NewMarket Co. (NYSE:NEU) Shares Bought by Swiss National Bank
Swiss National Bank boosted its stake in shares of NewMarket Co. (NYSE:NEU) by 2.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,600 shares of the specialty chemicals company’s stock after purchasing an additional 400 shares during the period. Swiss National Bank’s holdings in NewMarket were worth $7,197,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Berman Capital Advisors LLC bought a new position in NewMarket during the fourth quarter valued at approximately $25,000. Oppenheimer Asset Management Inc. bought a new position in NewMarket during the fourth quarter valued at approximately $37,000. Ellis Investment Partners LLC bought a new position in NewMarket during the first quarter valued at approximately $46,000. Contravisory Investment Management Inc. bought a new position in NewMarket during the first quarter valued at approximately $117,000. Finally, BNP Paribas Arbitrage SA lifted its position in NewMarket by 74.7% during the first quarter. BNP Paribas Arbitrage SA now owns 290 shares of the specialty chemicals company’s stock valued at $126,000 after purchasing an additional 124 shares during the period. Institutional investors own 55.34% of the company’s stock.
Separately, Buckingham Research assumed coverage on shares of NewMarket in a research report on Monday, April 1st. They set an “underperform” rating and a $380.00 price objective on the stock.
NewMarket (NYSE:NEU) last issued its quarterly earnings data on Wednesday, April 24th. The specialty chemicals company reported $5.57 earnings per share for the quarter, missing the Zacks’ consensus estimate of $5.81 by ($0.24). NewMarket had a net margin of 10.57% and a return on equity of 44.09%. The company had revenue of $536.62 million for the quarter. On average, research analysts anticipate that NewMarket Co. will post 21.41 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 17th will be issued a dividend of $1.75 per share. The ex-dividend date is Friday, June 14th. This represents a $7.00 dividend on an annualized basis and a yield of 1.73%. NewMarket’s dividend payout ratio is currently 34.41%.
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NewMarket Corporation, through its subsidiaries, engages in the petroleum additives businesses. The company offers lubricant additives for use in various vehicle and industrial applications, including engine oils, transmission fluids, off-road powertrain and hydraulic systems, gear oils, hydraulic oils, turbine oils, metalworking fluids, and other applications where metal-to-metal moving parts are utilized; and engine oil, driveline, and industrial additives.
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