Rhumbline Advisers increased its stake in NewMarket Co. (NYSE:NEU) by 2.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,144 shares of the specialty chemicals company’s stock after buying an additional 477 shares during the quarter. Rhumbline Advisers owned approximately 0.18% of NewMarket worth $8,493,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wells Fargo & Company MN boosted its holdings in shares of NewMarket by 36.8% in the 1st quarter. Wells Fargo & Company MN now owns 47,774 shares of the specialty chemicals company’s stock valued at $19,191,000 after buying an additional 12,859 shares during the last quarter. Xact Kapitalforvaltning AB acquired a new stake in shares of NewMarket in the 4th quarter valued at approximately $312,000. MetLife Investment Advisors LLC acquired a new stake in shares of NewMarket in the 4th quarter valued at approximately $2,325,000. Vident Investment Advisory LLC boosted its holdings in shares of NewMarket by 80.5% in the 4th quarter. Vident Investment Advisory LLC now owns 1,076 shares of the specialty chemicals company’s stock valued at $428,000 after buying an additional 480 shares during the last quarter. Finally, Meadow Creek Investment Management LLC boosted its holdings in shares of NewMarket by 13.5% in the 4th quarter. Meadow Creek Investment Management LLC now owns 1,176 shares of the specialty chemicals company’s stock valued at $467,000 after buying an additional 140 shares during the last quarter. 56.18% of the stock is owned by institutional investors.
In other NewMarket news, Treasurer Cameron D. Warner purchased 264 shares of the company’s stock in a transaction that occurred on Tuesday, May 1st. The shares were acquired at an average price of $377.68 per share, for a total transaction of $99,707.52. Following the purchase, the treasurer now owns 762 shares in the company, valued at $287,792.16. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 16.91% of the stock is currently owned by corporate insiders.
NewMarket (NYSE:NEU) last posted its quarterly earnings results on Wednesday, April 25th. The specialty chemicals company reported $5.14 earnings per share for the quarter, missing analysts’ consensus estimates of $5.60 by ($0.46). NewMarket had a net margin of 8.34% and a return on equity of 35.41%. The business had revenue of $589.20 million during the quarter, compared to the consensus estimate of $573.20 million. During the same quarter last year, the company posted $5.39 EPS. The firm’s revenue was up 8.5% on a year-over-year basis.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 2nd. Investors of record on Friday, June 15th will be paid a $1.75 dividend. This represents a $7.00 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date of this dividend is Thursday, June 14th.
Separately, TheStreet raised NewMarket from a “c” rating to a “b-” rating in a report on Wednesday, April 25th.
NewMarket Company Profile
NewMarket Corporation, through its subsidiaries, engages in the petroleum additives businesses. It offers lubricant additives for use in various vehicle and industrial applications, such as engine oils, transmission fluids, off-road powertrain and hydraulic systems, gear oils, hydraulic oils, turbine oils, metalworking fluids, and in other applications where metal-to-metal moving parts are utilized; and engine oil, driveline, and industrial additives.
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