Gotham Asset Management LLC Acquires 21,026 Shares of NewMarket Corporation $NEU

by · The Markets Daily

Gotham Asset Management LLC raised its holdings in shares of NewMarket Corporation (NYSE:NEU – Free Report) by 89.2% in the third quarter, Holdings Channel reports. The institutional investor owned 44,610 shares of the specialty chemicals company’s stock after buying an additional 21,026 shares during the quarter. Gotham Asset Management LLC’s holdings in NewMarket were worth $36,946,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Ameriflex Group Inc. acquired a new stake in shares of NewMarket in the third quarter worth $27,000. Winnow Wealth LLC bought a new position in NewMarket during the third quarter worth $29,000. Root Financial Partners LLC acquired a new position in NewMarket during the 3rd quarter valued at $30,000. Smartleaf Asset Management LLC raised its stake in NewMarket by 125.0% during the 3rd quarter. Smartleaf Asset Management LLC now owns 45 shares of the specialty chemicals company’s stock valued at $37,000 after purchasing an additional 25 shares during the last quarter. Finally, Quent Capital LLC bought a new stake in NewMarket in the 3rd quarter valued at $43,000. 61.09% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded shares of NewMarket from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 2nd. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy”.

View Our Latest Analysis on NEU

NewMarket Trading Down 0.4%

NEU stock opened at $585.46 on Monday. NewMarket Corporation has a 1-year low of $510.07 and a 1-year high of $875.97. The company has a current ratio of 2.53, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. The business’s 50 day moving average is $652.96 and its 200-day moving average is $733.42. The firm has a market cap of $5.50 billion, a P/E ratio of 13.18 and a beta of 0.50.

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

NewMarket Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 16th will be issued a dividend of $3.00 per share. The ex-dividend date of this dividend is Monday, March 16th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.0%. NewMarket’s dividend payout ratio (DPR) is presently 27.01%.

Insider Activity

In other news, Director Ting Xu bought 400 shares of NewMarket stock in a transaction dated Tuesday, February 24th. The shares were bought at an average price of $619.21 per share, for a total transaction of $247,684.00. Following the purchase, the director owned 929 shares of the company’s stock, valued at approximately $575,246.09. This trade represents a 75.61% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 19.10% of the company’s stock.

About NewMarket

(Free Report)

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.

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