings in NewMarket were worth $1,462,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in NewMarket by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 828,798 shares of the specialty chemicals company's stock valued at $569,600,000 after buying an additional 15,813 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of NewMarket by 1.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 182,335 shares of the specialty chemicals company's stock valued at $125,321,000 after buying an additional 2,633 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of NewMarket by 5.4% in the fourth quarter. Geode Capital Management LLC now owns 175,649 shares of the specialty chemicals company's stock worth $120,737,000 after buying an additional 8,978 shares during the period. AQR Capital Management LLC increased its holdings in shares of NewMarket by 196.7% in the third quarter. AQR Capital Management LLC now owns 137,943 shares of the specialty chemicals company's stock worth $114,246,000 after buying an additional 91,458 shares during the period. Finally, Caisse de depot et placement du Quebec lifted its stake in shares of NewMarket by 16.9% in the 4th quarter. Caisse de depot et placement du Quebec now owns 116,002 shares of the specialty chemicals company's stock valued at $79,724,000 after acquiring an additional 16,746 shares during the last quarter. Institutional investors own 61.09% of the company's stock.

NewMarket Trading Down 0.1%

Shares of NYSE NEU traded down $1.10 during mid-day trading on Friday, hitting $765.36. The stock had a trading volume of 69,935 shares, compared to its average volume of 99,523. The business has a 50 day moving average price of $761.53 and a two-hundred day moving average price of $691.51. NewMarket Corporation has a 1 year low of $580.03 and a 1 year high of $875.97. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 2.55. The firm has a market cap of $7.04 billion, a P/E ratio of 17.48 and a beta of 0.56.

NewMarket (NYSE:NEU - Get Free Report) last announced its quarterly earnings results on Wednesday, April 22nd. The specialty chemicals company reported $12.62 earnings per share for the quarter. The business had revenue of $669.72 million during the quarter. NewMarket had a net margin of 15.25% and a return on equity of 24.12%.

NewMarket Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th were paid a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Monday, June 15th. NewMarket's dividend payout ratio is 27.41%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded NewMarket from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, June 12th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, NewMarket currently has a consensus rating of "Buy".

NewMarket Profile

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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