Citigroup Inc. Grows Stock Position in NewMarket Corporation $NEU

Citigroup Inc. increased its holdings in NewMarket Corporation (NYSE:NEU) by 53.3% in the 3rd quarter, HoldingsChannel reports. The fund owned 23,841 shares of the specialty chemicals company’s stock after purchasing an additional 8,285 shares during the quarter. Citigroup Inc.’s holdings in NewMarket were worth $19,745,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NEU. Winnow Wealth LLC purchased a new position in shares of NewMarket during the 3rd quarter worth $29,000. Root Financial Partners LLC acquired a new position in NewMarket in the third quarter valued at about $30,000. Smartleaf Asset Management LLC boosted its stake in NewMarket by 125.0% during the third quarter. Smartleaf Asset Management LLC now owns 45 shares of the specialty chemicals company’s stock worth $37,000 after buying an additional 25 shares during the period. Quent Capital LLC acquired a new stake in shares of NewMarket during the third quarter valued at about $43,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of NewMarket by 100.0% in 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 acquiring an additional 39 shares during the period. Hedge funds and other institutional investors own 61.09% of the company’s stock.

Insider Buying and Selling at NewMarket

In other news, Director Ting Xu bought 400 shares of NewMarket stock in a transaction that occurred on Tuesday, February 24th. The shares were purchased at an average price of $619.21 per share, with a total value of $247,684.00. Following the completion of the acquisition, the director directly owned 929 shares in the company, valued at $575,246.09. The trade was a 75.61% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 19.10% of the company’s stock.

NewMarket Stock Performance

NYSE:NEU opened at $628.15 on Friday. NewMarket Corporation has a 52 week low of $510.07 and a 52 week high of $875.97. The company has a fifty day simple moving average of $671.50 and a two-hundred day simple moving average of $746.67. The company has a quick ratio of 1.33, a current ratio of 2.53 and a debt-to-equity ratio of 0.50. The company has a market cap of $5.90 billion, a price-to-earnings ratio of 14.14 and a beta of 0.48.

NewMarket (NYSE:NEU) last released its earnings results on Wednesday, February 11th. The specialty chemicals company reported $8.65 earnings per share (EPS) for the quarter. NewMarket had a return on equity of 25.38% and a net margin of 15.37%.The firm had revenue of $635.40 million during the quarter.

NewMarket Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 16th will be paid a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Monday, March 16th. NewMarket’s dividend payout ratio is presently 27.01%.

Analyst Ratings Changes

Separately, Weiss Ratings cut shares of NewMarket from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, February 13th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently 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.