First Trust Advisors LP purchased a new stake in shares of NewMarket Corp. (NYSE:NEU) during the second quarter, according to its most recent filing with the SEC. The institutional investor purchased 4,733 shares of the company’s stock, valued at approximately $1,961,000.
Several other hedge funds also recently bought and sold shares of the stock. GSA Capital Partners LLP acquired a new position in shares of NewMarket Corp. during the second quarter worth approximately $373,000. Commonwealth Equity Services Inc increased its position in shares of NewMarket Corp. by 0.3% in the second quarter. Commonwealth Equity Services Inc now owns 745 shares of the company’s stock worth $309,000 after buying an additional 2 shares during the period. State Board of Administration of Florida Retirement System increased its position in shares of NewMarket Corp. by 29.7% in the second quarter. State Board of Administration of Florida Retirement System now owns 9,749 shares of the company’s stock worth $4,040,000 after buying an additional 2,232 shares during the period. Cambridge Investment Research Advisors Inc. increased its position in shares of NewMarket Corp. by 1.6% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 570 shares of the company’s stock worth $236,000 after buying an additional 9 shares during the period. Finally, SG Americas Securities LLC increased its position in shares of NewMarket Corp. by 68.4% in the second quarter. SG Americas Securities LLC now owns 5,032 shares of the company’s stock worth $2,085,000 after buying an additional 2,044 shares during the period. 58.47% of the stock is owned by hedge funds and other institutional investors.
Shares of NewMarket Corp. (NYSE:NEU) traded down 1.60% during trading on Friday, hitting $414.76. The stock had a trading volume of 36,190 shares. NewMarket Corp. has a one year low of $322.54 and a one year high of $447.97. The stock’s 50 day moving average price is $429.45 and its 200-day moving average price is $411.01. The stock has a market cap of $4.91 billion, a P/E ratio of 20.51 and a beta of 0.97.
NewMarket Corp. (NYSE:NEU) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $5.50 earnings per share for the quarter, beating the Zacks’ consensus estimate of $5.45 by $0.05. NewMarket Corp. had a net margin of 11.80% and a return on equity of 62.23%. The business had revenue of $521.80 million for the quarter, compared to analyst estimates of $556.60 million. During the same period last year, the business earned $4.65 EPS. The company’s revenue was down 6.9% on a year-over-year basis. Analysts expect that NewMarket Corp. will post $20.30 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, October 1st. Stockholders of record on Thursday, September 15th will be issued a $1.60 dividend. The ex-dividend date of this dividend is Tuesday, September 13th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.54%. NewMarket Corp.’s payout ratio is 31.64%.
A number of equities analysts recently commented on the stock. Zacks Investment Research raised shares of NewMarket Corp. from a “hold” rating to a “buy” rating and set a $481.00 price objective for the company in a research note on Tuesday, August 2nd. Longbow Research downgraded NewMarket Corp. from a “buy” rating to a “neutral” rating in a research report on Friday, July 29th.
NewMarket Corp. Company Profile
NewMarket Corporation is a holding company. The Company is the parent company of Afton Chemical Corporation (Afton), Ethyl Corporation (Ethyl), NewMarket Services Corporation (NewMarket Services) and NewMarket Development Corporation (NewMarket Development). It operates in petroleum additives segment, which is primarily represented by Afton.
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