Cobblestone Asset Management LLC Acquires 1,100 Shares of NewMarket Corporation (NYSE:NEU)

Cobblestone Asset Management LLC raised its holdings in shares of NewMarket Corporation (NYSE:NEU - Free Report) by 110.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,100 shares of the specialty chemicals company's stock after purchasing an additional 1,100 shares during the quarter. Cobblestone Asset Management LLC's holdings in NewMarket were worth $1,190,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of NEU. Vanguard Group Inc. increased its stake in shares of NewMarket by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 731,312 shares of the specialty chemicals company's stock worth $386,389,000 after purchasing an additional 8,951 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of NewMarket by 2.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 170,218 shares of the specialty chemicals company's stock valued at $89,938,000 after acquiring an additional 4,621 shares during the period. Geode Capital Management LLC grew its stake in shares of NewMarket by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 124,387 shares of the specialty chemicals company's stock valued at $65,741,000 after acquiring an additional 1,733 shares in the last quarter. GAMMA Investing LLC grew its position in shares of NewMarket by 54,160.0% during the 1st quarter. GAMMA Investing LLC now owns 103,094 shares of the specialty chemicals company's stock worth $58,398,000 after purchasing an additional 102,904 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position 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 in the last quarter. 61.09% of the stock is currently owned by institutional investors and hedge funds.

NewMarket Stock Performance

NEU opened at $650.29 on Friday. The firm has a market cap of $6.13 billion, a P/E ratio of 12.94 and a beta of 0.41. The business's fifty day moving average is $623.80 and its 200-day moving average is $562.31. NewMarket Corporation has a 52-week low of $480.00 and a 52-week high of $671.16. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.60 and a current ratio of 2.84.

NewMarket (NYSE:NEU - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The specialty chemicals company reported $13.26 EPS for the quarter. NewMarket had a net margin of 17.22% and a return on equity of 34.45%. The company had revenue of $700.95 million during the quarter.

NewMarket Dividend Announcement

The firm also recently announced 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 annualized dividend and a yield of 1.69%. The ex-dividend date is Monday, June 16th. NewMarket's payout ratio is presently 21.89%.

Insiders Place Their Bets

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 value of $199,795.73. Following the completion of the transaction, the chief accounting officer now owns 358 shares of the company's stock, valued at approximately $229,989.94. This represents a 46.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 19.10% of the company's stock.

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.

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