Sequoia Financial Advisors LLC has acquired a stake in NewMarket Corporation, purchasing 479 shares valued at approximately $331,000. This transaction occurred during the second quarter of the year and was disclosed to the Securities and Exchange Commission (SEC).
Several institutional investors have also recently adjusted their holdings in NewMarket Corporation (NYSE:NEU). Notably, Caitong International Asset Management Co. Ltd increased its stake by an impressive 587.5% in the first quarter, ending with 55 shares valued at $31,000 after acquiring an additional 47 shares. Similarly, Private Trust Co. NA raised its position by 185.2%, now holding 77 shares worth $44,000 following a purchase of 50 shares.
MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. doubled its stake, increasing ownership to 78 shares, also valued at $44,000 after acquiring another 39 shares. Additionally, ST Germain D J Co. Inc. entered the market with a new stake valued at about $83,000. Northwestern Mutual Wealth Management Co. also increased its holdings by 13.1%, now owning 198 shares valued at $112,000 after buying an extra 23 shares. Overall, institutional investors now control 61.09% of NewMarket’s stock.
Analyst Ratings and Stock Performance
Recent evaluations from financial analysts have offered mixed insights regarding NewMarket’s stock. Weiss Ratings reaffirmed a “buy (B+)” rating on October 8, indicating confidence in the company’s performance. Conversely, Wall Street Zen downgraded NewMarket from a “buy” to a “hold” rating in late August. Currently, one analyst has rated the stock as a buy, yielding an average rating of “buy,” according to MarketBeat.
As of Wednesday, shares of NewMarket opened at $760.26. The company boasts a market capitalization of $7.14 billion, a price-to-earnings ratio of 15.07, and a beta of 0.45. The debt-to-equity ratio stands at 0.52, with a current ratio of 2.66 and a quick ratio of 1.43. The stock has shown considerable movement, with a one-year low of $480.00 and a high of $875.97.
NewMarket Corporation announced its quarterly earnings results on July 30, revealing earnings per share (EPS) of $11.84 for the quarter, alongside revenue of $698.51 million. The company reported a net margin of 17.28% and a return on equity of 32.25%.
Dividend Declaration and Corporate Overview
In addition to its stock performance, NewMarket recently declared a quarterly dividend of $2.75, which was paid out on October 1. Shareholders of record on September 15 received this dividend, which translates to an annualized dividend of $11.00 and a yield of 1.4%. The company’s dividend payout ratio currently stands at 21.80%.
NewMarket Corporation, through its subsidiaries, specializes in the manufacture and sale of petroleum additives. Its product range includes lubricant additives for various vehicle and industrial applications, such as engine oils and hydraulic fluids, servicing both consumer and commercial sectors. The company’s focus on innovation and quality positions it strongly within the specialty chemicals industry.
