Pacer Advisors Inc. Raises Stock Holdings in NewMarket Corporation $NEU

Pacer Advisors Inc. increased its holdings in shares of NewMarket Corporation (NYSE:NEU) by 1,469.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 30,636 shares of the specialty chemicals company’s stock after acquiring an additional 28,684 shares during the period. Pacer Advisors Inc.’s holdings in NewMarket were worth $21,055,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in NewMarket by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 828,798 shares of the specialty chemicals company’s stock valued at $569,600,000 after acquiring an additional 15,813 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in NewMarket by 1.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 182,335 shares of the specialty chemicals company’s stock worth $125,321,000 after purchasing an additional 2,633 shares during the period. Geode Capital Management LLC lifted its position in shares of NewMarket by 5.4% during the fourth quarter. Geode Capital Management LLC now owns 175,649 shares of the specialty chemicals company’s stock worth $120,737,000 after purchasing an additional 8,978 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of NewMarket by 196.7% during the third quarter. AQR Capital Management LLC now owns 137,943 shares of the specialty chemicals company’s stock worth $114,246,000 after purchasing an additional 91,458 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in shares of NewMarket by 13.3% during the third quarter. American Century Companies Inc. now owns 128,933 shares of the specialty chemicals company’s stock valued at $106,784,000 after purchasing an additional 15,179 shares during the period. Hedge funds and other institutional investors own 61.09% of the company’s stock.

NewMarket Price Performance

NEU opened at $777.28 on Friday. The business’s 50-day moving average is $722.47 and its two-hundred day moving average is $687.47. NewMarket Corporation has a 1 year low of $580.03 and a 1 year high of $875.97. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.55 and a quick ratio of 1.37. The firm has a market capitalization of $7.15 billion, a PE ratio of 17.75 and a beta of 0.56.

NewMarket (NYSE:NEU) last announced its earnings results on Wednesday, April 22nd. The specialty chemicals company reported $12.62 EPS for the quarter. The business had revenue of $669.72 million during the quarter. NewMarket had a net margin of 15.25% and a return on equity of 24.12%.

NewMarket Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 15th will be paid a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Monday, June 15th. NewMarket’s payout ratio is 27.41%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded shares of NewMarket from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, June 12th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy”.

NewMarket Profile

NewMarket Corporation is a specialty chemicals and lubricants company headquartered in Richmond, Virginia. Through its Valvoline business, the company markets a broad portfolio of automotive aftermarket products, including engine oils, transmission fluids, greases and vehicle care solutions. Valvoline products are distributed through retail and commercial channels as well as a network of quick-lube service centers that provide oil changes, preventive maintenance and related services.

In its chemical additives segment, NewMarket develops, manufactures and sells performance additives for fuels, lubricants and industrial fluids.