Balyasny Asset Management L.P. Decreases Holdings in NewMarket Co. (NYSE:NEU)

Balyasny Asset Management L.P. cut its holdings in NewMarket Co. (NYSE:NEU - Free Report) by 85.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 645 shares of the specialty chemicals company's stock after selling 3,883 shares during the quarter. Balyasny Asset Management L.P.'s holdings in NewMarket were worth $341,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of NEU. Assetmark Inc. grew its stake in shares of NewMarket by 0.6% in the 4th quarter. Assetmark Inc. now owns 3,118 shares of the specialty chemicals company's stock valued at $1,647,000 after buying an additional 20 shares during the period. Atria Investments Inc grew its holdings in NewMarket by 1.6% during the fourth quarter. Atria Investments Inc now owns 1,302 shares of the specialty chemicals company's stock worth $688,000 after buying an additional 20 shares in the last quarter. Oregon Public Employees Retirement Fund raised its position in NewMarket by 1.7% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,561 shares of the specialty chemicals company's stock valued at $825,000 after buying an additional 26 shares during the last quarter. Parallel Advisors LLC lifted its stake in NewMarket by 4.3% during the 4th quarter. Parallel Advisors LLC now owns 735 shares of the specialty chemicals company's stock valued at $388,000 after acquiring an additional 30 shares in the last quarter. Finally, Bessemer Group Inc. boosted its holdings in NewMarket by 166.7% during the 4th quarter. Bessemer Group Inc. now owns 48 shares of the specialty chemicals company's stock worth $25,000 after acquiring an additional 30 shares during the last quarter. 61.09% of the stock is currently owned by institutional investors.

NewMarket Stock Performance

Shares of NYSE NEU traded down $7.82 during mid-day trading on Wednesday, reaching $642.65. 27,565 shares of the company's stock were exchanged, compared to its average volume of 44,653. The firm has a 50-day moving average price of $577.09 and a two-hundred day moving average price of $546.46. 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 firm has a market capitalization of $6.06 billion, a price-to-earnings ratio of 13.32 and a beta of 0.41. NewMarket Co. has a 52 week low of $480.00 and a 52 week 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 business had revenue of $700.95 million during the quarter. NewMarket had a net margin of 16.59% and a return on equity of 35.48%.

NewMarket Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 16th will be given a dividend of $2.75 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $11.00 dividend on an annualized basis and a dividend yield of 1.71%. NewMarket's dividend payout ratio (DPR) is presently 21.89%.

Insider Transactions at NewMarket

In related news, CAO Bruce R. Hazelgrove III sold 311 shares of the company's stock in a transaction on 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 19.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of NewMarket from a "strong-buy" rating to a "buy" rating in a report on Wednesday, February 19th.

NewMarket 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.