Impala Asset Management LLC Lowers Stock Position in NewMarket Corporation $NEU

Impala Asset Management LLC lessened its position in shares of NewMarket Corporation (NYSE:NEU) by 69.2% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 20,000 shares of the specialty chemicals company’s stock after selling 45,000 shares during the quarter. NewMarket accounts for 8.1% of Impala Asset Management LLC’s portfolio, making the stock its 5th biggest holding. Impala Asset Management LLC owned 0.21% of NewMarket worth $13,817,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the company. Caitong International Asset Management Co. Ltd grew its position in NewMarket by 587.5% during the first quarter. Caitong International Asset Management Co. Ltd now owns 55 shares of the specialty chemicals company’s stock valued at $31,000 after buying an additional 47 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of NewMarket by 100.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78 shares of the specialty chemicals company’s stock valued at $44,000 after buying an additional 39 shares in the last quarter. ST Germain D J Co. Inc. bought a new position in shares of NewMarket during the 2nd quarter valued at approximately $83,000. MAI Capital Management grew its stake in shares of NewMarket by 20.8% during the 2nd quarter. MAI Capital Management now owns 122 shares of the specialty chemicals company’s stock valued at $84,000 after acquiring an additional 21 shares during the period. Finally, EverSource Wealth Advisors LLC increased its holdings in NewMarket by 88.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 151 shares of the specialty chemicals company’s stock worth $104,000 after acquiring an additional 71 shares in the last quarter. 61.09% of the stock is currently owned by institutional investors.

NewMarket Trading Down 2.8%

NEU stock opened at $752.05 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.68 and a quick ratio of 1.43. NewMarket Corporation has a 1-year low of $480.00 and a 1-year high of $875.97. The business has a 50 day simple moving average of $770.63 and a two-hundred day simple moving average of $752.54. The company has a market capitalization of $7.07 billion, a price-to-earnings ratio of 15.89 and a beta of 0.49.

NewMarket (NYSE:NEU) last released its earnings results on Thursday, October 30th. The specialty chemicals company reported $10.67 EPS for the quarter. NewMarket had a net margin of 16.33% and a return on equity of 28.53%. The firm had revenue of $690.31 million for the quarter.

NewMarket Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 15th will be issued a dividend of $3.00 per share. This is a boost from NewMarket’s previous quarterly dividend of $2.75. The ex-dividend date of this dividend is Monday, December 15th. This represents a $12.00 annualized dividend and a dividend yield of 1.6%. NewMarket’s payout ratio is currently 23.24%.

Analysts Set New Price Targets

NEU has been the topic of several analyst reports. Wall Street Zen downgraded shares of NewMarket from a “buy” rating to a “hold” rating in a report on Saturday, August 30th. Weiss Ratings restated a “buy (b)” rating on shares of NewMarket in a research report on Monday, December 8th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company 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.