Blue Edge Capital LLC Reduces Stock Position in NewMarket Corporation $NEU

Blue Edge Capital LLC trimmed its holdings in shares of NewMarket Corporation (NYSE:NEU) by 61.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,938 shares of the specialty chemicals company’s stock after selling 3,100 shares during the quarter. Blue Edge Capital LLC’s holdings in NewMarket were worth $1,533,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in NEU. California State Teachers Retirement System grew its stake in NewMarket by 77,185.5% in the 2nd quarter. California State Teachers Retirement System now owns 7,117,995 shares of the specialty chemicals company’s stock worth $5,632,042,000 after acquiring an additional 7,108,785 shares in the last quarter. BlackRock Inc. bought a new position in NewMarket in the second quarter worth approximately $556,339,000. Norges Bank purchased a new position in NewMarket during the 4th quarter worth $64,654,000. Caisse de depot et placement du Quebec bought a new stake in NewMarket during the 2nd quarter valued at $72,517,000. Finally, AQR Capital Management LLC lifted its holdings in shares of NewMarket by 196.7% in the 3rd quarter. AQR Capital Management LLC now owns 137,943 shares of the specialty chemicals company’s stock worth $114,246,000 after buying an additional 91,458 shares during the period. 61.09% of the stock is currently owned by institutional investors.

NewMarket Stock Performance

Shares of NewMarket stock opened at $862.70 on Thursday. The company has a market capitalization of $7.94 billion, a PE ratio of 18.56 and a beta of 0.55. The company has a 50-day simple moving average of $854.55 and a two-hundred day simple moving average of $748.99. NewMarket Corporation has a one year low of $580.03 and a one year high of $981.66. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.23 and a current ratio of 2.25.

NewMarket (NYSE:NEU) last released its quarterly earnings results on Wednesday, July 29th. The specialty chemicals company reported $14.54 earnings per share for the quarter. NewMarket had a net margin of 15.80% and a return on equity of 24.62%. The business had revenue of $747.09 million for the quarter.

NewMarket Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be paid a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 1.4%. The ex-dividend date is Tuesday, September 15th. NewMarket’s dividend payout ratio (DPR) is 25.82%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on NEU. Weiss Ratings upgraded NewMarket from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, June 12th. Wall Street Zen raised shares of NewMarket from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, NewMarket 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.