Rhumbline Advisers Purchases 3,075 Shares of NewMarket Co. (NYSE:NEU)

Rhumbline Advisers increased its position in NewMarket Co. (NYSE:NEU - Free Report) by 12.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,236 shares of the specialty chemicals company's stock after acquiring an additional 3,075 shares during the quarter. Rhumbline Advisers owned about 0.29% of NewMarket worth $15,428,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Barclays PLC increased its holdings in NewMarket by 34.5% in the 3rd quarter. Barclays PLC now owns 4,813 shares of the specialty chemicals company's stock worth $2,656,000 after acquiring an additional 1,235 shares in the last quarter. Janney Montgomery Scott LLC purchased a new stake in NewMarket in the 4th quarter worth approximately $252,000. Empowered Funds LLC increased its holdings in NewMarket by 61.3% in 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 holdings in NewMarket by 5.6% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 1,042 shares of the specialty chemicals company's stock worth $550,000 after acquiring an additional 55 shares in the last quarter. Finally, Principal Securities Inc. increased its holdings in NewMarket by 10.9% in the 4th quarter. Principal Securities Inc. now owns 357 shares of the specialty chemicals company's stock worth $189,000 after acquiring an additional 35 shares in the last quarter. 61.09% of the stock is owned by hedge funds and other institutional investors.

NewMarket Price Performance

NEU stock traded up $4.05 during midday trading on Wednesday, hitting $664.73. The company's stock had a trading volume of 295,392 shares, compared to its average volume of 42,921. NewMarket Co. has a 12 month low of $480.00 and a 12 month high of $667.15. The company has a quick ratio of 1.40, a current ratio of 2.75 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $6.27 billion, a price-to-earnings ratio of 13.79 and a beta of 0.41. The company has a 50 day moving average of $610.54 and a two-hundred day moving average of $557.95.

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 during the quarter.

NewMarket Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Monday, June 16th. This represents a $11.00 annualized dividend and a yield of 1.65%. NewMarket's payout ratio is 21.89%.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other news, CAO Bruce R. Hazelgrove III sold 311 shares of the 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 in the company, valued at approximately $229,989.94. This represents a 46.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 19.10% of the stock is currently owned by corporate insiders.

About NewMarket

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.