Goldman Sachs Group Inc. grew its position in NewMarket Corporation (NYSE:NEU) by 48.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 58,787 shares of the specialty chemicals company’s stock after buying an additional 19,105 shares during the quarter. Goldman Sachs Group Inc. owned 0.50% of NewMarket Corporation worth $27,071,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in NEU. BlackRock Inc. increased its position in shares of NewMarket Corporation by 12,325.0% in the first quarter. BlackRock Inc. now owns 715,310 shares of the specialty chemicals company’s stock valued at $324,200,000 after buying an additional 709,553 shares in the last quarter. Vanguard Group Inc. increased its position in shares of NewMarket Corporation by 18.0% in the first quarter. Vanguard Group Inc. now owns 857,386 shares of the specialty chemicals company’s stock valued at $388,594,000 after buying an additional 130,543 shares in the last quarter. JLB & Associates Inc. purchased a new position in shares of NewMarket Corporation in the second quarter valued at $11,567,000. Russell Investments Group Ltd. increased its position in shares of NewMarket Corporation by 82.2% in the second quarter. Russell Investments Group Ltd. now owns 42,033 shares of the specialty chemicals company’s stock valued at $19,355,000 after buying an additional 18,962 shares in the last quarter. Finally, Teachers Advisors LLC increased its position in shares of NewMarket Corporation by 84.0% in the second quarter. Teachers Advisors LLC now owns 22,750 shares of the specialty chemicals company’s stock valued at $10,476,000 after buying an additional 10,386 shares in the last quarter. Institutional investors and hedge funds own 55.33% of the company’s stock.
Separately, BidaskClub cut NewMarket Corporation from a “buy” rating to a “hold” rating in a research report on Saturday, June 24th.
Shares of NewMarket Corporation (NYSE:NEU) opened at 430.47 on Thursday. The company’s 50-day moving average price is $423.69 and its 200-day moving average price is $447.89. The stock has a market cap of $5.10 billion, a PE ratio of 20.92 and a beta of 0.75. NewMarket Corporation has a 52-week low of $386.90 and a 52-week high of $483.86.
NewMarket Corporation (NYSE:NEU) last announced its earnings results on Wednesday, August 2nd. The specialty chemicals company reported $5.29 EPS for the quarter, missing the consensus estimate of $5.73 by ($0.44). NewMarket Corporation had a net margin of 11.57% and a return on equity of 46.94%. The company had revenue of $547.20 million for the quarter, compared to analysts’ expectations of $570.10 million. During the same period in the prior year, the company earned $5.50 earnings per share. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. Analysts expect that NewMarket Corporation will post $20.23 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Friday, September 15th were issued a dividend of $1.75 per share. This represents a $7.00 annualized dividend and a dividend yield of 1.63%. The ex-dividend date of this dividend was Thursday, September 14th. NewMarket Corporation’s dividend payout ratio is 34.03%.
NewMarket Corporation Profile
NewMarket Corporation is a holding company. The Company is the parent company of Afton Chemical Corporation (Afton), Ethyl Corporation (Ethyl), NewMarket Services Corporation (NewMarket Services), and NewMarket Development Corporation (NewMarket Development). The Company operates through petroleum additives segment, which is primarily represented by Afton.
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