Taylor Hoffman Wealth Management grew its holdings in NewMarket Co. (NYSE:NEU) by 7.6% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 2,643 shares of the specialty chemicals company’s stock after buying an additional 186 shares during the period. Taylor Hoffman Wealth Management’s holdings in NewMarket were worth $1,248,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Steward Partners Investment Advisory LLC acquired a new stake in NewMarket in the second quarter valued at approximately $41,000. Oppenheimer Asset Management Inc. grew its stake in shares of NewMarket by 49.4% during the second quarter. Oppenheimer Asset Management Inc. now owns 133 shares of the specialty chemicals company’s stock valued at $53,000 after buying an additional 44 shares during the last quarter. SRS Capital Advisors Inc. bought a new position in shares of NewMarket during the second quarter valued at approximately $54,000. Point72 Hong Kong Ltd grew its stake in shares of NewMarket by 41.2% during the second quarter. Point72 Hong Kong Ltd now owns 257 shares of the specialty chemicals company’s stock valued at $103,000 after buying an additional 75 shares during the last quarter. Finally, Simplex Trading LLC bought a new position in shares of NewMarket during the third quarter valued at approximately $149,000. 55.39% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE:NEU traded up $3.61 during trading on Friday, reaching $494.69. 30,524 shares of the company’s stock traded hands, compared to its average volume of 58,925. NewMarket Co. has a fifty-two week low of $378.24 and a fifty-two week high of $495.30. The company has a quick ratio of 1.63, a current ratio of 2.95 and a debt-to-equity ratio of 1.09. The firm has a market cap of $5.40 billion, a PE ratio of 24.32 and a beta of 0.44. The company has a 50-day simple moving average of $469.93 and a 200-day simple moving average of $438.37.
NewMarket (NYSE:NEU) last released its earnings results on Wednesday, October 23rd. The specialty chemicals company reported $6.06 earnings per share for the quarter, topping the Zacks’ consensus estimate of $5.93 by $0.13. The business had revenue of $555.82 million for the quarter. NewMarket had a net margin of 12.17% and a return on equity of 47.54%. On average, equities research analysts forecast that NewMarket Co. will post 23.42 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 16th will be paid a $1.90 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $7.60 annualized dividend and a dividend yield of 1.54%. NewMarket’s dividend payout ratio (DPR) is 37.36%.
A number of research firms have weighed in on NEU. Zacks Investment Research lowered NewMarket from a “hold” rating to a “sell” rating in a research note on Thursday. Buckingham Research upgraded NewMarket from an “underperform” rating to a “neutral” rating and set a $420.00 target price on the stock in a research report on Friday, August 2nd.
In other NewMarket news, CAO Bruce R. Hazelgrove III sold 171 shares of the business’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $479.16, for a total value of $81,936.36. Following the completion of the transaction, the chief accounting officer now owns 358 shares in the company, valued at $171,539.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 17.02% of the company’s stock.
NewMarket Corporation, through its subsidiaries, engages in the petroleum additives businesses. The company offers lubricant additives for use in various vehicle and industrial applications, including engine oils, transmission fluids, off-road powertrain and hydraulic systems, gear oils, hydraulic oils, turbine oils, metalworking fluids, and other applications where metal-to-metal moving parts are utilized; and engine oil, driveline, and industrial additives.
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