Man Group plc Purchases New Holdings in NewMarket Corporation $NEU

Man Group plc acquired a new position in NewMarket Corporation (NYSE:NEU) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 2,214 shares of the specialty chemicals company’s stock, valued at approximately $1,752,000.

Several other large investors have also recently bought and sold shares of the company. Entropy Technologies LP acquired a new position in shares of NewMarket during the first quarter valued at $1,751,000. Northwestern Mutual Wealth Management Co. boosted its holdings in NewMarket by 4,647.9% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 5,555 shares of the specialty chemicals company’s stock valued at $3,818,000 after acquiring an additional 5,438 shares during the last quarter. Pacer Advisors Inc. increased its position in NewMarket by 1,469.5% in the fourth quarter. Pacer Advisors Inc. now owns 30,636 shares of the specialty chemicals company’s stock worth $21,055,000 after purchasing an additional 28,684 shares during the period. Natixis Advisors LLC increased its position in NewMarket by 12.0% in the fourth quarter. Natixis Advisors LLC now owns 32,238 shares of the specialty chemicals company’s stock worth $22,156,000 after purchasing an additional 3,453 shares during the period. Finally, BlackRock Inc. bought a new stake in NewMarket during the 2nd quarter worth about $556,339,000. Institutional investors and hedge funds own 61.09% of the company’s stock.

NewMarket Stock Performance

NEU stock opened at $902.39 on Wednesday. NewMarket Corporation has a twelve month low of $580.03 and a twelve month high of $981.66. The company has a quick ratio of 1.23, a current ratio of 2.25 and a debt-to-equity ratio of 0.47. The company has a market cap of $8.30 billion, a P/E ratio of 19.41 and a beta of 0.55. The business’s fifty day moving average is $843.32 and its 200-day moving average is $736.87.

NewMarket (NYSE:NEU) last announced its quarterly earnings data on Wednesday, July 29th. The specialty chemicals company reported $14.54 EPS 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 business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be issued a dividend of $3.00 per share. The ex-dividend date is Tuesday, September 15th. This represents a $12.00 dividend on an annualized basis and a yield of 1.3%. NewMarket’s dividend payout ratio (DPR) is 25.82%.

Analysts Set New Price Targets

NEU has been the topic of a number of research reports. Weiss Ratings upgraded shares of NewMarket from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, June 12th. Wall Street Zen upgraded shares of NewMarket from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, NewMarket has a consensus rating of “Buy”.

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.