First Trust Advisors LP lessened its stake in NewMarket Co. (NYSE:NEU) by 16.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,249 shares of the specialty chemicals company’s stock after selling 2,670 shares during the period. First Trust Advisors LP owned about 0.11% of NewMarket worth $5,359,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the stock. Wells Fargo & Company MN lifted its stake in NewMarket by 36.8% during the first quarter. Wells Fargo & Company MN now owns 47,774 shares of the specialty chemicals company’s stock worth $19,191,000 after purchasing an additional 12,859 shares during the last quarter. Rhumbline Advisers lifted its stake in NewMarket by 2.3% during the first quarter. Rhumbline Advisers now owns 21,144 shares of the specialty chemicals company’s stock worth $8,493,000 after purchasing an additional 477 shares during the last quarter. Dupont Capital Management Corp lifted its stake in NewMarket by 33.3% during the first quarter. Dupont Capital Management Corp now owns 1,549 shares of the specialty chemicals company’s stock worth $622,000 after purchasing an additional 387 shares during the last quarter. Victory Capital Management Inc. bought a new stake in NewMarket during the first quarter worth about $3,773,000. Finally, State Board of Administration of Florida Retirement System lifted its stake in NewMarket by 53.7% during the first quarter. State Board of Administration of Florida Retirement System now owns 3,917 shares of the specialty chemicals company’s stock worth $1,573,000 after purchasing an additional 1,368 shares during the last quarter. Institutional investors and hedge funds own 58.34% of the company’s stock.
Separately, ValuEngine upgraded NewMarket from a “sell” rating to a “hold” rating in a report on Monday, August 20th.
NEU opened at $400.37 on Thursday. The stock has a market capitalization of $4.55 billion, a PE ratio of 22.35 and a beta of 0.71. The company has a current ratio of 3.19, a quick ratio of 1.83 and a debt-to-equity ratio of 1.38. NewMarket Co. has a 12 month low of $358.33 and a 12 month high of $437.63.
NewMarket (NYSE:NEU) last released its quarterly earnings data on Wednesday, August 8th. The specialty chemicals company reported $4.53 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $5.68 by ($1.15). The company had revenue of $599.00 million during the quarter, compared to analysts’ expectations of $601.00 million. NewMarket had a return on equity of 34.25% and a net margin of 7.72%. The firm’s quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.29 EPS.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 1st. Stockholders of record on Monday, September 17th will be issued a $1.75 dividend. The ex-dividend date of this dividend is Friday, September 14th. This represents a $7.00 annualized dividend and a dividend yield of 1.75%.
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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