Exchange Traded Concepts LLC Purchases New Holdings in NewMarket Corporation $NEU

Exchange Traded Concepts LLC purchased a new position in shares of NewMarket Corporation (NYSE:NEU) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 992 shares of the specialty chemicals company’s stock, valued at approximately $822,000.

A number of other hedge funds have also recently added to or reduced their stakes in NEU. Parallel Advisors LLC lifted its position in shares of NewMarket by 2.1% during the 2nd quarter. Parallel Advisors LLC now owns 740 shares of the specialty chemicals company’s stock valued at $511,000 after acquiring an additional 15 shares during the period. GAMMA Investing LLC raised its stake in NewMarket by 7.3% in the third quarter. GAMMA Investing LLC now owns 220 shares of the specialty chemicals company’s stock valued at $182,000 after purchasing an additional 15 shares in the last quarter. MAI Capital Management lifted its position in NewMarket by 20.8% during the second quarter. MAI Capital Management now owns 122 shares of the specialty chemicals company’s stock worth $84,000 after purchasing an additional 21 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in NewMarket by 13.1% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 198 shares of the specialty chemicals company’s stock worth $112,000 after buying an additional 23 shares in the last quarter. Finally, Ritholtz Wealth Management increased its holdings in NewMarket by 2.4% in the 2nd quarter. Ritholtz Wealth Management now owns 1,110 shares of the specialty chemicals company’s stock valued at $767,000 after buying an additional 26 shares during the period. Institutional investors own 61.09% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of NewMarket in a report on Monday, December 22nd. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy”.

NewMarket Price Performance

Shares of NEU opened at $709.27 on Monday. The company has a quick ratio of 1.43, a current ratio of 2.68 and a debt-to-equity ratio of 0.46. The stock has a market cap of $6.67 billion, a PE ratio of 14.99 and a beta of 0.49. NewMarket Corporation has a 12-month low of $480.00 and a 12-month high of $875.97. The business has a 50-day simple moving average of $752.95 and a two-hundred day simple moving average of $758.58.

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

NewMarket Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 15th will be paid a dividend of $3.00 per share. This is an increase from NewMarket’s previous quarterly dividend of $2.75. This represents a $12.00 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Monday, December 15th. NewMarket’s payout ratio is 25.35%.

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.