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

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

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of NewMarket by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 731,312 shares of the specialty chemicals company's stock valued at $386,389,000 after purchasing an additional 8,951 shares in the last quarter. Pacer Advisors Inc. raised its position in shares of NewMarket by 1.3% in the 4th quarter. Pacer Advisors Inc. now owns 198,065 shares of the specialty chemicals company's stock worth $104,648,000 after acquiring an additional 2,493 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in NewMarket by 2.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 170,218 shares of the specialty chemicals company's stock worth $89,938,000 after purchasing an additional 4,621 shares in the last quarter. Geode Capital Management LLC lifted its position 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 buying an additional 1,733 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of NewMarket by 20.6% during the 4th quarter. Bank of New York Mellon Corp now owns 91,875 shares of the specialty chemicals company's stock worth $48,542,000 after acquiring an additional 15,694 shares in the last quarter. 61.09% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

NewMarket Stock Performance

Shares of NYSE:NEU traded down $7.60 on Wednesday, hitting $638.78. 2,476 shares of the company were exchanged, compared to its average volume of 36,484. The company has a current ratio of 2.75, a quick ratio of 1.40 and a debt-to-equity ratio of 0.66. The stock's 50 day moving average price is $590.67 and its 200 day moving average price is $550.48. NewMarket Co. has a 1-year low of $480.00 and a 1-year high of $653.71. The firm has a market capitalization of $6.03 billion, a P/E ratio of 13.25 and a beta of 0.41.

NewMarket (NYSE:NEU - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The specialty chemicals company reported $13.26 earnings per share for the quarter. NewMarket had a return on equity of 35.48% and a net margin of 16.59%. The business had revenue of $700.95 million for the quarter.

NewMarket Dividend Announcement

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

Insider Activity at NewMarket

In other news, CAO Bruce R. Hazelgrove III sold 311 shares of the company's stock in a transaction that occurred 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 transaction, 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 position. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 19.10% of the company's stock.

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.