Point72 Asset Management L.P. Purchases Shares of 1,284 NewMarket Co. (NYSE:NEU)

Point72 Asset Management L.P. acquired a new stake in NewMarket Co. (NYSE:NEU - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 1,284 shares of the specialty chemicals company's stock, valued at approximately $678,000.

Several other institutional investors have also added to or reduced their stakes in the business. Bessemer Group Inc. raised its stake in shares of NewMarket by 166.7% in the fourth 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 last quarter. Centricity Wealth Management LLC bought a new stake in NewMarket in the 4th quarter worth about $56,000. Kapitalo Investimentos Ltda purchased a new position in NewMarket in the 4th quarter worth about $59,000. Blue Trust Inc. lifted its stake in NewMarket by 55.3% during the 4th quarter. Blue Trust Inc. now owns 118 shares of the specialty chemicals company's stock valued at $65,000 after acquiring an additional 42 shares during the period. Finally, Kohmann Bosshard Financial Services LLC bought a new position in NewMarket during the 4th quarter valued at about $74,000. 61.09% of the stock is currently owned by hedge funds and other institutional investors.

NewMarket Stock Performance

NEU traded down $7.39 during mid-day trading on Friday, reaching $639.67. 36,771 shares of the company traded hands, compared to its average volume of 36,607. The company's fifty day moving average price is $586.50 and its 200-day moving average price is $549.24. The stock has a market capitalization of $6.03 billion, a P/E ratio of 13.27 and a beta of 0.41. The company has a quick ratio of 1.40, a current ratio of 2.75 and a debt-to-equity ratio of 0.66. NewMarket Co. has a 52-week low of $480.00 and a 52-week high of $653.71.

NewMarket (NYSE:NEU - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The specialty chemicals company reported $13.26 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 during the quarter.

NewMarket Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 16th will be given a dividend of $2.75 per share. This represents a $11.00 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date is Monday, June 16th. NewMarket's payout ratio is 21.89%.

Insider Activity

In other news, CAO Bruce R. Hazelgrove III sold 311 shares of the stock in a transaction on Monday, May 12th. The shares were 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 now directly owns 358 shares of the company's stock, valued at $229,989.94. This represents a 46.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 19.10% of the company's stock.

Analyst Ratings Changes

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

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.