BNP Paribas Arbitrage SA lessened its holdings in shares of NewMarket Co. (NYSE:NEU) by 74.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 888 shares of the specialty chemicals company’s stock after selling 2,562 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in NewMarket were worth $359,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of NEU. Mount Yale Investment Advisors LLC bought a new position in NewMarket during the first quarter valued at approximately $211,000. Silvercrest Asset Management Group LLC bought a new position in NewMarket during the first quarter valued at approximately $216,000. Parametrica Management Ltd bought a new position in NewMarket during the second quarter valued at approximately $222,000. Janney Montgomery Scott LLC bought a new position in NewMarket during the second quarter valued at approximately $239,000. Finally, Brown Advisory Inc. acquired a new position in NewMarket during the first quarter valued at approximately $256,000. 55.61% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NEU stock opened at $392.72 on Friday. NewMarket Co. has a 12 month low of $358.33 and a 12 month high of $437.63. The company has a debt-to-equity ratio of 1.38, a quick ratio of 1.83 and a current ratio of 3.19. The company has a market cap of $4.33 billion, a price-to-earnings ratio of 21.30 and a beta of 0.71.
NewMarket (NYSE:NEU) last announced its quarterly earnings results on Wednesday, August 8th. The specialty chemicals company reported $4.53 EPS for the quarter, missing the consensus estimate of $5.68 by ($1.15). NewMarket had a net margin of 7.72% and a return on equity of 34.25%. The company had revenue of $599.00 million for the quarter, compared to analyst estimates of $601.00 million. During the same quarter last year, the business earned $5.29 EPS. The company’s revenue for the quarter was up 9.5% on a year-over-year basis.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 1st. Shareholders of record on Monday, September 17th will be issued a dividend of $1.75 per share. The ex-dividend date is Friday, September 14th. This represents a $7.00 annualized dividend and a yield of 1.78%.
NEU has been the topic of several analyst reports. TheStreet upgraded NewMarket from a “c” rating to a “b-” rating in a report on Wednesday, April 25th. ValuEngine downgraded NewMarket from a “hold” rating to a “sell” rating in a report on Saturday, June 2nd.
NewMarket Company Profile
NewMarket Corporation, through its subsidiaries, engages in the petroleum additives businesses. It offers lubricant additives for use in various vehicle and industrial applications, such as engine oils, transmission fluids, off-road powertrain and hydraulic systems, gear oils, hydraulic oils, turbine oils, metalworking fluids, and in other applications where metal-to-metal moving parts are utilized; and engine oil, driveline, and industrial additives.
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