Gotham Asset Management LLC Boosts Stock Position in NewMarket Corporation $NEU

Gotham Asset Management LLC raised its stake in shares of NewMarket Corporation (NYSE:NEU) by 33.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 59,599 shares of the specialty chemicals company’s stock after buying an additional 14,989 shares during the quarter. Gotham Asset Management LLC owned about 0.63% of NewMarket worth $40,960,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Los Angeles Capital Management LLC bought a new position in NewMarket in the 4th quarter worth about $25,000. Ameriflex Group Inc. bought a new stake in NewMarket during the 3rd quarter valued at about $27,000. International Assets Investment Management LLC purchased a new position in NewMarket in the fourth quarter worth about $27,000. Smartleaf Asset Management LLC raised its holdings in NewMarket by 125.0% in the third quarter. Smartleaf Asset Management LLC now owns 45 shares of the specialty chemicals company’s stock worth $37,000 after buying an additional 25 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of NewMarket by 100.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78 shares of the specialty chemicals company’s stock worth $44,000 after buying an additional 39 shares in the last quarter. 61.09% of the stock is owned by hedge funds and other institutional investors.

NewMarket Trading Down 3.4%

Shares of NEU stock opened at $763.22 on Thursday. The company has a current ratio of 2.55, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. NewMarket Corporation has a 12-month low of $580.03 and a 12-month high of $875.97. The stock has a market capitalization of $7.02 billion, a P/E ratio of 17.43 and a beta of 0.56. The firm’s 50 day moving average is $717.13 and its 200 day moving average is $686.74.

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

NewMarket Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th will be given a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Monday, June 15th. NewMarket’s dividend payout ratio (DPR) is presently 27.41%.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of NewMarket from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, June 12th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, NewMarket currently has an average 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.