Charter Research & Investment Group Inc. Invests $207,000 in NewMarket Corporation $NEU

Charter Research & Investment Group Inc. acquired a new stake in shares of NewMarket Corporation (NYSE:NEU) in the second quarter, HoldingsChannel.com reports. The fund acquired 300 shares of the specialty chemicals company’s stock, valued at approximately $207,000.

Several other hedge funds have also bought and sold shares of NEU. Geode Capital Management LLC lifted its stake in shares of NewMarket by 20.1% during the 2nd quarter. Geode Capital Management LLC now owns 156,613 shares of the specialty chemicals company’s stock valued at $108,212,000 after buying an additional 26,254 shares in the last quarter. denkapparat Operations GmbH bought a new stake in NewMarket during the second quarter valued at about $279,000. ProShare Advisors LLC purchased a new position in shares of NewMarket in the second quarter valued at about $231,000. Aviva PLC grew its position in shares of NewMarket by 37.4% during the second quarter. Aviva PLC now owns 1,529 shares of the specialty chemicals company’s stock worth $1,056,000 after purchasing an additional 416 shares in the last quarter. Finally, Fox Run Management L.L.C. bought a new stake in NewMarket during the 2nd quarter valued at approximately $252,000. Institutional investors own 61.09% of the company’s stock.

NewMarket Stock Up 1.3%

Shares of NEU opened at $787.14 on Thursday. 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 stock has a market capitalization of $7.40 billion, a price-to-earnings ratio of 15.60 and a beta of 0.46. NewMarket Corporation has a 1 year low of $480.00 and a 1 year high of $875.97. The business’s 50 day simple moving average is $800.37 and its 200-day simple moving average is $733.17.

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

NewMarket Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 15th will be issued a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Monday, December 15th. This is a positive change from NewMarket’s previous quarterly dividend of $2.75. NewMarket’s payout ratio is 25.35%.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Wall Street Zen downgraded NewMarket from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th. Weiss Ratings restated a “buy (b)” rating on shares of NewMarket in a research report on Tuesday. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, NewMarket presently has a consensus rating of “Buy”.

NewMarket 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.