Northwestern Mutual Wealth Management Co. Raises Stock Position in NewMarket Corporation $NEU

Northwestern Mutual Wealth Management Co. increased its stake in NewMarket Corporation (NYSE:NEU) by 13.1% in the 1st quarter, Holdings Channel.com reports. The fund owned 198 shares of the specialty chemicals company’s stock after acquiring an additional 23 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in NewMarket were worth $112,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NEU. Northern Trust Corp boosted its stake in NewMarket by 23.8% during the 4th quarter. Northern Trust Corp now owns 80,156 shares of the specialty chemicals company’s stock worth $42,350,000 after purchasing an additional 15,424 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in NewMarket by 96.3% during the 4th quarter. BNP Paribas Financial Markets now owns 2,777 shares of the specialty chemicals company’s stock worth $1,467,000 after purchasing an additional 1,362 shares during the last quarter. Cetera Investment Advisers boosted its stake in NewMarket by 25.1% during the 4th quarter. Cetera Investment Advisers now owns 1,537 shares of the specialty chemicals company’s stock worth $812,000 after purchasing an additional 308 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in NewMarket during the 4th quarter worth $212,000. Finally, Fiduciary Trust Co boosted its stake in NewMarket by 262.3% during the 4th quarter. Fiduciary Trust Co now owns 2,210 shares of the specialty chemicals company’s stock worth $1,168,000 after purchasing an additional 1,600 shares during the last quarter. Institutional investors and hedge funds own 61.09% of the company’s stock.

NewMarket Trading Down 0.8%

Shares of NEU stock opened at $813.78 on Friday. The company’s 50-day moving average price is $750.05 and its 200-day moving average price is $648.85. The company has a current ratio of 2.66, a quick ratio of 1.43 and a debt-to-equity ratio of 0.52. The stock has a market cap of $7.65 billion, a price-to-earnings ratio of 16.13 and a beta of 0.49. NewMarket Corporation has a twelve month low of $480.00 and a twelve month high of $835.10.

NewMarket (NYSE:NEU) last announced its quarterly earnings results on Wednesday, July 30th. The specialty chemicals company reported $11.84 earnings per share for the quarter. The firm had revenue of $698.51 million for the quarter. NewMarket had a net margin of 17.28% and a return on equity of 32.25%.

NewMarket Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be given a $2.75 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $11.00 dividend on an annualized basis and a yield of 1.4%. NewMarket’s dividend payout ratio is presently 21.80%.

Analysts Set New Price Targets

Separately, Wall Street Zen cut shares of NewMarket from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th.

NewMarket Company Profile

NewMarket Corporation, through its subsidiaries, primarily engages in the manufacture and sale of petroleum additives. 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, and other applications where metal-to-metal moving parts are utilized; engine oil additives designed for passenger cars, motorcycles, on and off-road heavy duty commercial equipment, locomotives, and engines in ocean-going vessels; driveline additives designed for products, such as transmission fluids, axle fluids, and off-road powertrain fluids; and industrial additives designed for products for industrial applications consisting of hydraulic fluids, grease, industrial gear fluids, and industrial specialty applications, such as turbine oils.