Starr International Co. Inc. purchased a new stake in shares of NewMarket Co. (NYSE:NEU) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 7,761 shares of the specialty chemicals company’s stock, valued at approximately $3,365,000. NewMarket accounts for 1.3% of Starr International Co. Inc.’s investment portfolio, making the stock its 27th largest holding. Starr International Co. Inc. owned about 0.07% of NewMarket at the end of the most recent reporting period.
A number of other large investors have also made changes to their positions in the stock. Norges Bank purchased a new position in shares of NewMarket during the 4th quarter worth approximately $32,229,000. Ellis Investment Partners LLC purchased a new position in shares of NewMarket during the 1st quarter worth approximately $46,000. WINTON GROUP Ltd grew its holdings in shares of NewMarket by 154.9% during the 4th quarter. WINTON GROUP Ltd now owns 69,098 shares of the specialty chemicals company’s stock worth $28,475,000 after acquiring an additional 41,988 shares during the period. FMR LLC bought a new stake in shares of NewMarket in the 3rd quarter worth approximately $9,533,000. Finally, Pennsylvania Trust Co bought a new stake in shares of NewMarket in the 1st quarter worth approximately $3,601,000. Institutional investors own 55.82% of the company’s stock.
Separately, Buckingham Research assumed coverage on NewMarket in a research report on Monday, April 1st. They issued an “underperform” rating and a $380.00 price target on the stock.
Shares of NEU traded down $0.47 during mid-day trading on Friday, reaching $408.00. The company had a trading volume of 45,122 shares, compared to its average volume of 43,494. The company has a quick ratio of 1.77, a current ratio of 3.29 and a debt-to-equity ratio of 1.53. NewMarket Co. has a 52 week low of $352.89 and a 52 week high of $452.54. The stock has a market cap of $4.54 billion, a P/E ratio of 20.06 and a beta of 0.47.
NewMarket (NYSE:NEU) last released its quarterly earnings data on Wednesday, April 24th. The specialty chemicals company reported $5.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.81 by ($0.24). The business had revenue of $536.62 million during the quarter. NewMarket had a net margin of 10.57% and a return on equity of 44.09%. On average, equities analysts anticipate that NewMarket Co. will post 21.41 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 17th will be given a $1.75 dividend. The ex-dividend date is Friday, June 14th. This represents a $7.00 annualized dividend and a yield of 1.72%. NewMarket’s dividend payout ratio (DPR) is presently 34.41%.
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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