LSV Asset Management Buys 57,101 Shares of NewMarket Corporation $NEU

LSV Asset Management lifted its stake in NewMarket Corporation (NYSE:NEU) by 27.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 262,148 shares of the specialty chemicals company’s stock after buying an additional 57,101 shares during the period. LSV Asset Management’s holdings in NewMarket were worth $181,108,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Sequoia Financial Advisors LLC bought a new position in shares of NewMarket in the second quarter worth approximately $331,000. Allianz Asset Management GmbH increased its position in shares of NewMarket by 15.1% in the first quarter. Allianz Asset Management GmbH now owns 3,993 shares of the specialty chemicals company’s stock valued at $2,262,000 after acquiring an additional 523 shares during the period. Cerity Partners LLC purchased a new stake in shares of NewMarket during the first quarter worth about $293,000. AlphaQuest LLC grew its stake in shares of NewMarket by 65,800.0% in the second quarter. AlphaQuest LLC now owns 659 shares of the specialty chemicals company’s stock worth $455,000 after purchasing an additional 658 shares during the last quarter. Finally, Prime Capital Investment Advisors LLC purchased a new position in NewMarket during the 2nd quarter valued at about $209,000. 61.09% of the stock is currently owned by institutional investors.

NewMarket Stock Performance

NewMarket stock opened at $784.80 on Monday. NewMarket Corporation has a fifty-two week low of $480.00 and a fifty-two week high of $875.97. The stock’s 50 day simple moving average is $799.10 and its two-hundred day simple moving average is $736.55. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.43 and a current ratio of 2.66. The stock has a market cap of $7.37 billion, a price-to-earnings ratio of 15.56 and a beta of 0.46.

NewMarket (NYSE:NEU) last announced its earnings results on Thursday, October 30th. The specialty chemicals company reported $10.67 earnings per share (EPS) for the quarter. NewMarket had a return on equity of 32.25% and a net margin of 17.28%.The firm had revenue of $690.31 million during the quarter.

NewMarket Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 15th will be given a dividend of $3.00 per share. This is an increase from NewMarket’s previous quarterly dividend of $2.75. This represents a $12.00 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Monday, December 15th. NewMarket’s payout ratio is 25.35%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Wall Street Zen lowered NewMarket from a “buy” rating to a “hold” rating in a research report on Saturday, August 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of NewMarket in a research note on Tuesday, November 11th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, NewMarket presently has a consensus rating of “Buy”.

NewMarket Company Profile

NewMarket Corporation, through its subsidiaries, primarily engages in the manufacture and sale of petroleum additives. 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, and other applications where metal-to-metal moving parts are utilized; engine oil additives designed for passenger cars, motorcycles, on and off-road heavy duty commercial equipment, locomotives, and engines in ocean-going vessels; driveline additives designed for products, such as transmission fluids, axle fluids, and off-road powertrain fluids; and industrial additives designed for products for industrial applications consisting of hydraulic fluids, grease, industrial gear fluids, and industrial specialty applications, such as turbine oils.