Credit Suisse AG Raises Stake in NewMarket Co. (NYSE:NEU)

Credit Suisse AG grew its stake in shares of NewMarket Co. (NYSE:NEU) by 2.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,335 shares of the specialty chemicals company’s stock after purchasing an additional 209 shares during the period. Credit Suisse AG owned approximately 0.09% of NewMarket worth $3,042,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. First Trust Advisors LP boosted its position in shares of NewMarket by 23.9% in the 1st quarter. First Trust Advisors LP now owns 288,937 shares of the specialty chemicals company’s stock worth $93,725,000 after buying an additional 55,691 shares in the last quarter. Norges Bank acquired a new stake in shares of NewMarket during the 4th quarter worth about $16,953,000. Victory Capital Management Inc. grew its holdings in shares of NewMarket by 223.7% during the fourth quarter. Victory Capital Management Inc. now owns 51,172 shares of the specialty chemicals company’s stock worth $17,629,000 after buying an additional 35,365 shares in the last quarter. DAVENPORT & Co LLC raised its position in shares of NewMarket by 15.8% in the first quarter. DAVENPORT & Co LLC now owns 176,392 shares of the specialty chemicals company’s stock valued at $63,983,000 after buying an additional 24,003 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in NewMarket by 5.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 382,849 shares of the specialty chemicals company’s stock worth $139,732,000 after acquiring an additional 21,246 shares during the last quarter. 60.99% of the stock is currently owned by hedge funds and other institutional investors.

NewMarket Stock Up 0.5 %

Shares of NYSE NEU opened at $472.21 on Friday. NewMarket Co. has a 52-week low of $280.28 and a 52-week high of $475.94. The firm has a fifty day moving average of $443.74 and a 200-day moving average of $398.42. The stock has a market capitalization of $4.53 billion, a PE ratio of 13.11 and a beta of 0.39. The company has a quick ratio of 1.73, a current ratio of 3.27 and a debt-to-equity ratio of 1.03.

NewMarket (NYSE:NEU) last announced its quarterly earnings data on Wednesday, July 26th. The specialty chemicals company reported $10.36 earnings per share (EPS) for the quarter. NewMarket had a net margin of 12.69% and a return on equity of 44.65%. The company had revenue of $685.13 million during the quarter.

NewMarket Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 15th will be issued a dividend of $2.25 per share. The ex-dividend date is Thursday, September 14th. This represents a $9.00 annualized dividend and a dividend yield of 1.91%. NewMarket’s payout ratio is 24.98%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on shares of NewMarket in a research note on Thursday, August 17th. They issued a “strong-buy” rating for the company.

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.