Tudor Investment Corp Et Al Takes $892,000 Position in NewMarket Co. (NYSE:NEU)

Christel Deskins

Tudor Investment Corp Et Al purchased a new stake in NewMarket Co. (NYSE:NEU) in the second quarter, according to its most recent filing with the SEC. The fund purchased 2,227 shares of the specialty chemicals company’s stock, valued at approximately $892,000. Several other hedge funds and other institutional investors have […]

Tudor Investment Corp Et Al purchased a new stake in NewMarket Co. (NYSE:NEU) in the second quarter, according to its most recent filing with the SEC. The fund purchased 2,227 shares of the specialty chemicals company’s stock, valued at approximately $892,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Stifel Financial Corp increased its holdings in shares of NewMarket by 1.6% in the 2nd quarter. Stifel Financial Corp now owns 7,798 shares of the specialty chemicals company’s stock valued at $3,123,000 after acquiring an additional 125 shares during the last quarter. London Co. of Virginia boosted its position in NewMarket by 8.2% during the 2nd quarter. London Co. of Virginia now owns 591,393 shares of the specialty chemicals company’s stock valued at $236,841,000 after purchasing an additional 44,920 shares during the period. FMR LLC boosted its position in NewMarket by 5.9% during the 2nd quarter. FMR LLC now owns 46,664 shares of the specialty chemicals company’s stock valued at $18,688,000 after purchasing an additional 2,610 shares during the period. TD Asset Management Inc. boosted its position in NewMarket by 52.7% during the 2nd quarter. TD Asset Management Inc. now owns 8,400 shares of the specialty chemicals company’s stock valued at $3,364,000 after purchasing an additional 2,900 shares during the period. Finally, Federated Hermes Inc. boosted its position in NewMarket by 93.8% during the 2nd quarter. Federated Hermes Inc. now owns 3,597 shares of the specialty chemicals company’s stock valued at $1,440,000 after purchasing an additional 1,741 shares during the period. Institutional investors and hedge funds own 56.71% of the company’s stock.

Separately, TheStreet lowered NewMarket from a “b” rating to a “c+” rating in a research report on Wednesday, July 29th.

NYSE:NEU opened at $366.24 on Friday. The business has a 50 day simple moving average of $379.35 and a 200 day simple moving average of $399.12. The firm has a market capitalization of $4.00 billion, a P/E ratio of 18.08 and a beta of 0.47. The company has a debt-to-equity ratio of 1.09, a current ratio of 3.38 and a quick ratio of 1.86. NewMarket Co. has a 12-month low of $304.65 and a 12-month high of $505.16.

NewMarket (NYSE:NEU) last announced its earnings results on Wednesday, July 29th. The specialty chemicals company reported $2.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.13 by ($5.08). The company had revenue of $410.86 million for the quarter. NewMarket had a return on equity of 34.91% and a net margin of 10.96%.

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be given a dividend of $1.90 per share. This represents a $7.60 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend is Monday, September 14th.

NewMarket Company Profile

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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Institutional Ownership by Quarter for NewMarket (NYSE:NEU)

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