Bank of New York Mellon Corp increased its holdings in shares of NewMarket Co. (NYSE:NEU) by 1.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 114,174 shares of the specialty chemicals company’s stock after acquiring an additional 1,361 shares during the quarter. Bank of New York Mellon Corp’s holdings in NewMarket were worth $45,372,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Russell Investments Group Ltd. raised its stake in NewMarket by 18.4% during the third quarter. Russell Investments Group Ltd. now owns 49,769 shares of the specialty chemicals company’s stock worth $21,189,000 after acquiring an additional 7,736 shares during the period. Crossmark Global Holdings Inc. acquired a new stake in NewMarket during the third quarter worth about $719,000. U S Global Investors Inc. acquired a new stake in NewMarket during the third quarter worth about $1,277,000. Aperio Group LLC raised its stake in NewMarket by 67.3% during the third quarter. Aperio Group LLC now owns 6,037 shares of the specialty chemicals company’s stock worth $2,570,000 after acquiring an additional 2,429 shares during the period. Finally, Krueger & Catalano Capital Partners LLC acquired a new stake in NewMarket during the fourth quarter worth about $1,508,000. Hedge funds and other institutional investors own 54.98% of the company’s stock.
Separately, TheStreet lowered shares of NewMarket from a “b-” rating to a “c” rating in a research note on Wednesday, February 7th.
NewMarket (NYSE:NEU) last announced its quarterly earnings results on Tuesday, February 6th. The specialty chemicals company reported $3.05 EPS for the quarter, missing the consensus estimate of $3.62 by ($0.57). NewMarket had a net margin of 8.67% and a return on equity of 37.86%. The firm had revenue of $559.98 million during the quarter, compared to analyst estimates of $522.10 million. During the same quarter in the previous year, the business posted $3.86 EPS. NewMarket’s revenue for the quarter was up 11.6% compared to the same quarter last year.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Thursday, March 15th will be paid a $1.75 dividend. The ex-dividend date is Wednesday, March 14th. This represents a $7.00 annualized dividend and a dividend yield of 1.61%. NewMarket’s payout ratio is currently 43.56%.
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NewMarket 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). The Company operates through petroleum additives segment, which is primarily represented by Afton.
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