1,452 NewMarket Corporation $NEU Shares Bought by Csenge Advisory Group

Csenge Advisory Group lifted its position in shares of NewMarket Corporation (NYSE:NEU) by 75.2% during the 3rd quarter, Holdings Channel reports. The firm owned 3,382 shares of the specialty chemicals company’s stock after purchasing an additional 1,452 shares during the quarter. Csenge Advisory Group’s holdings in NewMarket were worth $3,035,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of NEU. Entropy Technologies LP acquired a new stake in NewMarket in the 1st quarter valued at about $1,751,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in NewMarket during the second quarter worth about $2,250,000. The Manufacturers Life Insurance Company bought a new position in NewMarket during the second quarter worth about $4,354,000. BlackRock Inc. bought a new position in NewMarket during the second quarter worth about $556,339,000. Finally, Public Employees Retirement System of Ohio acquired a new position in NewMarket during the second quarter worth approximately $1,463,000. 61.09% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on NEU shares. Wall Street Zen upgraded NewMarket from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. Weiss Ratings cut NewMarket from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, November 2nd. One investment analyst has rated the stock with a Buy rating. Based on data from MarketBeat.com, NewMarket currently has a consensus rating of “Buy”.

NewMarket Trading Up 0.4%

NEU stock opened at $698.36 on Thursday. NewMarket Corporation has a one year low of $580.03 and a one year high of $981.66. The stock has a market cap of $6.42 billion, a price-to-earnings ratio of 14.10 and a beta of 0.59. The company has a fifty day moving average price of $859.73 and a two-hundred day moving average price of $765.20. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.46 and a quick ratio of 1.24.

NewMarket (NYSE:NEU) last issued its quarterly earnings data on Wednesday, October 28th. The specialty chemicals company reported $13.50 earnings per share for the quarter. The company had revenue of $716.50 million for the quarter. NewMarket had a net margin of 16.51% and a return on equity of 25.12%.

NewMarket Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 1st. Investors of record on Tuesday, December 15th will be paid a $3.25 dividend. This is an increase from NewMarket’s previous quarterly dividend of $3.00. The ex-dividend date is Tuesday, December 15th. This represents a $13.00 dividend on an annualized basis and a yield of 1.9%. NewMarket’s dividend payout ratio (DPR) is currently 24.34%.

NewMarket Company Profile

NewMarket Corporation is a Richmond, Virginia-based holding company whose principal business is petroleum additives, conducted through its subsidiary Afton Chemical Corporation. Afton develops, manufactures and markets additives that help improve the performance of fuels and lubricants, serving customers across the energy and transportation industries. Afton’s products include fuel additives and lubricant additives for applications such as engine oils, driveline fluids and industrial lubricants.