Caitong International Asset Management Co. Ltd Acquires 855 Shares of NewMarket Corporation $NEU

Caitong International Asset Management Co. Ltd lifted its holdings in shares of NewMarket Corporation (NYSE:NEU) by 10,687.5% during the fourth quarter, HoldingsChannel reports. The firm owned 863 shares of the specialty chemicals company’s stock after purchasing an additional 855 shares during the quarter. Caitong International Asset Management Co. Ltd’s holdings in NewMarket were worth $593,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Los Angeles Capital Management LLC purchased a new position in NewMarket in the fourth quarter valued at about $25,000. Ameriflex Group Inc. purchased a new stake in shares of NewMarket during the 3rd quarter worth approximately $27,000. International Assets Investment Management LLC purchased a new stake in shares of NewMarket during the 4th quarter worth approximately $27,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings 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 worth $44,000 after purchasing an additional 39 shares during the period. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA raised its holdings in shares of NewMarket by 50.0% in the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 75 shares of the specialty chemicals company’s stock worth $52,000 after purchasing an additional 25 shares during the period. 61.09% of the stock is owned by hedge funds and other institutional investors.

NewMarket Price Performance

Shares of NYSE:NEU opened at $777.28 on Friday. The company’s fifty day moving average price is $722.47 and its 200-day moving average price is $687.47. NewMarket Corporation has a one year low of $580.03 and a one year high of $875.97. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.55 and a quick ratio of 1.37. The firm has a market capitalization of $7.15 billion, a price-to-earnings ratio of 17.75 and a beta of 0.56.

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

NewMarket Announces Dividend

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

Analysts Set New Price Targets

Separately, Weiss Ratings raised NewMarket from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, June 12th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company presently has an average 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.