Cubist Systematic Strategies LLC Takes Position in NewMarket Co. (NYSE:NEU)

Cubist Systematic Strategies LLC purchased a new position in NewMarket Co. (NYSE:NEU - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 401 shares of the specialty chemicals company's stock, valued at approximately $212,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bessemer Group Inc. increased its holdings in shares of NewMarket by 166.7% in the fourth quarter. Bessemer Group Inc. now owns 48 shares of the specialty chemicals company's stock worth $25,000 after purchasing an additional 30 shares during the last quarter. Centricity Wealth Management LLC purchased a new stake in shares of NewMarket in the fourth quarter valued at approximately $56,000. Kapitalo Investimentos Ltda purchased a new stake in shares of NewMarket in the fourth quarter valued at approximately $59,000. Blue Trust Inc. raised its stake in NewMarket by 55.3% in the fourth quarter. Blue Trust Inc. now owns 118 shares of the specialty chemicals company's stock worth $65,000 after buying an additional 42 shares in the last quarter. Finally, Kohmann Bosshard Financial Services LLC acquired a new position in shares of NewMarket during the fourth quarter worth $74,000. 61.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at NewMarket

In other news, CAO Bruce R. Hazelgrove III sold 311 shares of the 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 transaction, the chief accounting officer now owns 358 shares of the company's stock, valued at approximately $229,989.94. This trade represents a 46.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 19.10% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded NewMarket from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, February 19th.

NewMarket Trading Down 1.1%

NEU stock traded down $7.39 during midday trading on Friday, hitting $639.67. 36,771 shares of the company's stock were exchanged, compared to its average volume of 36,561. NewMarket Co. has a 1-year low of $480.00 and a 1-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. The business has a 50-day simple moving average of $584.44 and a two-hundred day simple moving average of $548.69. The stock has a market capitalization of $6.03 billion, a PE ratio of 13.27 and a beta of 0.41.

NewMarket (NYSE:NEU - Get Free Report) last posted its 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 for the quarter.

NewMarket Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 16th will be paid a dividend of $2.75 per share. This represents a $11.00 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date is Monday, June 16th. NewMarket's dividend payout ratio is presently 21.89%.

NewMarket Company 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.