Man Group plc Sells 3,008 Shares of NewMarket Co. (NYSE:NEU)

Man Group plc cut its holdings in shares of NewMarket Co. (NYSE:NEU - Free Report) by 51.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,872 shares of the specialty chemicals company's stock after selling 3,008 shares during the period. Man Group plc's holdings in NewMarket were worth $1,517,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Bessemer Group Inc. lifted its position in shares of NewMarket by 166.7% in the 4th quarter. Bessemer Group Inc. now owns 48 shares of the specialty chemicals company's stock worth $25,000 after purchasing an additional 30 shares during the period. Centricity Wealth Management LLC acquired a new position in shares of NewMarket in the 4th quarter worth approximately $56,000. Kapitalo Investimentos Ltda acquired a new position in shares of NewMarket in the 4th quarter worth approximately $59,000. Blue Trust Inc. lifted its position in shares of NewMarket by 55.3% in the 4th quarter. Blue Trust Inc. now owns 118 shares of the specialty chemicals company's stock worth $65,000 after purchasing an additional 42 shares during the period. Finally, Kohmann Bosshard Financial Services LLC acquired a new position in shares of NewMarket in the 4th quarter worth approximately $74,000. 61.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

NewMarket Trading Up 0.3%

Shares of NYSE NEU traded up $1.96 during midday trading on Thursday, reaching $634.56. The stock had a trading volume of 3,252 shares, compared to its average volume of 44,113. The firm has a market cap of $5.99 billion, a price-to-earnings ratio of 13.16 and a beta of 0.41. NewMarket Co. has a twelve month low of $480.00 and a twelve month high of $653.71. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.40 and a current ratio of 2.75. The company's 50 day moving average price is $592.71 and its 200 day moving average price is $551.04.

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

NewMarket Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 16th will be given a dividend of $2.75 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $11.00 dividend on an annualized basis and a dividend yield of 1.73%. NewMarket's payout ratio is presently 21.89%.

Insider Activity at NewMarket

In related 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 transaction of $199,795.73. Following the transaction, the chief accounting officer now owns 358 shares in the company, valued at $229,989.94. The trade was a 46.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 19.10% of the stock is owned by corporate insiders.

About NewMarket

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.