Exchange Traded Concepts LLC Takes $822,000 Position in NewMarket Corporation $NEU

Exchange Traded Concepts LLC bought a new stake in NewMarket Corporation (NYSE:NEU) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 992 shares of the specialty chemicals company’s stock, valued at approximately $822,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of NewMarket in the 2nd quarter valued at about $51,515,000. Impala Asset Management LLC bought a new position in NewMarket during the first quarter worth about $36,819,000. LSV Asset Management grew its holdings in NewMarket by 27.8% during the second quarter. LSV Asset Management now owns 262,148 shares of the specialty chemicals company’s stock worth $181,108,000 after purchasing an additional 57,101 shares during the period. Orion Porfolio Solutions LLC increased its position in NewMarket by 748.6% during the second quarter. Orion Porfolio Solutions LLC now owns 30,523 shares of the specialty chemicals company’s stock worth $21,087,000 after buying an additional 26,926 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in NewMarket by 20.1% in the second quarter. Geode Capital Management LLC now owns 156,613 shares of the specialty chemicals company’s stock valued at $108,212,000 after buying an additional 26,254 shares during the period. 61.09% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “buy (b-)” rating on shares of NewMarket in a report on Monday, December 22nd. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy”.

NewMarket Stock Performance

NYSE:NEU opened at $709.27 on Monday. The stock has a 50 day simple moving average of $752.95 and a 200 day simple moving average of $758.58. The stock has a market cap of $6.67 billion, a P/E ratio of 14.99 and a beta of 0.49. NewMarket Corporation has a 1-year low of $480.00 and a 1-year high of $875.97. The company has a current ratio of 2.68, a quick ratio of 1.43 and a debt-to-equity ratio of 0.46.

NewMarket (NYSE:NEU) last issued its quarterly earnings data on Thursday, October 30th. The specialty chemicals company reported $10.67 EPS for the quarter. NewMarket had a return on equity of 28.53% and a net margin of 16.33%.The firm had revenue of $690.31 million for the quarter.

NewMarket Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 15th will be paid a $3.00 dividend. This is a positive change from NewMarket’s previous quarterly dividend of $2.75. The ex-dividend date is Monday, December 15th. This represents a $12.00 annualized dividend and a yield of 1.7%. NewMarket’s dividend payout ratio is presently 25.35%.

NewMarket Company Profile

NewMarket Corporation is a specialty chemicals and lubricants company headquartered in Richmond, Virginia. Through its Valvoline business, the company markets a broad portfolio of automotive aftermarket products, including engine oils, transmission fluids, greases and vehicle care solutions. Valvoline products are distributed through retail and commercial channels as well as a network of quick-lube service centers that provide oil changes, preventive maintenance and related services.

In its chemical additives segment, NewMarket develops, manufactures and sells performance additives for fuels, lubricants and industrial fluids.