Northwestern Mutual Wealth Management Co. Purchases 5,438 Shares of NewMarket Corporation $NEU

Northwestern Mutual Wealth Management Co. raised its stake in shares of NewMarket Corporation (NYSE:NEU) by 4,647.9% in the fourth quarter, Holdings Channel reports. The fund owned 5,555 shares of the specialty chemicals company’s stock after acquiring an additional 5,438 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in NewMarket were worth $3,818,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Arbejdsmarkedets Tillaegspension bought a new position in shares of NewMarket during the fourth quarter valued at $21,326,000. New York Life Investment Management LLC bought a new position in shares of NewMarket during the fourth quarter valued at $462,000. Oregon Public Employees Retirement Fund lifted its holdings in shares of NewMarket by 1.8% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,568 shares of the specialty chemicals company’s stock valued at $1,078,000 after acquiring an additional 28 shares during the period. Bailard Inc. bought a new position in shares of NewMarket during the fourth quarter valued at $212,000. Finally, Swiss Life Asset Management Ltd lifted its holdings in shares of NewMarket by 75.0% during the fourth quarter. Swiss Life Asset Management Ltd now owns 637 shares of the specialty chemicals company’s stock valued at $438,000 after acquiring an additional 273 shares during the period. 61.09% of the stock is owned by institutional investors.

NewMarket Stock Down 0.2%

Shares of NYSE NEU opened at $736.60 on Monday. The stock has a market cap of $6.78 billion, a PE ratio of 16.83 and a beta of 0.52. The business has a fifty day moving average of $654.78 and a two-hundred day moving average of $683.23. NewMarket Corporation has a 52-week low of $580.03 and a 52-week 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.

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

NewMarket Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 15th will be issued a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Monday, June 15th. NewMarket’s payout ratio is currently 27.41%.

Insider Activity

In other NewMarket news, Director Ting Xu purchased 400 shares of the business’s stock in a transaction that occurred on Tuesday, February 24th. The stock was acquired at an average cost of $619.21 per share, with a total value of $247,684.00. Following the completion of the acquisition, the director directly owned 929 shares of the company’s stock, valued at $575,246.09. This represents a 75.61% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 8.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut NewMarket from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, March 20th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, NewMarket has a consensus rating of “Hold”.

About NewMarket

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.