Rhumbline Advisers Boosts Stake in NewMarket Co. (NYSE:NEU)

Rhumbline Advisers lifted its position in shares of NewMarket Co. (NYSE:NEU - Free Report) by 12.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & 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 0.29% of NewMarket worth $15,428,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. MassMutual Private Wealth & Trust FSB raised its position in shares of NewMarket by 557.1% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 46 shares of the specialty chemicals company's stock worth $26,000 after purchasing an additional 39 shares during the last quarter. Bessemer Group Inc. raised its position in shares of NewMarket by 166.7% during the 4th 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 acquired a new position in shares of NewMarket during the 4th quarter worth about $56,000. Kapitalo Investimentos Ltda acquired a new position in shares of NewMarket during the 4th quarter worth about $59,000. Finally, Blue Trust Inc. raised its position in shares of NewMarket by 55.3% during the 4th quarter. Blue Trust Inc. now owns 118 shares of the specialty chemicals company's stock worth $65,000 after purchasing an additional 42 shares during the last quarter. 61.09% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at NewMarket

In other news, CAO Bruce R. Hazelgrove III sold 311 shares of the stock in a transaction that occurred 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 owns 358 shares of the company's stock, 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 hyperlink. 19.10% of the stock is owned by insiders.

NewMarket Stock Up 0.9%

NEU stock opened at $644.93 on Friday. The company has a market cap of $6.08 billion, a price-to-earnings ratio of 13.38 and a beta of 0.41. The company has a current ratio of 2.75, a quick ratio of 1.40 and a debt-to-equity ratio of 0.66. NewMarket Co. has a 12 month low of $480.00 and a 12 month high of $653.71. The firm has a 50-day moving average of $604.44 and a two-hundred day moving average of $555.50.

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

NewMarket Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 16th will be issued a $2.75 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $11.00 dividend on an annualized basis and a yield of 1.71%. NewMarket's payout ratio is 21.89%.

Wall Street Analysts Forecast Growth

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 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.