Ensign Peak Advisors Inc lowered its position in shares of NewMarket Co. (NYSE:NEU - Free Report) by 45.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,902 shares of the specialty chemicals company's stock after selling 2,427 shares during the quarter. Ensign Peak Advisors Inc's holdings in NewMarket were worth $1,533,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in NEU. Norges Bank acquired a new position in shares of NewMarket in the fourth quarter worth $41,268,000. American Century Companies Inc. increased its position in NewMarket by 147.2% during the 4th quarter. American Century Companies Inc. now owns 47,717 shares of the specialty chemicals company's stock worth $25,211,000 after purchasing an additional 28,417 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in NewMarket during the fourth quarter valued at approximately $8,933,000. Bank of New York Mellon Corp grew its stake in 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 worth $48,542,000 after buying an additional 15,694 shares during the period. Finally, Northern Trust Corp increased its position in shares of NewMarket by 23.8% in the fourth quarter. Northern Trust Corp now owns 80,156 shares of the specialty chemicals company's stock worth $42,350,000 after acquiring an additional 15,424 shares in the last quarter. Institutional investors and hedge funds own 61.09% of the company's stock.
Analysts Set New Price Targets
Separately, StockNews.com lowered NewMarket from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, February 19th.
View Our Latest Research Report on NewMarket
NewMarket Stock Down 1.5%
NEU stock traded down $9.62 during midday trading on Wednesday, hitting $640.85. 2,829 shares of the company's stock were exchanged, compared to its average volume of 44,410. The firm has a 50 day moving average price of $577.09 and a 200-day moving average price of $546.46. NewMarket Co. has a 12-month low of $480.00 and a 12-month high of $653.71. The stock has a market capitalization of $6.05 billion, a price-to-earnings ratio of 13.29 and a beta of 0.41. 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. NewMarket had a return on equity of 35.48% and a net margin of 16.59%. The business had revenue of $700.95 million during the quarter.
NewMarket Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 16th will be given a dividend of $2.75 per share. This represents a $11.00 annualized dividend and a dividend yield of 1.72%. The ex-dividend date is Monday, June 16th. NewMarket's dividend payout ratio is currently 21.89%.
Insiders Place Their Bets
In other news, CAO Bruce R. Hazelgrove III sold 311 shares of the company's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $642.43, for a total value of $199,795.73. Following the completion of the sale, the chief accounting officer now owns 358 shares in the company, valued at $229,989.94. This represents a 46.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 19.10% of the stock is currently owned by corporate insiders.
About NewMarket
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Free Report)
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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