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Cobblestone Asset Management LLC Has $1.19 Million Position in NewMarket Corporation (NYSE:NEU)

NewMarket logo with Basic Materials background

Cobblestone Asset Management LLC grew its position in NewMarket Corporation (NYSE:NEU - Free Report) by 110.0% during the 1st quarter, according to the company in its most recent 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 period. Cobblestone Asset Management LLC's holdings in NewMarket were worth $1,190,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NEU. Farther Finance Advisors LLC boosted its holdings in NewMarket by 34.1% in the first quarter. Farther Finance Advisors LLC now owns 444 shares of the specialty chemicals company's stock worth $252,000 after purchasing an additional 113 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its holdings in shares of NewMarket by 5.6% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 1,042 shares of the specialty chemicals company's stock valued at $550,000 after acquiring an additional 55 shares during the last quarter. Principal Securities Inc. raised its stake 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 valued at $189,000 after acquiring an additional 35 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of NewMarket by 20.6% in the 4th quarter. Bank of New York Mellon Corp now owns 91,875 shares of the specialty chemicals company's stock valued at $48,542,000 after acquiring an additional 15,694 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in NewMarket by 33.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 495 shares of the specialty chemicals company's stock worth $262,000 after purchasing an additional 123 shares during the last quarter. 61.09% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at NewMarket

In other news, CAO Bruce R. Hazelgrove III sold 311 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $642.43, for a total transaction of $199,795.73. Following the completion of the transaction, the chief accounting officer now directly owns 358 shares in the company, valued at $229,989.94. The trade was a 46.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 19.10% of the company's stock.

NewMarket Stock Performance

NEU stock traded up $10.01 during midday trading on Tuesday, hitting $685.95. 220,592 shares of the company traded hands, compared to its average volume of 47,833. NewMarket Corporation has a twelve month low of $480.00 and a twelve month high of $690.70. The stock has a market capitalization of $6.47 billion, a price-to-earnings ratio of 13.65 and a beta of 0.41. 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 business has a 50 day simple moving average of $630.28 and a 200-day simple moving average of $565.14.

NewMarket (NYSE:NEU - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The specialty chemicals company reported $13.26 earnings per share for the quarter. NewMarket had a net margin of 17.22% and a return on equity of 34.45%. 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. Shareholders of record on Monday, June 16th will be issued a dividend of $2.75 per share. This represents a $11.00 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date is Monday, June 16th. NewMarket's dividend payout ratio (DPR) 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.

See Also

Institutional Ownership by Quarter for NewMarket (NYSE:NEU)

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