Cubist Systematic Strategies LLC bought a new stake in shares of NewMarket Co. (NYSE:NEU - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 401 shares of the specialty chemicals company's stock, valued at approximately $212,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of NEU. Barclays PLC lifted its stake in NewMarket by 34.5% during the third quarter. Barclays PLC now owns 4,813 shares of the specialty chemicals company's stock worth $2,656,000 after purchasing an additional 1,235 shares during the last quarter. Janney Montgomery Scott LLC purchased a new stake in shares of NewMarket during the fourth quarter worth about $252,000. Empowered Funds LLC boosted its holdings in shares of NewMarket by 61.3% during the fourth quarter. Empowered Funds LLC now owns 1,490 shares of the specialty chemicals company's stock worth $787,000 after purchasing an additional 566 shares during the period. Envestnet Portfolio Solutions Inc. lifted its holdings in NewMarket by 5.6% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 1,042 shares of the specialty chemicals company's stock worth $550,000 after buying an additional 55 shares during the period. Finally, Principal Securities Inc. raised its position in shares of NewMarket by 10.9% in the 4th quarter. Principal Securities Inc. now owns 357 shares of the specialty chemicals company's stock worth $189,000 after acquiring an additional 35 shares in the last quarter. Institutional investors own 61.09% of the company's stock.
Wall Street Analysts Forecast Growth
Separately, StockNews.com downgraded shares of NewMarket from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, February 19th.
Get Our Latest Analysis on NEU
Insiders Place Their Bets
In other news, CAO Bruce R. Hazelgrove III sold 311 shares of the business's 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 $229,989.94. The trade was a 46.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 19.10% of the company's stock.
NewMarket Price Performance
Shares of NEU traded down $0.72 during trading hours on Tuesday, reaching $650.09. 25,152 shares of the stock traded hands, compared to its average volume of 36,406. 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 Co. has a 52-week low of $480.00 and a 52-week high of $658.08. The company's 50-day moving average price is $577.09 and its two-hundred day moving average price is $546.46. The company has a market cap of $6.13 billion, a P/E ratio of 13.48 and a beta of 0.41.
NewMarket (NYSE:NEU - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The specialty chemicals company reported $13.26 earnings per share (EPS) for the quarter. The firm had revenue of $700.95 million for the quarter. NewMarket had a net margin of 16.59% and a return on equity of 35.48%.
NewMarket Dividend Announcement
The company also recently announced 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. The ex-dividend date is Monday, June 16th. This represents a $11.00 dividend on an annualized basis and a yield of 1.69%. NewMarket's payout ratio is 21.89%.
About NewMarket
(
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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