Millennium Management LLC Lowers Holdings in NewMarket Co. (NYSE:NEU)

Millennium Management LLC reduced its stake in shares of NewMarket Co. (NYSE:NEU - Free Report) by 70.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,254 shares of the specialty chemicals company's stock after selling 17,238 shares during the quarter. Millennium Management LLC owned about 0.08% of NewMarket worth $3,833,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in NEU. Barclays PLC increased its stake in NewMarket by 34.5% during the third quarter. Barclays PLC now owns 4,813 shares of the specialty chemicals company's stock worth $2,656,000 after acquiring an additional 1,235 shares during the last quarter. Janney Montgomery Scott LLC bought a new stake in NewMarket during the fourth quarter worth approximately $252,000. Exchange Traded Concepts LLC increased its stake in NewMarket by 2.6% during the fourth quarter. Exchange Traded Concepts LLC now owns 1,398 shares of the specialty chemicals company's stock worth $739,000 after acquiring an additional 35 shares during the last quarter. Blue Trust Inc. increased its stake in NewMarket by 55.3% during the fourth quarter. Blue Trust Inc. now owns 118 shares of the specialty chemicals company's stock worth $65,000 after acquiring an additional 42 shares during the last quarter. Finally, KBC Group NV increased its stake in NewMarket by 82.4% during the fourth quarter. KBC Group NV now owns 321 shares of the specialty chemicals company's stock worth $170,000 after acquiring an additional 145 shares during the last quarter. 61.09% of the stock is owned by institutional investors.

NewMarket Trading Up 1.3%

Shares of NYSE:NEU traded up $8.19 during trading hours on Friday, hitting $644.29. 51,559 shares of the company's stock traded hands, compared to its average volume of 36,587. NewMarket Co. has a 1 year low of $480.00 and a 1 year high of $653.71. The business has a fifty day moving average price of $596.46 and a 200-day moving average price of $552.22. The firm has a market capitalization of $6.08 billion, a P/E ratio of 13.36 and a beta of 0.41. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.75 and a quick ratio of 1.40.

NewMarket (NYSE:NEU - Get Free Report) last announced 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 35.48% and a net margin of 16.59%. The business had revenue of $700.95 million during the quarter.

NewMarket Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders 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 annualized dividend and a dividend yield of 1.71%. NewMarket's dividend payout ratio (DPR) is presently 21.89%.

Analyst Ratings Changes

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

Insider Buying and Selling at NewMarket

In related news, CAO Bruce R. Hazelgrove III sold 311 shares of the business's stock in a transaction that occurred 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 sale, the chief accounting officer now owns 358 shares in the company, valued at approximately $229,989.94. The trade was a 46.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 19.10% of the company's stock.

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.