Envestnet Asset Management Inc. lifted its position in shares of NewMarket Corporation (NYSE:NEU - Free Report) by 4.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 38,585 shares of the specialty chemicals company's stock after purchasing an additional 1,584 shares during the period. Envestnet Asset Management Inc. owned about 0.41% of NewMarket worth $21,857,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of NEU. GAMMA Investing LLC lifted its holdings in shares of NewMarket by 54,160.0% in the first quarter. GAMMA Investing LLC now owns 103,094 shares of the specialty chemicals company's stock valued at $58,398,000 after purchasing an additional 102,904 shares in the last quarter. Norges Bank acquired a new position in NewMarket during the fourth quarter worth approximately $41,268,000. American Century Companies Inc. increased its position in NewMarket by 147.2% during the fourth quarter. American Century Companies Inc. now owns 47,717 shares of the specialty chemicals company's stock worth $25,211,000 after purchasing an additional 28,417 shares during the last quarter. Northern Trust Corp increased its position in NewMarket by 23.8% during the fourth quarter. Northern Trust Corp now owns 80,156 shares of the specialty chemicals company's stock worth $42,350,000 after purchasing an additional 15,424 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in shares of NewMarket by 8.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 185,858 shares of the specialty chemicals company's stock worth $105,300,000 after acquiring an additional 15,155 shares in the last quarter. 61.09% of the stock is 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 business's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $642.43, for a total value of $199,795.73. Following the sale, the chief accounting officer owned 358 shares in the company, valued at approximately $229,989.94. The trade was a 46.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 19.10% of the company's stock.
NewMarket Stock Down 1.0%
Shares of NEU stock traded down $7.20 on Friday, hitting $730.37. The stock had a trading volume of 44,810 shares, compared to its average volume of 54,164. The firm has a market capitalization of $6.89 billion, a price-to-earnings ratio of 14.54 and a beta of 0.42. The stock's 50 day moving average is $672.79 and its 200-day moving average is $588.07. 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 Corporation has a 52-week low of $480.00 and a 52-week high of $743.52.
NewMarket (NYSE:NEU - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The specialty chemicals company reported $13.26 earnings per share (EPS) for the quarter. The company had revenue of $700.95 million for the quarter. NewMarket had a net margin of 17.22% and a return on equity of 34.45%.
NewMarket Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Monday, June 16th were given a $2.75 dividend. This represents a $11.00 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date was Monday, June 16th. NewMarket's dividend payout ratio is 21.89%.
NewMarket Profile
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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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