Intech Investment Management LLC Acquires New Holdings in NewMarket Corporation $NEU

Intech Investment Management LLC acquired a new stake in NewMarket Corporation (NYSE:NEU) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 1,723 shares of the specialty chemicals company’s stock, valued at approximately $1,184,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in NewMarket by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 828,798 shares of the specialty chemicals company’s stock valued at $569,600,000 after purchasing an additional 15,813 shares during the last quarter. LSV Asset Management lifted its stake in NewMarket by 2.4% in the 3rd quarter. LSV Asset Management now owns 268,432 shares of the specialty chemicals company’s stock valued at $222,318,000 after purchasing an additional 6,284 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in NewMarket by 1.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 179,702 shares of the specialty chemicals company’s stock valued at $148,820,000 after purchasing an additional 2,049 shares during the last quarter. Geode Capital Management LLC lifted its stake in NewMarket by 5.4% in the 4th quarter. Geode Capital Management LLC now owns 175,649 shares of the specialty chemicals company’s stock valued at $120,737,000 after purchasing an additional 8,978 shares during the last quarter. Finally, AQR Capital Management LLC lifted its stake in NewMarket by 196.7% in the 3rd quarter. AQR Capital Management LLC now owns 137,943 shares of the specialty chemicals company’s stock valued at $114,246,000 after purchasing an additional 91,458 shares during the last quarter. Institutional investors own 61.09% of the company’s stock.

NewMarket Trading Down 0.7%

Shares of NYSE NEU opened at $789.09 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 2.55. NewMarket Corporation has a 52-week low of $580.03 and a 52-week high of $875.97. The firm has a 50 day moving average price of $688.73 and a two-hundred day moving average price of $683.94. The stock has a market cap of $7.26 billion, a P/E ratio of 18.02 and a beta of 0.56.

NewMarket (NYSE:NEU) last announced its quarterly earnings results on Wednesday, April 22nd. The specialty chemicals company reported $12.62 earnings per share (EPS) for the quarter. NewMarket had a net margin of 15.25% and a return on equity of 24.12%. The firm had revenue of $669.72 million during the quarter.

NewMarket Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th will be paid a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Monday, June 15th. NewMarket’s dividend payout ratio is currently 27.41%.

Analysts Set New Price Targets

Separately, Weiss Ratings cut shares of NewMarket from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, March 20th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, NewMarket has a consensus rating of “Hold”.

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.