Allspring Global Investments Holdings LLC Purchases 15,155 Shares of NewMarket Corporation (NYSE:NEU)

Allspring Global Investments Holdings LLC lifted its stake in NewMarket Corporation (NYSE:NEU - Free Report) by 8.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 185,858 shares of the specialty chemicals company's stock after purchasing 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 filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bessemer Group Inc. lifted its holdings in shares of NewMarket by 166.7% during the fourth quarter. Bessemer Group Inc. now owns 48 shares of the specialty chemicals company's stock valued at $25,000 after purchasing an additional 30 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in NewMarket by 557.1% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 46 shares of the specialty chemicals company's stock valued at $26,000 after acquiring an additional 39 shares during the period. Whipplewood Advisors LLC boosted 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 valued at $44,000 after acquiring an additional 77 shares during the last quarter. UMB Bank n.a. grew its stake in shares of NewMarket by 39.2% in the first quarter. UMB Bank n.a. now owns 103 shares of the specialty chemicals company's stock worth $58,000 after acquiring an additional 29 shares during the period. Finally, Kapitalo Investimentos Ltda purchased a new position in shares of NewMarket during the fourth quarter valued at approximately $59,000. Hedge funds and other institutional investors own 61.09% of the company's stock.

Insider Buying and Selling at NewMarket

In other 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 directly owned 358 shares in the company, valued at $229,989.94. This represents a 46.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 19.10% of the stock is owned by corporate insiders.

NewMarket Stock Performance

NYSE:NEU traded up $14.41 during trading hours on Wednesday, reaching $720.00. The company had a trading volume of 140,847 shares, compared to its average volume of 51,544. The firm has a market cap of $6.79 billion, a price-to-earnings ratio of 14.33 and a beta of 0.42. The company has a current ratio of 2.84, a quick ratio of 1.60 and a debt-to-equity ratio of 0.65. The firm's 50 day moving average price is $642.67 and its 200-day moving average price is $570.28. NewMarket Corporation has a 52 week low of $480.00 and a 52 week high of $720.40.

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. The business had revenue of $700.95 million for the quarter. NewMarket had a return on equity of 34.45% and a net margin of 17.22%.

NewMarket Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Monday, June 16th were paid a dividend of $2.75 per share. This represents a $11.00 annualized dividend and a dividend yield of 1.53%. The ex-dividend date of this dividend was Monday, June 16th. NewMarket's dividend payout ratio is presently 21.89%.

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.