Nuveen Asset Management LLC Lowers Holdings in NewMarket Co. (NYSE:NEU)

Nuveen Asset Management LLC lessened its position in NewMarket Co. (NYSE:NEU - Free Report) by 15.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,476 shares of the specialty chemicals company's stock after selling 2,613 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.15% of NewMarket worth $7,648,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Barclays PLC boosted its stake in shares of NewMarket by 34.5% in the 3rd quarter. Barclays PLC now owns 4,813 shares of the specialty chemicals company's stock valued at $2,656,000 after buying an additional 1,235 shares during the period. Janney Montgomery Scott LLC purchased a new position in NewMarket in the fourth quarter worth approximately $252,000. Empowered Funds LLC grew its holdings in NewMarket by 61.3% during the 4th quarter. Empowered Funds LLC now owns 1,490 shares of the specialty chemicals company's stock worth $787,000 after acquiring an additional 566 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its position in shares of NewMarket by 5.6% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 1,042 shares of the specialty chemicals company's stock valued at $550,000 after purchasing an additional 55 shares during the last quarter. Finally, Principal Securities Inc. raised its holdings in shares of NewMarket by 10.9% in the 4th quarter. Principal Securities Inc. now owns 357 shares of the specialty chemicals company's stock valued at $189,000 after purchasing an additional 35 shares in the last quarter. Institutional investors and hedge funds own 61.09% of the company's stock.

Insider Activity

In other news, CAO Bruce R. Hazelgrove III sold 311 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $642.43, for a total transaction of $199,795.73. Following the completion of the sale, the chief accounting officer now owns 358 shares in the company, valued at approximately $229,989.94. This represents a 46.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 19.10% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered NewMarket from a "strong-buy" rating to a "buy" rating in a report on Wednesday, February 19th.

NewMarket Stock Down 0.5%

Shares of NewMarket stock traded down $3.23 during trading hours on Tuesday, hitting $640.27. The company had a trading volume of 31,002 shares, compared to its average volume of 36,543. The company's 50-day moving average is $599.88 and its two-hundred day moving average is $553.52. NewMarket Co. has a twelve month low of $480.00 and a twelve month 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. The company 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 issued its quarterly earnings data on Wednesday, April 23rd. The specialty chemicals company reported $13.26 earnings per share (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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 16th will be paid a $2.75 dividend. This represents a $11.00 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date is Monday, June 16th. NewMarket's dividend payout ratio is currently 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.