Citadel Advisors LLC raised its position in shares of NewMarket Corporation (NYSE:NEU) by 34.4% during the first quarter, according to its most recent filing with the SEC. The fund owned 12,294 shares of the specialty chemicals company’s stock after buying an additional 3,149 shares during the period. Citadel Advisors LLC’s holdings in NewMarket Corporation were worth $5,572,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in NEU. Morgan Stanley boosted its stake in shares of NewMarket Corporation by 12.8% in the first quarter. Morgan Stanley now owns 30,457 shares of the specialty chemicals company’s stock worth $13,805,000 after buying an additional 3,465 shares during the period. Johnson Financial Group Inc. boosted its stake in shares of NewMarket Corporation by 1.3% in the first quarter. Johnson Financial Group Inc. now owns 4,316 shares of the specialty chemicals company’s stock worth $1,956,000 after buying an additional 56 shares during the period. UBS Group AG boosted its stake in shares of NewMarket Corporation by 50.2% in the first quarter. UBS Group AG now owns 5,595 shares of the specialty chemicals company’s stock worth $2,536,000 after buying an additional 1,870 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of NewMarket Corporation by 4.6% in the first quarter. Dimensional Fund Advisors LP now owns 65,644 shares of the specialty chemicals company’s stock worth $29,751,000 after buying an additional 2,883 shares during the period. Finally, Liberty Mutual Group Asset Management Inc. boosted its stake in shares of NewMarket Corporation by 5.0% in the first quarter. Liberty Mutual Group Asset Management Inc. now owns 4,060 shares of the specialty chemicals company’s stock worth $1,840,000 after buying an additional 194 shares during the period. Hedge funds and other institutional investors own 56.62% of the company’s stock.
Shares of NewMarket Corporation (NYSE:NEU) traded down 0.18% during mid-day trading on Friday, hitting $464.76. 26,483 shares of the stock were exchanged. The firm has a market cap of $5.51 billion, a P/E ratio of 22.43 and a beta of 0.75. The stock’s 50 day moving average is $465.88 and its 200 day moving average is $444.26. NewMarket Corporation has a 12 month low of $385.66 and a 12 month high of $483.86.
NewMarket Corporation (NYSE:NEU) last posted its quarterly earnings results on Wednesday, April 26th. The specialty chemicals company reported $5.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.04 by $1.35. NewMarket Corporation had a return on equity of 51.17% and a net margin of 11.79%. The business had revenue of $542.80 million for the quarter, compared to the consensus estimate of $509 million. During the same quarter in the prior year, the company earned $5.42 EPS. The business’s revenue was up 6.5% compared to the same quarter last year. Analysts expect that NewMarket Corporation will post $20.56 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 3rd. Stockholders of record on Thursday, June 15th will be given a dividend of $1.75 per share. This represents a $7.00 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date of this dividend is Tuesday, June 13th. NewMarket Corporation’s payout ratio is 33.80%.
In other news, insider Robert A. Shama sold 230 shares of the stock in a transaction on Monday, May 15th. The stock was sold at an average price of $458.60, for a total transaction of $105,478.00. Following the transaction, the insider now owns 1,850 shares of the company’s stock, valued at approximately $848,410. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 16.83% of the stock is currently owned by corporate insiders.
About NewMarket Corporation
NewMarket Corporation is a holding company. The Company is the parent company of Afton Chemical Corporation (Afton), Ethyl Corporation (Ethyl), NewMarket Services Corporation (NewMarket Services), and NewMarket Development Corporation (NewMarket Development). The Company operates through petroleum additives segment, which is primarily represented by Afton.
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