Citadel Advisors LLC Raises Stake in NewMarket Corporation (NEU)
Citadel Advisors LLC boosted its stake in NewMarket Corporation (NYSE:NEU) by 1,146.0% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,940 shares of the company’s stock after buying an additional 10,062 shares during the period. Citadel Advisors LLC owned 0.09% of NewMarket Corporation worth $4,697,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently added to or reduced their stakes in the company. OLD National Bancorp IN boosted its stake in NewMarket Corporation by 2.7% in the second quarter. OLD National Bancorp IN now owns 695 shares of the company’s stock valued at $288,000 after buying an additional 18 shares during the last quarter. Victory Capital Management Inc. boosted its stake in NewMarket Corporation by 5.5% in the second quarter. Victory Capital Management Inc. now owns 1,572 shares of the company’s stock valued at $651,000 after buying an additional 82 shares during the last quarter. Commerce Bank boosted its stake in NewMarket Corporation by 0.8% in the second quarter. Commerce Bank now owns 531 shares of the company’s stock valued at $220,000 after buying an additional 4 shares during the last quarter. UBS Asset Management Americas Inc. boosted its stake in NewMarket Corporation by 7.5% in the second quarter. UBS Asset Management Americas Inc. now owns 8,426 shares of the company’s stock valued at $3,491,000 after buying an additional 591 shares during the last quarter. Finally, Nationwide Fund Advisors boosted its stake in NewMarket Corporation by 2.6% in the second quarter. Nationwide Fund Advisors now owns 17,482 shares of the company’s stock valued at $7,244,000 after buying an additional 438 shares during the last quarter. 57.45% of the stock is owned by institutional investors and hedge funds.
Shares of NewMarket Corporation (NYSE:NEU) traded up 0.11% during trading on Friday, reaching $427.63. The company’s stock had a trading volume of 6,052 shares. The stock has a 50-day moving average of $424.72 and a 200-day moving average of $419.12. NewMarket Corporation has a 52-week low of $322.54 and a 52-week high of $447.97. The stock has a market cap of $5.07 billion, a P/E ratio of 20.20 and a beta of 0.66.
NewMarket Corporation (NYSE:NEU) last issued its quarterly earnings data on Wednesday, October 26th. The company reported $6.00 EPS for the quarter, topping the consensus estimate of $5.22 by $0.78. The firm earned $516.09 million during the quarter, compared to the consensus estimate of $521.10 million. NewMarket Corporation had a return on equity of 60.19% and a net margin of 12.41%. The company’s quarterly revenue was down 4.6% compared to the same quarter last year. During the same period in the prior year, the business posted $5.08 earnings per share. Analysts predict that NewMarket Corporation will post $21.07 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, January 2nd. Stockholders of record on Thursday, December 15th were paid a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 1.50%. The ex-dividend date was Tuesday, December 13th. NewMarket Corporation’s dividend payout ratio (DPR) is presently 30.22%.
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Several research firms recently weighed in on NEU. Zacks Investment Research cut NewMarket Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, December 28th. BMO Capital Markets cut NewMarket Corporation from an “outperform” rating to a “market perform” rating in a report on Friday, September 30th.
About NewMarket Corporation
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). It operates in petroleum additives segment, which is primarily represented by Afton.
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