Aperio Group LLC Raises Stake in NewMarket Corporation (NYSE:NEU)
Aperio Group LLC boosted its stake in NewMarket Corporation (NYSE:NEU) by 14.1% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,608 shares of the specialty chemicals company’s stock after buying an additional 445 shares during the period. Aperio Group LLC’s holdings in NewMarket Corporation were worth $1,661,000 as of its most recent filing with the SEC.
Other hedge funds have also recently added to or reduced their stakes in the company. Tyers Asset Management LLC raised its position in NewMarket Corporation by 73.7% in the first quarter. Tyers Asset Management LLC now owns 528 shares of the specialty chemicals company’s stock worth $239,000 after buying an additional 224 shares during the period. State Treasurer State of Michigan raised its position in NewMarket Corporation by 2.7% in the first quarter. State Treasurer State of Michigan now owns 3,800 shares of the specialty chemicals company’s stock worth $1,722,000 after buying an additional 100 shares during the period. OLD National Bancorp IN raised its position in NewMarket Corporation by 7.6% in the first quarter. OLD National Bancorp IN now owns 739 shares of the specialty chemicals company’s stock worth $335,000 after buying an additional 52 shares during the period. Great West Life Assurance Co. Can raised its position in NewMarket Corporation by 3.4% in the first quarter. Great West Life Assurance Co. Can now owns 5,588 shares of the specialty chemicals company’s stock worth $2,529,000 after buying an additional 183 shares during the period. Finally, Canada Pension Plan Investment Board bought a new position in NewMarket Corporation during the first quarter worth approximately $1,813,000. 56.64% of the stock is owned by institutional investors and hedge funds.
Shares of NewMarket Corporation (NYSE NEU) traded down 0.50% during trading on Friday, hitting $418.86. The stock had a trading volume of 20,681 shares. The company has a market cap of $4.96 billion, a PE ratio of 20.36 and a beta of 0.74. The firm’s 50 day moving average is $455.40 and its 200 day moving average is $452.57. NewMarket Corporation has a 1-year low of $386.90 and a 1-year high of $483.86.
NewMarket Corporation (NYSE:NEU) last announced its quarterly earnings data on Wednesday, August 2nd. The specialty chemicals company reported $5.29 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $5.73 by $0.44. NewMarket Corporation had a net margin of 11.57% and a return on equity of 46.94%. The company had revenue of $547.20 million for the quarter, compared to the consensus estimate of $570.10 million. During the same period last year, the business posted $5.50 earnings per share. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. Equities research analysts anticipate that NewMarket Corporation will post $20.23 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 15th will be paid a $1.75 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $7.00 annualized dividend and a dividend yield of 1.66%. NewMarket Corporation’s payout ratio is presently 34.03%.
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Separately, BidaskClub lowered NewMarket Corporation from a “buy” rating to a “hold” rating in a research note on Saturday, June 24th.
In related news, insider Robert A. Shama sold 230 shares of the firm’s stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $458.60, for a total value of $105,478.00. Following the sale, the insider now directly owns 1,850 shares of the company’s stock, valued at $848,410. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 16.83% of the stock is owned by company insiders.
NewMarket Corporation 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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