NewMarket Corporation $NEU Shares Bought by Algert Global LLC

Algert Global LLC grew its position in NewMarket Corporation (NYSE:NEU) by 75.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,550 shares of the specialty chemicals company’s stock after purchasing an additional 3,670 shares during the period. Algert Global LLC owned approximately 0.09% of NewMarket worth $7,081,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. AQR Capital Management LLC lifted its holdings in shares of NewMarket by 196.7% during the third quarter. AQR Capital Management LLC now owns 137,943 shares of the specialty chemicals company’s stock worth $114,246,000 after purchasing an additional 91,458 shares during the period. Caisse de depot et placement du Quebec raised its position in NewMarket by 376.4% during the 3rd quarter. Caisse de depot et placement du Quebec now owns 99,256 shares of the specialty chemicals company’s stock worth $82,205,000 after buying an additional 78,422 shares during the last quarter. Norges Bank purchased a new position in NewMarket during the 2nd quarter worth approximately $51,515,000. LSV Asset Management lifted its stake in NewMarket by 27.8% during the 2nd quarter. LSV Asset Management now owns 262,148 shares of the specialty chemicals company’s stock valued at $181,108,000 after acquiring an additional 57,101 shares during the period. Finally, Invesco Ltd. boosted its holdings in shares of NewMarket by 112.4% in the 3rd quarter. Invesco Ltd. now owns 67,633 shares of the specialty chemicals company’s stock valued at $56,014,000 after acquiring an additional 35,789 shares during the last quarter. 61.09% of the stock is currently owned by hedge funds and other institutional investors.

NewMarket Stock Up 3.6%

Shares of NEU opened at $605.48 on Tuesday. The firm has a market cap of $5.69 billion, a P/E ratio of 13.63 and a beta of 0.50. NewMarket Corporation has a 12 month low of $510.07 and a 12 month high of $875.97. The stock’s 50 day moving average is $651.00 and its two-hundred day moving average is $731.89. The company has a current ratio of 2.53, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50.

NewMarket (NYSE:NEU) last announced its earnings results on Wednesday, February 11th. The specialty chemicals company reported $8.65 earnings per share for the quarter. The business 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 announced a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 16th will be given a $3.00 dividend. The ex-dividend date is Monday, March 16th. This represents a $12.00 annualized dividend and a dividend yield of 2.0%. NewMarket’s dividend payout ratio (DPR) is 27.01%.

Insider Activity at NewMarket

In related news, Director Ting Xu bought 400 shares of the business’s stock in a transaction dated Tuesday, February 24th. The stock was acquired at an average price 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 of the company’s stock, valued at approximately $575,246.09. This trade represents a 75.61% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 19.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded shares of NewMarket from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 2nd. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy”.

NewMarket 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.