Jane Street Group LLC reduced its stake in NewMarket Co. (NYSE:NEU - Free Report) by 92.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 929 shares of the specialty chemicals company's stock after selling 11,491 shares during the period. Jane Street Group LLC's holdings in NewMarket were worth $491,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently made changes to their positions in the stock. Bessemer Group Inc. boosted its position in NewMarket by 166.7% in the fourth quarter. Bessemer Group Inc. now owns 48 shares of the specialty chemicals company's stock valued at $25,000 after buying an additional 30 shares in the last quarter. Centricity Wealth Management LLC bought a new position in shares of NewMarket in the 4th quarter valued at $56,000. Kapitalo Investimentos Ltda acquired a new stake in shares of NewMarket during the 4th quarter valued at $59,000. Blue Trust Inc. grew its position in NewMarket by 55.3% during the 4th 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, Kohmann Bosshard Financial Services LLC acquired a new position in NewMarket in the 4th quarter worth about $74,000. 61.09% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Separately, Wall Street Zen lowered NewMarket from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, February 19th.
Get Our Latest Analysis on NewMarket
NewMarket Trading Up 1.3%
NYSE NEU traded up $8.19 during trading hours on Friday, reaching $644.29. The company's stock had a trading volume of 51,559 shares, compared to its average volume of 36,679. The firm has a fifty day simple moving average of $596.46 and a 200-day simple moving average of $552.22. The stock has a market cap of $6.08 billion, a P/E ratio of 13.36 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 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 issued its quarterly earnings data on Wednesday, April 23rd. The specialty chemicals company reported $13.26 earnings per share (EPS) for the quarter. The business had revenue of $700.95 million during the quarter. NewMarket had a net margin of 16.59% and a return on equity of 35.48%.
NewMarket Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 16th will be given a dividend of $2.75 per share. 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 dividend payout ratio (DPR) is 21.89%.
Insider Transactions at NewMarket
In other news, CAO Bruce R. Hazelgrove III sold 311 shares of the firm's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $642.43, for a total transaction of $199,795.73. Following the completion of the transaction, the chief accounting officer now directly owns 358 shares in the company, valued at $229,989.94. This trade represents a 46.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 19.10% of the stock is owned by corporate insiders.
NewMarket Company Profile
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Free Report)
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.
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