Bank of New York Mellon Corp Sells 1,716 Shares of NewMarket Corporation (NYSE:NEU)

Bank of New York Mellon Corp trimmed its stake in shares of NewMarket Corporation (NYSE:NEU - Free Report) by 1.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 90,159 shares of the specialty chemicals company's stock after selling 1,716 shares during the period. Bank of New York Mellon Corp owned approximately 0.95% of NewMarket worth $51,071,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NEU. Steward Partners Investment Advisory LLC lifted its holdings in shares of NewMarket by 481.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 157 shares of the specialty chemicals company's stock valued at $83,000 after buying an additional 130 shares during the period. Charles Schwab Investment Management Inc. increased its position in NewMarket by 4.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 82,347 shares of the specialty chemicals company's stock valued at $43,508,000 after acquiring an additional 3,601 shares during the last quarter. Atria Investments Inc increased its position in NewMarket by 1.6% during the fourth quarter. Atria Investments Inc now owns 1,302 shares of the specialty chemicals company's stock valued at $688,000 after acquiring an additional 20 shares during the last quarter. Proficio Capital Partners LLC bought a new position in NewMarket in the fourth quarter valued at about $8,933,000. Finally, Raymond James Financial Inc. purchased a new position in NewMarket in the fourth quarter worth about $1,613,000. Institutional investors own 61.09% of the company's stock.

NewMarket Stock Performance

Shares of NewMarket stock traded up $6.77 during trading hours on Wednesday, reaching $730.30. 47,289 shares of the stock traded hands, compared to its average volume of 53,824. The company has a 50 day moving average price of $666.78 and a 200 day moving average price of $584.26. NewMarket Corporation has a one year low of $480.00 and a one year high of $743.52. The company has a quick ratio of 1.60, a current ratio of 2.84 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $6.89 billion, a price-to-earnings ratio of 14.54 and a beta of 0.42.

NewMarket (NYSE:NEU - Get Free Report) last announced its 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 net margin of 17.22% and a return on equity of 34.45%.

NewMarket Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Monday, June 16th were given a dividend of $2.75 per share. The ex-dividend date was Monday, June 16th. This represents a $11.00 annualized dividend and a yield of 1.51%. NewMarket's dividend payout ratio (DPR) is presently 21.89%.

Insiders Place Their Bets

In other NewMarket news, CAO Bruce R. Hazelgrove III sold 311 shares of the company's stock in a transaction dated 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 owned 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 hyperlink. Company insiders own 19.10% of the company's stock.

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.