GAMMA Investing LLC Acquires 102,904 Shares of NewMarket Co. (NYSE:NEU)

GAMMA Investing LLC lifted its stake in NewMarket Co. (NYSE:NEU - Free Report) by 54,160.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 103,094 shares of the specialty chemicals company's stock after buying an additional 102,904 shares during the period. GAMMA Investing LLC owned approximately 1.09% of NewMarket worth $58,398,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB raised its holdings in NewMarket by 557.1% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 46 shares of the specialty chemicals company's stock valued at $26,000 after acquiring an additional 39 shares in the last quarter. California State Teachers Retirement System increased its position in shares of NewMarket by 11.1% in the fourth quarter. California State Teachers Retirement System now owns 7,524 shares of the specialty chemicals company's stock worth $3,975,000 after purchasing an additional 749 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in NewMarket by 33.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 495 shares of the specialty chemicals company's stock valued at $262,000 after purchasing an additional 123 shares in the last quarter. Great Valley Advisor Group Inc. lifted its position in NewMarket by 11.4% during the fourth quarter. Great Valley Advisor Group Inc. now owns 8,318 shares of the specialty chemicals company's stock worth $4,395,000 after purchasing an additional 853 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in NewMarket by 12.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 20,273 shares of the specialty chemicals company's stock worth $10,711,000 after buying an additional 2,165 shares in the last quarter. Institutional investors and hedge funds own 61.09% of the company's stock.

Insider Activity at NewMarket

In other news, CAO Bruce R. Hazelgrove III sold 311 shares of the stock in a transaction on Monday, May 12th. The stock was 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 directly owns 358 shares in the company, valued at approximately $229,989.94. This represents a 46.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 19.10% of the stock is currently owned by insiders.

NewMarket Price Performance

NYSE NEU traded up $5.90 on Friday, hitting $644.93. 526,977 shares of the company's stock were exchanged, compared to its average volume of 38,822. The stock has a 50-day moving average of $604.44 and a 200-day moving average of $555.50. The stock has a market cap of $6.08 billion, a price-to-earnings ratio of 13.38 and a beta of 0.41. NewMarket Co. has a 52 week low of $480.00 and a 52 week high of $653.71. The company has a current ratio of 2.75, a quick ratio of 1.40 and a debt-to-equity ratio of 0.66.

NewMarket (NYSE:NEU - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The specialty chemicals company reported $13.26 EPS for the quarter. The company had revenue of $700.95 million during the quarter. NewMarket had a return on equity of 35.48% and a net margin of 16.59%.

NewMarket Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 16th will be paid a $2.75 dividend. The ex-dividend date is Monday, June 16th. This represents a $11.00 dividend on an annualized basis and a dividend yield of 1.71%. NewMarket's payout ratio is currently 21.89%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut shares of NewMarket from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, February 19th.

NewMarket Company 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.