NewMarket Co. (NEU) Stake Lessened by Zebra Capital Management LLC

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Zebra Capital Management LLC lowered its stake in shares of NewMarket Co. (NYSE:NEU) by 30.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,024 shares of the specialty chemicals company’s stock after selling 898 shares during the quarter. Zebra Capital Management LLC’s holdings in NewMarket were worth $819,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. State of Alaska Department of Revenue increased its holdings in NewMarket by 32.8% in the 2nd quarter. State of Alaska Department of Revenue now owns 890 shares of the specialty chemicals company’s stock worth $359,000 after buying an additional 220 shares during the period. Victory Capital Management Inc. increased its holdings in NewMarket by 13.3% in the 2nd quarter. Victory Capital Management Inc. now owns 10,643 shares of the specialty chemicals company’s stock worth $4,305,000 after buying an additional 1,250 shares during the period. Schwab Charles Investment Management Inc. increased its holdings in NewMarket by 6.3% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 50,329 shares of the specialty chemicals company’s stock worth $20,217,000 after buying an additional 2,978 shares during the period. Taylor Hoffman Wealth Management increased its holdings in NewMarket by 19.0% in the 2nd quarter. Taylor Hoffman Wealth Management now owns 2,971 shares of the specialty chemicals company’s stock worth $1,202,000 after buying an additional 474 shares during the period. Finally, Amalgamated Bank increased its holdings in NewMarket by 16.3% in the 2nd quarter. Amalgamated Bank now owns 1,932 shares of the specialty chemicals company’s stock worth $781,000 after buying an additional 271 shares during the period. Hedge funds and other institutional investors own 58.34% of the company’s stock.

Shares of NYSE:NEU opened at $397.81 on Friday. NewMarket Co. has a twelve month low of $358.33 and a twelve month high of $437.63. The company has a debt-to-equity ratio of 1.38, a quick ratio of 1.83 and a current ratio of 3.19. The company has a market capitalization of $4.53 billion, a P/E ratio of 22.27 and a beta of 0.71.

NewMarket (NYSE:NEU) last issued its quarterly earnings results on Wednesday, August 8th. The specialty chemicals company reported $4.53 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $5.68 by ($1.15). NewMarket had a return on equity of 34.25% and a net margin of 7.72%. The business had revenue of $599.00 million during the quarter, compared to analyst estimates of $601.00 million. During the same quarter last year, the company posted $5.29 EPS. NewMarket’s quarterly revenue was up 9.5% compared to the same quarter last year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 1st. Investors of record on Monday, September 17th will be issued a $1.75 dividend. The ex-dividend date is Friday, September 14th. This represents a $7.00 annualized dividend and a yield of 1.76%.

Separately, ValuEngine downgraded shares of NewMarket from a “hold” rating to a “sell” rating in a report on Saturday, June 2nd.

NewMarket Profile

NewMarket Corporation, through its subsidiaries, engages in the petroleum additives businesses. It offers lubricant additives for use in various vehicle and industrial applications, such as engine oils, transmission fluids, off-road powertrain and hydraulic systems, gear oils, hydraulic oils, turbine oils, metalworking fluids, and in other applications where metal-to-metal moving parts are utilized; and engine oil, driveline, and industrial additives.

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Institutional Ownership by Quarter for NewMarket (NYSE:NEU)

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