Allianz Asset Management GmbH Buys 4,595 Shares of NewMarket Corporation $NEU

Allianz Asset Management GmbH boosted its stake in NewMarket Corporation (NYSE:NEU) by 115.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,588 shares of the specialty chemicals company’s stock after acquiring an additional 4,595 shares during the period. Allianz Asset Management GmbH’s holdings in NewMarket were worth $5,933,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Ritholtz Wealth Management boosted its holdings in NewMarket by 2.4% in the second quarter. Ritholtz Wealth Management now owns 1,110 shares of the specialty chemicals company’s stock valued at $767,000 after acquiring an additional 26 shares in the last quarter. Sequoia Financial Advisors LLC bought a new stake in NewMarket in the second quarter valued at $331,000. MGO One Seven LLC bought a new stake in NewMarket in the second quarter valued at $213,000. CWM LLC boosted its holdings in NewMarket by 48.1% in the second quarter. CWM LLC now owns 431 shares of the specialty chemicals company’s stock valued at $298,000 after acquiring an additional 140 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its holdings in NewMarket by 30.6% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 751 shares of the specialty chemicals company’s stock valued at $519,000 after acquiring an additional 176 shares in the last quarter. Institutional investors own 61.09% of the company’s stock.

NewMarket Price Performance

NEU opened at $750.24 on Thursday. The stock has a 50-day moving average price of $811.04 and a 200-day moving average price of $709.37. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.66 and a quick ratio of 1.43. The firm has a market cap of $7.05 billion, a PE ratio of 14.87 and a beta of 0.45. NewMarket Corporation has a 1 year low of $480.00 and a 1 year high of $875.97.

NewMarket (NYSE:NEU) last posted its quarterly earnings results on Wednesday, July 30th. The specialty chemicals company reported $11.84 earnings per share (EPS) for the quarter. The firm had revenue of $698.51 million during the quarter. NewMarket had a return on equity of 32.25% and a net margin of 17.28%.

NewMarket Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th were given a $2.75 dividend. This represents a $11.00 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Monday, September 15th. NewMarket’s payout ratio is currently 21.80%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Weiss Ratings restated a “buy (b+)” rating on shares of NewMarket in a report on Wednesday, October 8th. Wall Street Zen cut shares of NewMarket from a “buy” rating to a “hold” rating in a report on Saturday, August 30th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, NewMarket currently has an average rating of “Buy”.

About NewMarket

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.