Millennium Management LLC Sells 17,238 Shares of NewMarket Co. (NYSE:NEU)

Millennium Management LLC trimmed its holdings in shares of NewMarket Co. (NYSE:NEU - Free Report) by 70.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,254 shares of the specialty chemicals company's stock after selling 17,238 shares during the quarter. Millennium Management LLC owned 0.08% of NewMarket worth $3,833,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in NEU. Bessemer Group Inc. increased its stake in NewMarket by 166.7% during the fourth quarter. Bessemer Group Inc. now owns 48 shares of the specialty chemicals company's stock worth $25,000 after acquiring an additional 30 shares during the last quarter. Centricity Wealth Management LLC bought a new position in shares of NewMarket during the 4th quarter valued at approximately $56,000. Kapitalo Investimentos Ltda purchased a new stake in NewMarket during the 4th quarter valued at $59,000. Blue Trust Inc. lifted its position in NewMarket by 55.3% in the fourth quarter. Blue Trust Inc. now owns 118 shares of the specialty chemicals company's stock worth $65,000 after buying an additional 42 shares during the last quarter. Finally, Kohmann Bosshard Financial Services LLC purchased a new stake in shares of NewMarket in the fourth quarter valued at $74,000. Institutional investors own 61.09% of the company's stock.

Insider Activity at NewMarket

In other NewMarket news, CAO Bruce R. Hazelgrove III sold 311 shares of the company's 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 sale, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 19.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

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

NewMarket Trading Down 0.5%

Shares of NEU traded down $3.23 during mid-day trading on Tuesday, reaching $640.27. 31,002 shares of the company's stock traded hands, compared to its average volume of 36,543. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.75 and a quick ratio of 1.40. The stock's 50-day moving average is $599.88 and its two-hundred day moving average is $553.52. NewMarket Co. has a 12 month low of $480.00 and a 12 month high of $653.71. The stock has a market cap of $6.04 billion, a P/E ratio of 13.28 and a beta of 0.41.

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

NewMarket Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 16th will be paid a $2.75 dividend. This represents a $11.00 annualized dividend and a yield of 1.72%. The ex-dividend date of this dividend is Monday, June 16th. NewMarket's dividend payout ratio is presently 21.89%.

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.