Elevation Point Wealth Partners LLC Buys Shares of 653 NewMarket Corporation $NEU

Elevation Point Wealth Partners LLC bought a new stake in shares of NewMarket Corporation (NYSE:NEU) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 653 shares of the specialty chemicals company’s stock, valued at approximately $518,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in NewMarket by 100.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78 shares of the specialty chemicals company’s stock valued at $44,000 after purchasing an additional 39 shares during the period. NewEdge Advisors LLC grew its stake in NewMarket by 1,442.4% during the 1st quarter. NewEdge Advisors LLC now owns 509 shares of the specialty chemicals company’s stock worth $288,000 after buying an additional 476 shares during the last quarter. United Services Automobile Association acquired a new stake in NewMarket in the first quarter worth $266,000. Empowered Funds LLC increased its position in NewMarket by 4.8% in the first quarter. Empowered Funds LLC now owns 1,562 shares of the specialty chemicals company’s stock worth $885,000 after buying an additional 72 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in NewMarket by 9.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 22,268 shares of the specialty chemicals company’s stock valued at $12,614,000 after buying an additional 1,995 shares during the last quarter. 61.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

NewMarket Stock Down 0.3%

NEU opened at $933.73 on Wednesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.23 and a current ratio of 2.25. The company has a market capitalization of $8.59 billion, a PE ratio of 20.09 and a beta of 0.56. The stock’s fifty day moving average is $829.75 and its 200-day moving average is $729.86. NewMarket Corporation has a one year low of $580.03 and a one year high of $981.66.

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

NewMarket Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be issued a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Tuesday, September 15th. NewMarket’s dividend payout ratio is presently 25.82%.

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.