Martingale Asset Management L P reduced its position in shares of NewMarket Co. (NYSE:NEU) by 1.5% in the 4th quarter, Holdings Channel reports. The firm owned 13,501 shares of the specialty chemicals company’s stock after selling 199 shares during the quarter. Martingale Asset Management L P’s holdings in NewMarket were worth $5,366,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the business. BlackRock Inc. raised its holdings in NewMarket by 3.3% during the 4th quarter. BlackRock Inc. now owns 749,685 shares of the specialty chemicals company’s stock worth $297,919,000 after purchasing an additional 24,128 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of NewMarket by 1.2% in the 4th quarter. Bank of New York Mellon Corp now owns 114,174 shares of the specialty chemicals company’s stock valued at $45,372,000 after acquiring an additional 1,361 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of NewMarket by 0.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 69,171 shares of the specialty chemicals company’s stock valued at $29,449,000 after acquiring an additional 316 shares during the last quarter. Copeland Capital Management LLC increased its stake in shares of NewMarket by 7.6% in the 4th quarter. Copeland Capital Management LLC now owns 52,421 shares of the specialty chemicals company’s stock valued at $20,832,000 after acquiring an additional 3,701 shares during the last quarter. Finally, Old Mutual Global Investors UK Ltd. increased its stake in shares of NewMarket by 695.8% in the 3rd quarter. Old Mutual Global Investors UK Ltd. now owns 50,456 shares of the specialty chemicals company’s stock valued at $21,481,000 after acquiring an additional 44,116 shares during the last quarter. 59.16% of the stock is owned by hedge funds and other institutional investors.
Shares of NewMarket Co. (NEU) opened at $427.22 on Tuesday. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.63 and a quick ratio of 1.42. The company has a market capitalization of $5,057.02, a PE ratio of 22.87 and a beta of 0.81. NewMarket Co. has a 52 week low of $373.59 and a 52 week high of $483.86.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Thursday, March 15th will be paid a $1.75 dividend. The ex-dividend date is Wednesday, March 14th. This represents a $7.00 dividend on an annualized basis and a dividend yield of 1.64%. NewMarket’s dividend payout ratio (DPR) is presently 43.56%.
Separately, TheStreet cut NewMarket from a “b-” rating to a “c” rating in a research note on Wednesday, February 7th.
TRADEMARK VIOLATION NOTICE: This news story was originally published by Ticker Report and is the sole property of of Ticker Report. If you are reading this news story on another site, it was illegally stolen and reposted in violation of U.S. and international trademark & copyright legislation. The legal version of this news story can be accessed at https://www.tickerreport.com/banking-finance/3225809/martingale-asset-management-l-p-sells-199-shares-of-newmarket-co-neu.html.
NewMarket Corporation is a holding company. The Company is the parent company of Afton Chemical Corporation (Afton), Ethyl Corporation (Ethyl), NewMarket Services Corporation (NewMarket Services), and NewMarket Development Corporation (NewMarket Development). The Company operates through petroleum additives segment, which is primarily represented by Afton.
Want to see what other hedge funds are holding NEU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NewMarket Co. (NYSE:NEU).
Receive News & Ratings for NewMarket Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NewMarket and related companies with MarketBeat.com's FREE daily email newsletter.