Balyasny Asset Management L.P. Has $341,000 Stock Position in NewMarket Co. (NYSE:NEU)

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

A number of other hedge funds and other institutional investors have also bought and sold shares of NEU. Barclays PLC increased its stake in NewMarket by 34.5% in the 3rd quarter. Barclays PLC now owns 4,813 shares of the specialty chemicals company's stock valued at $2,656,000 after buying an additional 1,235 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of NewMarket by 35.3% in the 3rd quarter. Franklin Resources Inc. now owns 4,839 shares of the specialty chemicals company's stock valued at $2,550,000 after acquiring an additional 1,263 shares in the last quarter. Park Avenue Securities LLC increased its position in shares of NewMarket by 15.6% in the fourth quarter. Park Avenue Securities LLC now owns 1,269 shares of the specialty chemicals company's stock valued at $670,000 after acquiring an additional 171 shares during the last quarter. Janney Montgomery Scott LLC bought a new stake in NewMarket during the fourth quarter worth about $252,000. Finally, Exchange Traded Concepts LLC raised its holdings in NewMarket by 2.6% during the fourth quarter. Exchange Traded Concepts LLC now owns 1,398 shares of the specialty chemicals company's stock worth $739,000 after acquiring an additional 35 shares in the last quarter. Institutional investors and hedge funds own 61.09% of the company's stock.

NewMarket Stock Performance

Shares of NEU traded down $0.06 during midday trading on Thursday, reaching $644.46. The stock had a trading volume of 3,074 shares, compared to its average volume of 36,372. The firm has a market cap of $6.08 billion, a PE ratio of 13.37 and a beta of 0.41. The firm has a 50 day simple moving average of $582.19 and a 200-day simple moving average of $547.86. NewMarket Co. has a one year low of $480.00 and a one year high of $653.71. The company has a current ratio of 2.75, a quick ratio of 1.40 and a debt-to-equity ratio of 0.66.

NewMarket (NYSE:NEU - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The specialty chemicals company reported $13.26 EPS for the quarter. The business 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 Dividend Announcement

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

Analyst Upgrades and Downgrades

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

Insider Activity at NewMarket

In related news, CAO Bruce R. Hazelgrove III sold 311 shares of NewMarket stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $642.43, for a total transaction of $199,795.73. Following the completion of the sale, the chief accounting officer now owns 358 shares of the company's stock, valued at approximately $229,989.94. The trade was a 46.49% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 19.10% of the stock is owned by company insiders.

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.