ING Groep NV Acquires New Stake in NewMarket Corporation $NEU

ING Groep NV acquired a new stake in shares of NewMarket Corporation (NYSE:NEU) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 7,400 shares of the specialty chemicals company’s stock, valued at approximately $5,086,000.

A number of other hedge funds have also recently added to or reduced their stakes in NEU. Ameriflex Group Inc. purchased a new position in shares of NewMarket in the 3rd quarter worth about $27,000. Los Angeles Capital Management LLC purchased a new stake in shares of NewMarket during the 4th quarter valued at about $25,000. International Assets Investment Management LLC purchased a new stake in NewMarket during the 4th quarter worth approximately $27,000. Smartleaf Asset Management LLC increased its holdings in NewMarket by 125.0% during the 3rd quarter. Smartleaf Asset Management LLC now owns 45 shares of the specialty chemicals company’s stock worth $37,000 after purchasing an additional 25 shares during the last quarter. Finally, Quarry LP acquired a new position in shares of NewMarket in the 3rd quarter worth approximately $52,000. 61.09% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

NewMarket Stock Performance

NEU opened at $801.83 on Tuesday. The company has a market cap of $7.38 billion, a PE ratio of 18.32 and a beta of 0.56. The stock has a 50-day moving average of $692.21 and a 200-day moving average of $683.86. 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 announced its earnings results on Wednesday, April 22nd. The specialty chemicals company reported $12.62 earnings per share for the quarter. NewMarket had a return on equity of 24.12% and a net margin of 15.25%.The firm had revenue of $669.72 million during the quarter.

NewMarket Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th will be given a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Monday, June 15th. NewMarket’s dividend payout ratio (DPR) is currently 27.41%.

NewMarket Company 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.