Citigroup Inc. Boosts Stock Position in NewMarket Co. (NYSE:NEU)

Citigroup Inc. lifted its holdings in NewMarket Co. (NYSE:NEU) by 51.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,679 shares of the specialty chemicals company’s stock after purchasing an additional 2,262 shares during the quarter. Citigroup Inc. owned 0.07% of NewMarket worth $3,686,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Charles Schwab Investment Management Inc. lifted its position in NewMarket by 10.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 78,746 shares of the specialty chemicals company’s stock worth $43,459,000 after buying an additional 7,719 shares during the last quarter. Thrivent Financial for Lutherans lifted its position in NewMarket by 8.0% in the third quarter. Thrivent Financial for Lutherans now owns 1,803 shares of the specialty chemicals company’s stock worth $995,000 after buying an additional 134 shares during the last quarter. Mutual of America Capital Management LLC lifted its position in NewMarket by 4.8% in the third quarter. Mutual of America Capital Management LLC now owns 4,147 shares of the specialty chemicals company’s stock worth $2,289,000 after buying an additional 191 shares during the last quarter. Natixis Advisors LLC lifted its position in NewMarket by 19.4% in the third quarter. Natixis Advisors LLC now owns 17,254 shares of the specialty chemicals company’s stock worth $9,522,000 after buying an additional 2,807 shares during the last quarter. Finally, Empowered Funds LLC lifted its position in NewMarket by 19.1% in the third quarter. Empowered Funds LLC now owns 924 shares of the specialty chemicals company’s stock worth $510,000 after buying an additional 148 shares during the last quarter. 61.09% of the stock is owned by hedge funds and other institutional investors.

NewMarket Stock Up 0.9 %

Shares of NEU opened at $546.14 on Thursday. The company has a market cap of $5.24 billion, a PE ratio of 12.13 and a beta of 0.50. The business has a fifty day moving average of $537.63 and a 200 day moving average of $540.62. NewMarket Co. has a 52-week low of $494.04 and a 52-week high of $650.00. The company has a quick ratio of 1.50, a current ratio of 2.83 and a debt-to-equity ratio of 0.80.

NewMarket (NYSE:NEU) last released its earnings results on Wednesday, October 23rd. The specialty chemicals company reported $13.79 earnings per share for the quarter. NewMarket had a return on equity of 35.79% and a net margin of 15.57%. The business had revenue of $724.95 million during the quarter.

NewMarket Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 16th will be given a dividend of $2.50 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $10.00 annualized dividend and a dividend yield of 1.83%. NewMarket’s dividend payout ratio (DPR) is 22.21%.

NewMarket Company Profile

NewMarket Corporation, through its subsidiaries, primarily engages in the manufacture and sale of petroleum additives. 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, and other applications where metal-to-metal moving parts are utilized; engine oil additives designed for passenger cars, motorcycles, on and off-road heavy duty commercial equipment, locomotives, and engines in ocean-going vessels; driveline additives designed for products, such as transmission fluids, axle fluids, and off-road powertrain fluids; and industrial additives designed for products for industrial applications consisting of hydraulic fluids, grease, industrial gear fluids, and industrial specialty applications, such as turbine oils.