Csenge Advisory Group Purchases 1,452 Shares of NewMarket Corporation $NEU

Csenge Advisory Group boosted its position in shares of NewMarket Corporation (NYSE:NEU) by 75.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,382 shares of the specialty chemicals company’s stock after purchasing an additional 1,452 shares during the quarter. Csenge Advisory Group’s holdings in NewMarket were worth $3,035,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NEU. Entropy Technologies LP acquired a new stake in shares of NewMarket during the 1st quarter worth approximately $1,751,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of NewMarket during the second quarter worth approximately $2,250,000. The Manufacturers Life Insurance Company acquired a new position in NewMarket in the second quarter valued at approximately $4,354,000. BlackRock Inc. acquired a new position in NewMarket in the second quarter valued at approximately $556,339,000. Finally, Public Employees Retirement System of Ohio acquired a new position in NewMarket in the second quarter valued at approximately $1,463,000. 61.09% of the stock is owned by institutional investors.

NewMarket Stock Performance

Shares of NYSE NEU opened at $698.36 on Thursday. The stock has a 50 day moving average price of $859.73 and a 200 day moving average price of $765.20. NewMarket Corporation has a 52 week low of $580.03 and a 52 week high of $981.66. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.24 and a current ratio of 2.46. The stock has a market capitalization of $6.42 billion, a PE ratio of 14.10 and a beta of 0.59.

NewMarket (NYSE:NEU) last posted its quarterly earnings results on Wednesday, October 28th. The specialty chemicals company reported $13.50 earnings per share for the quarter. The firm had revenue of $716.50 million during the quarter. NewMarket had a return on equity of 25.12% and a net margin of 16.51%.

NewMarket Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 1st. Stockholders of record on Tuesday, December 15th will be issued a $3.25 dividend. This represents a $13.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Tuesday, December 15th. This is a boost from NewMarket’s previous quarterly dividend of $3.00. NewMarket’s payout ratio is currently 24.34%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on NEU shares. Weiss Ratings cut shares of NewMarket from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, November 2nd. Wall Street Zen raised NewMarket from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. One analyst has rated the stock with a Buy rating. Based on data from MarketBeat, the company has a consensus rating of “Buy”.

NewMarket Profile

NewMarket Corporation is a Richmond, Virginia-based holding company whose principal business is petroleum additives, conducted through its subsidiary Afton Chemical Corporation. Afton develops, manufactures and markets additives that help improve the performance of fuels and lubricants, serving customers across the energy and transportation industries. Afton’s products include fuel additives and lubricant additives for applications such as engine oils, driveline fluids and industrial lubricants.