NewMarket Corporation (NEU) Shares Sold by ProShare Advisors LLC
ProShare Advisors LLC decreased its position in NewMarket Corporation (NYSE:NEU) by 17.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,222 shares of the specialty chemicals company’s stock after selling 257 shares during the period. ProShare Advisors LLC’s holdings in NewMarket Corporation were worth $563,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. US Bancorp DE boosted its stake in NewMarket Corporation by 2.5% in the 1st quarter. US Bancorp DE now owns 245 shares of the specialty chemicals company’s stock worth $111,000 after purchasing an additional 6 shares in the last quarter. Shine Investment Advisory Services Inc. bought a new position in NewMarket Corporation during the 2nd quarter valued at about $128,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of NewMarket Corporation by 24.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 416 shares of the specialty chemicals company’s stock valued at $192,000 after purchasing an additional 81 shares during the last quarter. Waldron LP purchased a new stake in shares of NewMarket Corporation during the 1st quarter valued at about $225,000. Finally, Menta Capital LLC purchased a new stake in shares of NewMarket Corporation during the 1st quarter valued at about $245,000. Institutional investors own 55.33% of the company’s stock.
NewMarket Corporation (NYSE:NEU) traded down 0.16% during midday trading on Friday, reaching $431.50. 20,935 shares of the company traded hands. The stock has a market capitalization of $5.11 billion, a P/E ratio of 20.97 and a beta of 0.75. The firm has a 50-day moving average of $424.31 and a 200-day moving average of $447.65. NewMarket Corporation has a 1-year low of $386.90 and a 1-year high of $483.86.
NewMarket Corporation (NYSE:NEU) last posted its quarterly earnings data on Wednesday, August 2nd. The specialty chemicals company reported $5.29 earnings per share for the quarter, missing analysts’ consensus estimates of $5.73 by ($0.44). NewMarket Corporation had a return on equity of 46.94% and a net margin of 11.57%. The company had revenue of $547.20 million for the quarter, compared to analyst estimates of $570.10 million. During the same period in the previous year, the business posted $5.50 earnings per share. The firm’s revenue was up 4.9% compared to the same quarter last year. On average, analysts predict that NewMarket Corporation will post $20.23 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Friday, September 15th were issued a $1.75 dividend. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $7.00 annualized dividend and a dividend yield of 1.62%. NewMarket Corporation’s dividend payout ratio is currently 34.03%.
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Separately, BidaskClub lowered shares of NewMarket Corporation from a “buy” rating to a “hold” rating in a research report on Saturday, June 24th.
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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