Envestnet Portfolio Solutions Inc. Trims Holdings in NewMarket Corporation (NYSE:NEU)

Envestnet Portfolio Solutions Inc. decreased its position in NewMarket Corporation (NYSE:NEU - Free Report) by 38.8% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 638 shares of the specialty chemicals company's stock after selling 404 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in NewMarket were worth $361,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in NewMarket by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 731,312 shares of the specialty chemicals company's stock valued at $386,389,000 after buying an additional 8,951 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of NewMarket by 2.8% during 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 last quarter. Geode Capital Management LLC boosted its holdings in shares of NewMarket by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 124,387 shares of the specialty chemicals company's stock worth $65,741,000 after purchasing an additional 1,733 shares during the period. GAMMA Investing LLC grew its stake 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 worth $58,398,000 after purchasing an additional 102,904 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in NewMarket by 20.6% during 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 purchasing an additional 15,694 shares during the period. 61.09% of the stock is owned by hedge funds and other institutional investors.

NewMarket Trading Up 1.4%

NEU traded up $9.66 during midday trading on Wednesday, reaching $715.25. 118,039 shares of the company's stock traded hands, compared to its average volume of 51,427. NewMarket Corporation has a 52 week low of $480.00 and a 52 week high of $719.25. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.84 and a quick ratio of 1.60. The firm has a fifty day moving average of $642.67 and a two-hundred day moving average of $570.28. The stock has a market capitalization of $6.74 billion, a price-to-earnings ratio of 14.26 and a beta of 0.42.

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

NewMarket Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Monday, June 16th were given a $2.75 dividend. The ex-dividend date was Monday, June 16th. This represents a $11.00 annualized dividend and a dividend yield of 1.54%. NewMarket's dividend payout ratio is 21.89%.

Insider Activity at NewMarket

In related 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 directly owned 358 shares of the company's stock, valued at $229,989.94. This represents a 46.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate 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.