First Trust Advisors LP Sells 13,914 Shares of NewMarket Corporation $NEU

Key Points

• First Trust Advisors LP trimmed its stake in NewMarket by 15.3% in Q3, selling 13,914 shares and leaving 77,148 shares (about 0.82% of the company) valued at $63,895,000 per its SEC filing.
• Q results and dividend: NewMarket reported $8.65 EPS on $635.4M revenue with a 15.37% net margin and 25.38% ROE, and announced a $3.00 quarterly dividend ($12.00 annual, 1.9% yield; ex-dividend Mar 16, payable Apr 1).
• Insider and analyst activity: Director Ting Xu bought 400 shares recently, Weiss Ratings upgraded NEU to a "buy," institutional ownership is 61.09% and insiders own 19.10% of the stock.

First Trust Advisors LP decreased its holdings in shares of NewMarket Corporation (NYSE:NEU - Free Report) by 15.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 77,148 shares of the specialty chemicals company's stock after selling 13,914 shares during the quarter. First Trust Advisors LP owned about 0.82% of NewMarket worth $63,895,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the business. Winnow Wealth LLC bought a new stake in shares of NewMarket in the 3rd quarter worth about $29,000. Root Financial Partners LLC bought a new position in shares of NewMarket in the 3rd quarter valued at about $30,000. Smartleaf Asset Management LLC lifted its holdings in shares of NewMarket by 125.0% in the 3rd quarter. Smartleaf Asset Management LLC now owns 45 shares of the specialty chemicals company's stock valued at $37,000 after acquiring an additional 25 shares during the last quarter. Quent Capital LLC purchased a new position in NewMarket in the third quarter worth about $43,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in NewMarket by 100.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78 shares of the specialty chemicals company's stock worth $44,000 after acquiring an additional 39 shares in the last quarter. Institutional investors own 61.09% of the company's stock.

NewMarket Trading Up 0.2%

NEU stock opened at $622.18 on Wednesday. The company has a quick ratio of 1.33, a current ratio of 2.53 and a debt-to-equity ratio of 0.50. NewMarket Corporation has a twelve month low of $510.07 and a twelve month high of $875.97. The stock has a market capitalization of $5.85 billion, a price-to-earnings ratio of 14.01 and a beta of 0.50. The firm's fifty day simple moving average is $658.75 and its two-hundred day simple moving average is $738.09.

NewMarket (NYSE:NEU - Get Free Report) last released its earnings results on Wednesday, February 11th. The specialty chemicals company reported $8.65 earnings per share (EPS) for the quarter. NewMarket had a net margin of 15.37% and a return on equity of 25.38%. The firm had revenue of $635.40 million during the quarter.

NewMarket Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 16th will be given a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Monday, March 16th. NewMarket's dividend payout ratio is 27.01%.

Insider Transactions at NewMarket

In other news, Director Ting Xu acquired 400 shares of the firm's stock in a transaction on Tuesday, February 24th. The stock was acquired at an average price of $619.21 per share, with a total value of $247,684.00. Following the completion of the purchase, the director directly owned 929 shares in the company, valued at approximately $575,246.09. This trade represents a 75.61% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 19.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded NewMarket from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, March 2nd. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Buy".

NewMarket Company Profile

NewMarket Corporation is a specialty chemicals and lubricants company headquartered in Richmond, Virginia. Through its Valvoline business, the company markets a broad portfolio of automotive aftermarket products, including engine oils, transmission fluids, greases and vehicle care solutions. Valvoline products are distributed through retail and commercial channels as well as a network of quick-lube service centers that provide oil changes, preventive maintenance and related services.

In its chemical additives segment, NewMarket develops, manufactures and sells performance additives for fuels, lubricants and industrial fluids.

Want to see what other hedge funds are holding NEU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NewMarket Corporation (NYSE:NEU - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.