Principal Financial Group Inc. lessened its stake in NewMarket Co. (NYSE:NEU) by 0.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,892 shares of the specialty chemicals company’s stock after selling 306 shares during the quarter. Principal Financial Group Inc. owned about 0.33% of NewMarket worth $15,622,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently bought and sold shares of NEU. Captrust Financial Advisors acquired a new stake in NewMarket in the 4th quarter valued at about $184,000. Pzena Investment Management LLC acquired a new stake in NewMarket in the 1st quarter valued at about $292,000. Hsbc Holdings PLC increased its position in NewMarket by 22.2% in the 1st quarter. Hsbc Holdings PLC now owns 759 shares of the specialty chemicals company’s stock valued at $305,000 after acquiring an additional 138 shares in the last quarter. Xact Kapitalforvaltning AB acquired a new stake in NewMarket in the 4th quarter valued at about $312,000. Finally, Vident Investment Advisory LLC increased its position in NewMarket by 80.5% in the 4th quarter. Vident Investment Advisory LLC now owns 1,076 shares of the specialty chemicals company’s stock valued at $428,000 after acquiring an additional 480 shares in the last quarter. Hedge funds and other institutional investors own 55.66% of the company’s stock.
Several research analysts have recently issued reports on the stock. TheStreet raised shares of NewMarket from a “c” rating to a “b-” rating in a research note on Wednesday, April 25th. ValuEngine lowered shares of NewMarket from a “hold” rating to a “sell” rating in a research note on Saturday, June 2nd.
Shares of NYSE NEU opened at $397.33 on Tuesday. The stock has a market capitalization of $4.72 billion, a PE ratio of 21.60 and a beta of 0.74. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.60 and a current ratio of 2.93. NewMarket Co. has a 1 year low of $358.33 and a 1 year high of $470.43.
NewMarket (NYSE:NEU) last issued its earnings results on Wednesday, April 25th. The specialty chemicals company reported $5.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.60 by ($0.46). The business had revenue of $589.20 million during the quarter, compared to the consensus estimate of $573.20 million. NewMarket had a net margin of 8.34% and a return on equity of 35.41%. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period last year, the business posted $5.39 EPS.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 2nd. Stockholders of record on Friday, June 15th will be paid a $1.75 dividend. This represents a $7.00 annualized dividend and a dividend yield of 1.76%. The ex-dividend date of this dividend is Thursday, June 14th.
In other NewMarket news, Treasurer Cameron D. Warner bought 264 shares of NewMarket stock in a transaction dated Tuesday, May 1st. The shares were bought at an average price of $377.68 per share, with a total value of $99,707.52. Following the purchase, the treasurer now owns 762 shares of the company’s stock, valued at $287,792.16. The transaction was disclosed in a document filed with the SEC, which is available at this link. 16.91% of the stock is currently owned by company insiders.
NewMarket Corporation, through its subsidiaries, engages in the petroleum additives businesses. It offers lubricant additives for use in various vehicle and industrial applications, such as engine oils, transmission fluids, off-road powertrain and hydraulic systems, gear oils, hydraulic oils, turbine oils, metalworking fluids, and in other applications where metal-to-metal moving parts are utilized; and engine oil, driveline, and industrial additives.
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