Algert Global LLC Reduces Stock Holdings in NewMarket Co. (NYSE:NEU)

Algert Global LLC decreased its holdings in NewMarket Co. (NYSE:NEU) by 55.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,617 shares of the specialty chemicals company’s stock after selling 2,020 shares during the quarter. Algert Global LLC’s holdings in NewMarket were worth $892,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NEU. Headlands Technologies LLC purchased a new stake in NewMarket in the second quarter worth $33,000. Quest Partners LLC purchased a new stake in NewMarket in the second quarter worth $38,000. Blue Trust Inc. lifted its stake in NewMarket by 590.9% in the third quarter. Blue Trust Inc. now owns 76 shares of the specialty chemicals company’s stock worth $39,000 after acquiring an additional 65 shares during the period. Ashton Thomas Private Wealth LLC purchased a new stake in NewMarket in the second quarter worth $54,000. Finally, nVerses Capital LLC purchased a new stake in NewMarket in the second quarter worth $103,000. Hedge funds and other institutional investors own 61.09% of the company’s stock.

NewMarket Stock Performance

Shares of NewMarket stock opened at $532.41 on Friday. The company has a current ratio of 2.83, a quick ratio of 1.50 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $5.11 billion, a P/E ratio of 11.82 and a beta of 0.50. The business has a fifty day simple moving average of $538.24 and a two-hundred day simple moving average of $540.99. NewMarket Co. has a 12 month low of $494.04 and a 12 month high of $650.00.

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

NewMarket Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 16th will be given a dividend of $2.50 per share. This represents a $10.00 annualized dividend and a yield of 1.88%. The ex-dividend date is Monday, December 16th. NewMarket’s dividend payout ratio is currently 22.21%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised NewMarket from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 6th.

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.