Strategic Global Advisors LLC Invests $2.11 Million in NewMarket Corporation $NEU

Strategic Global Advisors LLC acquired a new position in shares of NewMarket Corporation (NYSE:NEU) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,666 shares of the specialty chemicals company’s stock, valued at approximately $2,109,000.

Several other large investors have also bought and sold shares of the business. Los Angeles Capital Management LLC bought a new position in shares of NewMarket in the fourth quarter worth about $25,000. Trust Co. of Vermont acquired a new stake in shares of NewMarket in the 2nd quarter valued at approximately $28,000. International Assets Investment Management LLC bought a new stake in shares of NewMarket during the 4th quarter valued at approximately $27,000. Quarry LP bought a new stake in shares of NewMarket during the 3rd quarter valued at approximately $52,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA increased its position in NewMarket by 50.0% during 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 owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NEU has been the subject of several research reports. Weiss Ratings raised shares of NewMarket from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, June 12th. Wall Street Zen raised shares of NewMarket from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy”.

NewMarket Price Performance

NewMarket stock opened at $926.11 on Thursday. The stock has a 50-day moving average price of $833.01 and a two-hundred day moving average price of $731.36. NewMarket Corporation has a 12 month low of $580.03 and a 12 month high of $981.66. The company has a market capitalization of $8.52 billion, a PE ratio of 19.92 and a beta of 0.56. The company has a current ratio of 2.25, a quick ratio of 1.23 and a debt-to-equity ratio of 0.47.

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

NewMarket Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be issued a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Tuesday, September 15th. NewMarket’s payout ratio is presently 25.82%.

About NewMarket

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.