NewMarket Corporation $NEU Position Lessened by RK Asset Management LLC

Key Points

• RK Asset Management LLC reduced its stake in NewMarket Corporation by 4.4%, bringing its holdings to 10,167 shares valued at approximately $7 million.
• Analyst Wall Street Zen downgraded NewMarket from a "buy" rating to a "hold" rating as of August 30th.
• NewMarket recently announced a quarterly dividend of $2.75 per share, with a yield of 1.3% and a payout ratio of 21.80%.

RK Asset Management LLC lessened its holdings in shares of NewMarket Corporation (NYSE:NEU - Free Report) by 4.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,167 shares of the specialty chemicals company's stock after selling 470 shares during the quarter. NewMarket makes up 6.8% of RK Asset Management LLC's portfolio, making the stock its 4th biggest position. RK Asset Management LLC owned 0.11% of NewMarket worth $7,026,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Parallel Advisors LLC grew its holdings in NewMarket by 2.1% in the second quarter. Parallel Advisors LLC now owns 740 shares of the specialty chemicals company's stock worth $511,000 after purchasing an additional 15 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in shares of NewMarket by 13.1% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 198 shares of the specialty chemicals company's stock worth $112,000 after purchasing an additional 23 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of NewMarket by 12.6% in the 2nd quarter. GAMMA Investing LLC now owns 205 shares of the specialty chemicals company's stock worth $142,000 after buying an additional 23 shares during the last quarter. Federated Hermes Inc. increased its position in NewMarket by 4.0% during the 1st quarter. Federated Hermes Inc. now owns 722 shares of the specialty chemicals company's stock valued at $409,000 after buying an additional 28 shares in the last quarter. Finally, UMB Bank n.a. increased its position in NewMarket by 39.2% during the 1st quarter. UMB Bank n.a. now owns 103 shares of the specialty chemicals company's stock valued at $58,000 after buying an additional 29 shares in the last quarter. Institutional investors own 61.09% of the company's stock.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded NewMarket from a "buy" rating to a "hold" rating in a report on Saturday, August 30th.

NewMarket Price Performance

Shares of NYSE NEU opened at $840.23 on Thursday. The firm has a market cap of $7.90 billion, a P/E ratio of 16.65 and a beta of 0.46. NewMarket Corporation has a twelve month low of $480.00 and a twelve month high of $854.75. The company has a quick ratio of 1.43, a current ratio of 2.66 and a debt-to-equity ratio of 0.52. The company has a 50 day moving average of $786.04 and a 200 day moving average of $683.32.

NewMarket (NYSE:NEU - Get Free Report) last posted its earnings results on Wednesday, July 30th. The specialty chemicals company reported $11.84 EPS for the quarter. NewMarket had a return on equity of 32.25% and a net margin of 17.28%.The business had revenue of $698.51 million during the quarter.

NewMarket Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th were paid a dividend of $2.75 per share. The ex-dividend date was Monday, September 15th. This represents a $11.00 annualized dividend and a yield of 1.3%. NewMarket's dividend payout ratio is currently 21.80%.

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.

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