Allspring Global Investments Holdings LLC grew its stake in NewMarket Corporation (NYSE:NEU - Free Report) by 8.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 185,858 shares of the specialty chemicals company's stock after acquiring an additional 15,155 shares during the quarter. Allspring Global Investments Holdings LLC owned about 1.96% of NewMarket worth $105,300,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. MassMutual Private Wealth & Trust FSB increased its stake in shares of NewMarket by 557.1% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 46 shares of the specialty chemicals company's stock worth $26,000 after acquiring an additional 39 shares during the last quarter. Bessemer Group Inc. grew its holdings in shares of NewMarket by 166.7% during 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. Whipplewood Advisors LLC grew its holdings in shares of NewMarket by 7,700.0% during the 1st quarter. Whipplewood Advisors LLC now owns 78 shares of the specialty chemicals company's stock worth $44,000 after purchasing an additional 77 shares during the period. UMB Bank n.a. grew its holdings in shares of NewMarket by 39.2% during the 1st quarter. UMB Bank n.a. now owns 103 shares of the specialty chemicals company's stock worth $58,000 after purchasing an additional 29 shares during the period. Finally, Kapitalo Investimentos Ltda purchased a new position in shares of NewMarket during the 4th quarter worth $59,000. 61.09% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at NewMarket
In related 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 19.10% of the company's stock.
NewMarket Stock Performance
NYSE NEU opened at $686.49 on Friday. The stock has a market cap of $6.47 billion, a PE ratio of 13.66 and a beta of 0.41. The company has a current ratio of 2.84, a quick ratio of 1.60 and a debt-to-equity ratio of 0.65. NewMarket Corporation has a twelve month low of $480.00 and a twelve month high of $690.73. The stock has a fifty day simple moving average of $637.38 and a 200-day simple moving average of $568.09.
NewMarket (NYSE:NEU - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The specialty chemicals company reported $13.26 earnings per share for the quarter. The business had revenue of $700.95 million during the quarter. NewMarket had a return on equity of 34.45% and a net margin of 17.22%.
NewMarket Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 16th will be issued a dividend of $2.75 per share. This represents a $11.00 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date is Monday, June 16th. NewMarket's dividend payout ratio is presently 21.89%.
NewMarket 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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