L2 Asset Management LLC Makes New $543,000 Investment in NewMarket Corporation $NEU

L2 Asset Management LLC acquired a new position in NewMarket Corporation (NYSE:NEU) in the 2nd quarter, HoldingsChannel reports. The firm acquired 685 shares of the specialty chemicals company’s stock, valued at approximately $543,000.

Other large investors have also recently made changes to their positions in the company. Los Angeles Capital Management LLC purchased a new stake in NewMarket in the fourth quarter worth $25,000. Trust Co. of Vermont purchased a new position in NewMarket during the 2nd quarter valued at $28,000. International Assets Investment Management LLC bought a new position in NewMarket in the 4th quarter worth $27,000. Quarry LP bought a new position in NewMarket in the 3rd quarter worth $52,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA raised its holdings in NewMarket by 50.0% in the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 75 shares of the specialty chemicals company’s stock worth $52,000 after purchasing an additional 25 shares in the last quarter. 61.09% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on NEU shares. Wall Street Zen raised shares of NewMarket from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. Weiss Ratings raised shares of NewMarket from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, June 12th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, NewMarket presently has a consensus rating of “Buy”.

NewMarket Trading Down 0.3%

NYSE NEU opened at $933.73 on Wednesday. The firm has a market capitalization of $8.59 billion, a PE ratio of 20.09 and a beta of 0.56. The stock’s 50 day moving average is $829.75 and its 200 day moving average is $729.86. NewMarket Corporation has a twelve month low of $580.03 and a twelve month high of $981.66. The company has a quick ratio of 1.23, a current ratio of 2.25 and a debt-to-equity ratio of 0.47.

NewMarket (NYSE:NEU) last posted its quarterly earnings data on Wednesday, July 29th. The specialty chemicals company reported $14.54 earnings per share (EPS) for the quarter. NewMarket had a return on equity of 24.62% and a net margin of 15.80%.The business had revenue of $747.09 million during the quarter.

NewMarket Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 15th will be paid a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Tuesday, September 15th. NewMarket’s dividend payout ratio (DPR) is presently 25.82%.

NewMarket Company 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.