Moisand Fitzgerald Tamayo LLC acquired a new stake in shares of NewMarket Corp. (NYSE:NEU) during the third quarter, Holdings Channel reports. The institutional investor acquired 672 shares of the company’s stock, valued at approximately $289,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Advisor Group Inc. purchased a new stake in NewMarket Corp. during the second quarter valued at $121,000. Fuller & Thaler Asset Management Inc. increased its position in shares of NewMarket Corp. by 697.7% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 343 shares of the company’s stock worth $142,000 after buying an additional 300 shares in the last quarter. CENTRAL TRUST Co increased its position in shares of NewMarket Corp. by 68.9% in the third quarter. CENTRAL TRUST Co now owns 402 shares of the company’s stock worth $173,000 after buying an additional 164 shares in the last quarter. World Asset Management Inc purchased a new position in shares of NewMarket Corp. during the second quarter worth approximately $201,000. Finally, US Bancorp DE increased its position in shares of NewMarket Corp. by 1.5% in the third quarter. US Bancorp DE now owns 472 shares of the company’s stock worth $202,000 after buying an additional 7 shares in the last quarter. Hedge funds and other institutional investors own 57.52% of the company’s stock.
Shares of NewMarket Corp. (NYSE:NEU) opened at 403.101 on Monday. NewMarket Corp. has a 52 week low of $322.54 and a 52 week high of $447.97. The stock’s 50 day moving average price is $404.56 and its 200-day moving average price is $414.44. The stock has a market cap of $4.78 billion, a price-to-earnings ratio of 19.037 and a beta of 0.65.
NewMarket Corp. (NYSE:NEU) last released its quarterly earnings results on Wednesday, October 26th. The company reported $6.00 earnings per share for the quarter, topping analysts’ consensus estimates of $5.22 by $0.78. The business earned $516.09 million during the quarter, compared to analysts’ expectations of $521.10 million. NewMarket Corp. had a return on equity of 60.19% and a net margin of 12.41%. The company’s revenue was down 4.6% compared to the same quarter last year. During the same period in the prior year, the business posted $5.08 EPS. Equities analysts anticipate that NewMarket Corp. will post $21.07 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, January 2nd. Stockholders of record on Thursday, December 15th will be issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date is Tuesday, December 13th. NewMarket Corp.’s dividend payout ratio is presently 30.22%.
NEU has been the subject of a number of recent research reports. Zacks Investment Research downgraded shares of NewMarket Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, September 28th. BMO Capital Markets downgraded shares of NewMarket Corp. from an “outperform” rating to a “market perform” rating in a report on Friday, September 30th.
About NewMarket Corp.
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). It operates in petroleum additives segment, which is primarily represented by Afton.