NewMarket Corporation (NEU) : Blue Edge Capital added new position in NewMarket Corporation during the most recent quarter end. The investment management firm now holds 8,397 shares of NewMarket Corporation which is valued at $3.4 Million , the company said in a statement filed on May 13, 2016 with the SEC.NewMarket Corporation makes up approximately 2.03% of Blue Edge Capital’s portfolio.
Other Hedge Funds, Including , Menta Capital sold out all of its stake in NEU during the most recent quarter. The investment firm sold 1,390 shares of NEU which is valued $558,919.Blackrock Group Ltd boosted its stake in NEU in the latest quarter, The investment management firm added 1,099 additional shares and now holds a total of 7,614 shares of NewMarket Corporation which is valued at $3.1 Million.Pitcairn Co reduced its stake in NEU by selling 4 shares or 0.56% in the most recent quarter. The Hedge Fund company now holds 707 shares of NEU which is valued at $287,084. NewMarket Corporation makes up approx 0.04% of Pitcairn Co’s portfolio.
NewMarket Corporation opened for trading at $404.9 and hit $406 on the upside on Wednesday, eventually ending the session at $404.11, with a gain of 0.19% or 0.78 points. The heightened volatility saw the trading volume jump to 16,371 shares. Company has a market cap of $4,788 M.
On the company’s financial health, NewMarket Corporation reported $5.42 EPS for the quarter, beating the analyst consensus estimate by $ 0.56 according to the earnings call on Apr 27, 2016. Analyst had a consensus of $4.86. The company had revenue of $509.90 million for the quarter, compared to analysts expectations of $525.03 million. The company’s revenue was down -8.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $5.26 EPS.
Investors should note that on Apr 28, 2016, NewMarket Corporation announced a cash dividend of $1.6000. The company’s management has announced Jun 13, 2016 as the ex-dividend date and fixed the record date on Jun 15, 2016. The payable date has been fixed on Jul 1, 2016.
Many Wall Street Analysts have commented on NewMarket Corporation. NewMarket Corporation was Upgraded by Longbow to ” Buy” on Mar 10, 2016.
NewMarket Corporation (NewMarket) is a holding company and is the parent company of Afton Chemical Corporation (Afton) Ethyl Corporation (Ethyl) NewMarket Services Corporation (NewMarket Services) and NewMarket Development Corporation (NewMarket Development). Each of its the Company’s subsidiaries manages its own assets and liabilities. Afton encompasses the petroleum additives business while Ethyl represents the sale of tetraethyl lead (TEL) in North America and certain petroleum additives manufacturing operations. NewMarket Development manages the property that it owns in Virginia. NewMarket Services provides various administrative services to NewMarket Afton Ethyl and NewMarket Development. The Company’s business consists of one segment petroleum additives which is primarily represented by Afton. The TEL business of Ethyl is reflected in the ‘All other’ category. The ‘All Other’ also includes contract manufacturing performed by Ethyl.