Mitsubishi UFJ Trust & Banking Corp grew its position in NewMarket Co. (NYSE:NEU – Free Report) by 56.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 122 shares of the specialty chemicals company’s stock after purchasing an additional 44 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in NewMarket were worth $49,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. US Bancorp DE boosted its position in shares of NewMarket by 15.6% during the first quarter. US Bancorp DE now owns 215 shares of the specialty chemicals company’s stock worth $78,000 after buying an additional 29 shares during the period. Dark Forest Capital Management LP acquired a new position in NewMarket during the 1st quarter worth $173,000. Apollon Wealth Management LLC bought a new position in shares of NewMarket in the second quarter worth $215,000. Covestor Ltd increased its holdings in shares of NewMarket by 69.6% during the first quarter. Covestor Ltd now owns 570 shares of the specialty chemicals company’s stock valued at $185,000 after purchasing an additional 234 shares during the period. Finally, Resources Management Corp CT ADV raised its stake in shares of NewMarket by 2,825.0% during the first quarter. Resources Management Corp CT ADV now owns 585 shares of the specialty chemicals company’s stock valued at $49,000 after purchasing an additional 565 shares in the last quarter. Institutional investors own 60.99% of the company’s stock.
Analysts Set New Price Targets
Separately, StockNews.com raised shares of NewMarket from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 13th.
NewMarket Stock Up 0.3 %
Shares of NEU stock opened at $511.84 on Monday. NewMarket Co. has a 1 year low of $297.62 and a 1 year high of $516.22. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.69 and a current ratio of 3.21. The business’s fifty day moving average is $467.26 and its 200-day moving average is $440.83. The stock has a market cap of $4.91 billion, a PE ratio of 12.39 and a beta of 0.37.
NewMarket (NYSE:NEU – Get Free Report) last released its quarterly earnings data on Wednesday, October 25th. The specialty chemicals company reported $11.60 earnings per share for the quarter. NewMarket had a return on equity of 46.27% and a net margin of 14.57%. The business had revenue of $667.15 million during the quarter.
NewMarket Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 15th will be given a $2.25 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $9.00 dividend on an annualized basis and a yield of 1.76%. NewMarket’s payout ratio is 21.79%.
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.
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