Allspring Global Investments Holdings LLC Has $1.62 Million Stock Position in NewMarket Corporation $NEU

Allspring Global Investments Holdings LLC lowered its holdings in shares of NewMarket Corporation (NYSE:NEU) by 97.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,350 shares of the specialty chemicals company’s stock after selling 81,673 shares during the period. Allspring Global Investments Holdings LLC’s holdings in NewMarket were worth $1,616,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. GAMMA Investing LLC boosted its holdings in NewMarket by 7.3% in the third quarter. GAMMA Investing LLC now owns 220 shares of the specialty chemicals company’s stock worth $182,000 after acquiring an additional 15 shares in the last quarter. OneDigital Investment Advisors LLC boosted its holdings in NewMarket by 5.8% in the third quarter. OneDigital Investment Advisors LLC now owns 329 shares of the specialty chemicals company’s stock worth $273,000 after acquiring an additional 18 shares in the last quarter. MGO One Seven LLC boosted its holdings in NewMarket by 6.5% in the third quarter. MGO One Seven LLC now owns 328 shares of the specialty chemicals company’s stock worth $272,000 after acquiring an additional 20 shares in the last quarter. Arizona State Retirement System boosted its holdings in NewMarket by 0.9% in the third quarter. Arizona State Retirement System now owns 2,374 shares of the specialty chemicals company’s stock worth $1,966,000 after acquiring an additional 21 shares in the last quarter. Finally, Global Retirement Partners LLC boosted its holdings in NewMarket by 3.5% in the third quarter. Global Retirement Partners LLC now owns 703 shares of the specialty chemicals company’s stock worth $582,000 after acquiring an additional 24 shares in the last quarter. Institutional investors and hedge funds own 61.09% of the company’s stock.

NewMarket Stock Performance

Shares of NewMarket stock opened at $646.38 on Thursday. The company has a market cap of $6.08 billion, a PE ratio of 14.55 and a beta of 0.48. NewMarket Corporation has a 52 week low of $513.35 and a 52 week high of $875.97. The business has a 50 day moving average price of $635.43 and a 200-day moving average price of $709.00. The company has a quick ratio of 1.33, a current ratio of 2.53 and a debt-to-equity ratio of 0.50.

NewMarket (NYSE:NEU) last issued its quarterly earnings data on Wednesday, February 11th. The specialty chemicals company reported $8.65 EPS for the quarter. The firm had revenue of $635.40 million during the quarter. NewMarket had a return on equity of 25.38% and a net margin of 15.37%.

NewMarket Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Stockholders of record on Monday, March 16th were paid a $3.00 dividend. The ex-dividend date of this dividend was Monday, March 16th. This represents a $12.00 annualized dividend and a dividend yield of 1.9%. NewMarket’s dividend payout ratio is 27.01%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered NewMarket from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, March 20th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, NewMarket presently has an average rating of “Hold”.

Insider Activity at NewMarket

In related news, Director Ting Xu acquired 400 shares of the stock in a transaction dated Tuesday, February 24th. The stock was purchased at an average cost of $619.21 per share, with a total value of $247,684.00. Following the completion of the purchase, the director directly owned 929 shares in the company, valued at $575,246.09. This trade represents a 75.61% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.60% of the stock is currently owned by company insiders.

About NewMarket

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.