Quantinno Capital Management LP boosted its position in shares of NewMarket Co. (NYSE:NEU – Free Report) by 14.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,922 shares of the specialty chemicals company’s stock after buying an additional 247 shares during the quarter. Quantinno Capital Management LP’s holdings in NewMarket were worth $1,016,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of NewMarket during the fourth quarter valued at $41,268,000. American Century Companies Inc. boosted its stake in shares of NewMarket by 147.2% during the fourth quarter. American Century Companies Inc. now owns 47,717 shares of the specialty chemicals company’s stock valued at $25,211,000 after purchasing an additional 28,417 shares during the period. Proficio Capital Partners LLC purchased a new stake in shares of NewMarket during the fourth quarter valued at $8,933,000. Bank of New York Mellon Corp boosted its stake in shares of NewMarket by 20.6% during the fourth quarter. Bank of New York Mellon Corp now owns 91,875 shares of the specialty chemicals company’s stock valued at $48,542,000 after purchasing an additional 15,694 shares during the period. Finally, Northern Trust Corp boosted its stake in shares of NewMarket by 23.8% during the fourth quarter. Northern Trust Corp now owns 80,156 shares of the specialty chemicals company’s stock valued at $42,350,000 after purchasing an additional 15,424 shares during the period. 61.09% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Separately, Wall Street Zen lowered shares of NewMarket from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 19th.
NewMarket Stock Performance
NEU stock opened at $639.67 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.75 and a quick ratio of 1.40. The business has a 50-day moving average price of $584.44 and a 200 day moving average price of $548.69. The company has a market capitalization of $6.03 billion, a P/E ratio of 13.27 and a beta of 0.41. NewMarket Co. has a 1-year low of $480.00 and a 1-year high of $653.71.
NewMarket (NYSE:NEU – Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The specialty chemicals company reported $13.26 earnings per share for the quarter. The firm had revenue of $700.95 million during the quarter. NewMarket had a return on equity of 35.48% and a net margin of 16.59%.
NewMarket Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 16th will be issued a $2.75 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $11.00 annualized dividend and a dividend yield of 1.72%. NewMarket’s payout ratio is currently 21.89%.
Insider Activity at NewMarket
In other NewMarket news, CAO Bruce R. Hazelgrove III sold 311 shares of the business’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $642.43, for a total value of $199,795.73. Following the completion of the transaction, the chief accounting officer now directly owns 358 shares in the company, valued at approximately $229,989.94. The trade was a 46.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 19.10% of the stock is currently owned by corporate insiders.
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.
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