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

A number of other hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its stake in shares of NewMarket by 54,160.0% during the 1st quarter. GAMMA Investing LLC now owns 103,094 shares of the specialty chemicals company's stock worth $58,398,000 after acquiring an additional 102,904 shares in the last quarter. Northern Trust Corp boosted its stake in shares of NewMarket by 23.8% during the 4th quarter. Northern Trust Corp now owns 80,156 shares of the specialty chemicals company's stock worth $42,350,000 after acquiring an additional 15,424 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of NewMarket by 8.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 185,858 shares of the specialty chemicals company's stock worth $105,300,000 after acquiring an additional 15,155 shares in the last quarter. Barclays PLC boosted its stake in shares of NewMarket by 293.3% during the 4th quarter. Barclays PLC now owns 18,928 shares of the specialty chemicals company's stock worth $10,002,000 after acquiring an additional 14,115 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of NewMarket by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 744,723 shares of the specialty chemicals company's stock worth $421,848,000 after acquiring an additional 13,411 shares in the last quarter. Institutional investors and hedge funds own 61.09% of the company's stock.

Insider Activity 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 transaction 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 filing with the SEC, which is available at this link. 19.10% of the stock is currently owned by insiders.

NewMarket Price Performance

Shares of NewMarket stock traded up $13.86 during trading on Friday, hitting $737.97. 75,259 shares of the company were exchanged, compared to its average volume of 74,289. 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 fifty-two week low of $480.00 and a fifty-two week high of $743.52. The stock has a market capitalization of $6.94 billion, a price-to-earnings ratio of 14.63 and a beta of 0.45. The firm has a 50 day moving average price of $693.18 and a 200 day moving average price of $609.97.

NewMarket (NYSE:NEU - Get Free Report) last posted 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 return on equity of 32.25% and a net margin of 17.28%. The business had revenue of $698.51 million for the quarter.

NewMarket Dividend Announcement

The company 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. This represents a $11.00 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Monday, September 15th. NewMarket's dividend payout ratio is presently 21.80%.

NewMarket 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.