Cwm LLC Grows Stake in NewMarket Corporation $NEU

Cwm LLC increased its holdings in shares of NewMarket Corporation (NYSE:NEU) by 48.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 431 shares of the specialty chemicals company’s stock after purchasing an additional 140 shares during the quarter. Cwm LLC’s holdings in NewMarket were worth $298,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of NEU. Impala Asset Management LLC purchased a new stake in shares of NewMarket in the 1st quarter valued at about $36,819,000. American Century Companies Inc. increased its holdings in shares of NewMarket by 120.3% in the 1st quarter. American Century Companies Inc. now owns 105,120 shares of the specialty chemicals company’s stock valued at $59,545,000 after acquiring an additional 57,403 shares during the period. Brandywine Global Investment Management LLC purchased a new stake in NewMarket in the 1st quarter valued at $19,348,000. Jones Financial Companies Lllp grew its position in NewMarket by 70,700.0% during the 1st quarter. Jones Financial Companies Lllp now owns 15,576 shares of the specialty chemicals company’s stock worth $8,823,000 after purchasing an additional 15,554 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in NewMarket by 8.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 185,858 shares of the specialty chemicals company’s stock valued at $105,300,000 after purchasing an additional 15,155 shares during the period. Institutional investors and hedge funds own 61.09% of the company’s stock.

Wall Street Analysts Forecast Growth

NEU has been the subject of several recent research reports. Weiss Ratings reiterated a “buy (b+)” rating on shares of NewMarket in a research note on Wednesday, October 8th. Wall Street Zen downgraded NewMarket from a “buy” rating to a “hold” rating in a report on Saturday, August 30th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy”.

NewMarket Price Performance

NewMarket stock opened at $752.71 on Monday. The company has a market cap of $7.08 billion, a P/E ratio of 14.92 and a beta of 0.45. NewMarket Corporation has a one year low of $480.00 and a one year high of $875.97. The business has a fifty day moving average of $810.64 and a two-hundred day moving average of $715.07. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.43 and a current ratio of 2.66.

NewMarket (NYSE:NEU) last announced its quarterly earnings results on Wednesday, July 30th. The specialty chemicals company reported $11.84 earnings per share (EPS) for the quarter. The business had revenue of $698.51 million during the quarter. NewMarket had a net margin of 17.28% and a return on equity of 32.25%.

NewMarket Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Monday, September 15th were issued a dividend of $2.75 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $11.00 annualized dividend and a yield of 1.5%. NewMarket’s payout ratio is currently 21.80%.

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.