Red Door Wealth Management LLC Acquires New Holdings in NewMarket Co. (NYSE:NEU)

Red Door Wealth Management LLC bought a new position in NewMarket Co. (NYSE:NEU) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 326 shares of the specialty chemicals company’s stock, valued at approximately $207,000.

Several other hedge funds also recently modified their holdings of the business. Envestnet Asset Management Inc. boosted its holdings in NewMarket by 57.8% in the third quarter. Envestnet Asset Management Inc. now owns 26,096 shares of the specialty chemicals company’s stock worth $11,875,000 after purchasing an additional 9,557 shares in the last quarter. Mariner LLC increased its holdings in shares of NewMarket by 4.2% during the 3rd quarter. Mariner LLC now owns 1,772 shares of the specialty chemicals company’s stock valued at $806,000 after acquiring an additional 71 shares during the last quarter. Federated Hermes Inc. raised its stake in shares of NewMarket by 45.8% in the 3rd quarter. Federated Hermes Inc. now owns 1,248 shares of the specialty chemicals company’s stock valued at $568,000 after acquiring an additional 392 shares in the last quarter. Northern Trust Corp lifted its holdings in NewMarket by 10.0% in the 3rd quarter. Northern Trust Corp now owns 64,687 shares of the specialty chemicals company’s stock worth $29,435,000 after purchasing an additional 5,877 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its position in NewMarket by 59.5% during the third quarter. O Shaughnessy Asset Management LLC now owns 2,190 shares of the specialty chemicals company’s stock worth $997,000 after purchasing an additional 817 shares during the period. Institutional investors and hedge funds own 61.09% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of NewMarket from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 20th.

NewMarket Stock Up 1.0 %

NewMarket stock opened at $515.57 on Monday. The firm has a market cap of $4.94 billion, a price-to-earnings ratio of 12.40 and a beta of 0.48. The firm has a fifty day moving average price of $540.49 and a two-hundred day moving average price of $574.96. NewMarket Co. has a fifty-two week low of $399.37 and a fifty-two week high of $650.00. The company has a debt-to-equity ratio of 1.11, a current ratio of 2.86 and a quick ratio of 1.60.

NewMarket (NYSE:NEU) last announced its earnings results on Wednesday, April 24th. The specialty chemicals company reported $11.23 earnings per share for the quarter. The firm had revenue of $696.74 million during the quarter. NewMarket had a return on equity of 38.99% and a net margin of 14.82%.

NewMarket Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be paid a dividend of $2.50 per share. This represents a $10.00 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend is Friday, June 14th. NewMarket’s payout ratio is currently 24.06%.

About NewMarket

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.