First Heartland Consultants Inc. continued to hold its position in NewMarket Corporation (NYSE:NEU) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 629 shares of the specialty chemicals company’s stock at the end of the second quarter. First Heartland Consultants Inc.’s holdings in NewMarket Corporation were worth $290,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in the company. State Treasurer State of Michigan boosted its position in NewMarket Corporation by 2.7% in the first quarter. State Treasurer State of Michigan now owns 3,800 shares of the specialty chemicals company’s stock worth $1,722,000 after buying an additional 100 shares in the last quarter. OLD National Bancorp IN boosted its position in NewMarket Corporation by 7.6% in the first quarter. OLD National Bancorp IN now owns 739 shares of the specialty chemicals company’s stock worth $335,000 after buying an additional 52 shares in the last quarter. Great West Life Assurance Co. Can boosted its position in NewMarket Corporation by 3.4% in the first quarter. Great West Life Assurance Co. Can now owns 5,588 shares of the specialty chemicals company’s stock worth $2,529,000 after buying an additional 183 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in NewMarket Corporation during the first quarter worth about $1,813,000. Finally, BB&T Corp boosted its position in NewMarket Corporation by 9.0% in the first quarter. BB&T Corp now owns 567 shares of the specialty chemicals company’s stock worth $257,000 after buying an additional 47 shares in the last quarter. Institutional investors and hedge funds own 56.64% of the company’s stock.
Shares of NewMarket Corporation (NEU) traded up 0.23% during trading on Friday, reaching $421.93. 56,368 shares of the company’s stock traded hands. The company’s 50-day moving average is $454.30 and its 200 day moving average is $452.52. NewMarket Corporation has a 52-week low of $386.90 and a 52-week high of $483.86. The company has a market cap of $5.00 billion, a price-to-earnings ratio of 20.51 and a beta of 0.74.
NewMarket Corporation (NYSE:NEU) last issued its earnings results on Wednesday, August 2nd. The specialty chemicals company reported $5.29 EPS for the quarter, missing the consensus estimate of $5.73 by $0.44. NewMarket Corporation had a return on equity of 46.94% and a net margin of 11.57%. The firm had revenue of $547.20 million during the quarter, compared to analysts’ expectations of $570.10 million. During the same period in the previous year, the firm earned $5.50 earnings per share. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. Equities analysts forecast that NewMarket Corporation will post $20.23 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 15th will be paid a $1.75 dividend. This represents a $7.00 annualized dividend and a dividend yield of 1.66%. The ex-dividend date is Thursday, September 14th. NewMarket Corporation’s payout ratio is 34.03%.
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Separately, BidaskClub cut shares of NewMarket Corporation from a “buy” rating to a “hold” rating in a research report on Saturday, June 24th.
In related news, insider Robert A. Shama sold 230 shares of NewMarket Corporation stock in a transaction on Monday, May 15th. The shares were sold at an average price of $458.60, for a total value of $105,478.00. Following the transaction, the insider now directly owns 1,850 shares of the company’s stock, valued at $848,410. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 16.83% of the stock is owned by insiders.
About NewMarket Corporation
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). The Company operates through petroleum additives segment, which is primarily represented by Afton.
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