Quantbot Technologies LP Increases Stake in NewMarket Corporation $NEU

Quantbot Technologies LP boosted its stake in NewMarket Corporation (NYSE:NEU) by 117.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,053 shares of the specialty chemicals company’s stock after purchasing an additional 2,726 shares during the quarter. Quantbot Technologies LP owned about 0.05% of NewMarket worth $3,491,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of NEU. Norges Bank purchased a new stake in shares of NewMarket during the 2nd quarter valued at $51,515,000. Impala Asset Management LLC acquired a new position in NewMarket in the first quarter valued at $36,819,000. American Century Companies Inc. boosted its holdings in NewMarket by 120.3% in the first 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 last quarter. LSV Asset Management grew its position in NewMarket by 27.8% during the second 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, Brandywine Global Investment Management LLC acquired a new stake in NewMarket during the first quarter worth about $19,348,000. Hedge funds and other institutional investors own 61.09% of the company’s stock.

Analyst Ratings Changes

NEU has been the topic of a number of research reports. Weiss Ratings restated a “buy (b)” rating on shares of NewMarket in a report on Monday. Wall Street Zen lowered shares of 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, According to MarketBeat.com, the company has a consensus rating of “Buy”.

NewMarket Price Performance

NEU stock opened at $762.84 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.43 and a current ratio of 2.68. NewMarket Corporation has a 1 year low of $480.00 and a 1 year high of $875.97. The firm has a market cap of $7.17 billion, a P/E ratio of 16.12 and a beta of 0.49. The stock has a 50-day simple moving average of $779.25 and a 200-day simple moving average of $746.97.

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

NewMarket Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 15th will be paid a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 1.6%. This is a boost from NewMarket’s previous quarterly dividend of $2.75. The ex-dividend date is Monday, December 15th. NewMarket’s payout ratio is currently 23.24%.

NewMarket Profile

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.