NewMarket Corporation (NYSE:NEU) Shares Sold by Ontario Teachers Pension Plan Board

Key Points

• The Ontario Teachers Pension Plan Board reduced its stake in NewMarket Corporation by 12.6%, selling 802 shares and owning a total of 5,557 shares valued at approximately $3.15 million.
• Institutional investors collectively own 61.09% of NewMarket's stock, with notable moves from firms like Vanguard and LSV Asset Management during the first quarter.
• NewMarket recently reported earnings of $11.84 per share for the last quarter, reflecting a net margin of 17.28% and revenue of approximately $698.51 million.

Ontario Teachers Pension Plan Board decreased its holdings in NewMarket Corporation (NYSE:NEU - Free Report) by 12.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,557 shares of the specialty chemicals company's stock after selling 802 shares during the period. Ontario Teachers Pension Plan Board owned 0.06% of NewMarket worth $3,148,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in NEU. Vanguard Group Inc. lifted its stake in NewMarket by 1.8% in the first quarter. Vanguard Group Inc. now owns 744,723 shares of the specialty chemicals company's stock worth $421,848,000 after purchasing an additional 13,411 shares during the last quarter. LSV Asset Management raised its stake in shares of NewMarket by 1.0% during the first quarter. LSV Asset Management now owns 205,047 shares of the specialty chemicals company's stock valued at $116,149,000 after acquiring an additional 2,121 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of NewMarket by 8.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 185,858 shares of the specialty chemicals company's stock valued at $105,300,000 after acquiring an additional 15,155 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of NewMarket by 2.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 170,218 shares of the specialty chemicals company's stock valued at $89,938,000 after acquiring an additional 4,621 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of NewMarket by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 124,387 shares of the specialty chemicals company's stock valued at $65,741,000 after acquiring an additional 1,733 shares in the last quarter. Institutional investors own 61.09% of the company's stock.

NewMarket Stock Up 1.7%

NEU stock traded up $12.82 during trading on Monday, hitting $750.99. 21,420 shares of the company's stock traded hands, compared to its average volume of 74,902. The firm has a market capitalization of $7.06 billion, a P/E ratio of 14.89 and a beta of 0.45. The business has a fifty day simple moving average of $693.18 and a two-hundred day simple moving average of $611.58. The company has a quick ratio of 1.43, a current ratio of 2.66 and a debt-to-equity ratio of 0.52. NewMarket Corporation has a 1 year low of $480.00 and a 1 year high of $754.23.

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

NewMarket Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be issued a dividend of $2.75 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $11.00 dividend on an annualized basis and a dividend yield of 1.5%. NewMarket's payout ratio is 21.80%.

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.