Ritholtz Wealth Management Lowers Position in NewMarket Corporation (NYSE:NEU)

Ritholtz Wealth Management cut its position in NewMarket Corporation (NYSE:NEU - Free Report) by 32.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,084 shares of the specialty chemicals company's stock after selling 521 shares during the quarter. Ritholtz Wealth Management's holdings in NewMarket were worth $614,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in NEU. Bessemer Group Inc. raised its holdings in 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 in the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in shares of NewMarket by 557.1% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 46 shares of the specialty chemicals company's stock valued at $26,000 after acquiring an additional 39 shares in the last quarter. Whipplewood Advisors LLC increased its holdings in shares of NewMarket by 7,700.0% during the first quarter. Whipplewood Advisors LLC now owns 78 shares of the specialty chemicals company's stock valued at $44,000 after acquiring an additional 77 shares in the last quarter. Centricity Wealth Management LLC acquired a new position in shares of NewMarket during the fourth quarter valued at about $56,000. Finally, UMB Bank n.a. increased its holdings in shares of NewMarket by 39.2% during the first quarter. UMB Bank n.a. now owns 103 shares of the specialty chemicals company's stock valued at $58,000 after acquiring an additional 29 shares in the last quarter. 61.09% of the stock is currently owned by institutional investors.

Insider Activity

In related 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 value of $199,795.73. Following the sale, the chief accounting officer now owns 358 shares in the company, valued at $229,989.94. This represents a 46.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 19.10% of the company's stock.

NewMarket Stock Up 0.2%

Shares of NEU traded up $1.49 during mid-day trading on Friday, hitting $650.29. 397,264 shares of the company traded hands, compared to its average volume of 46,488. NewMarket Corporation has a 1-year low of $480.00 and a 1-year high of $671.16. The company has a quick ratio of 1.60, a current ratio of 2.84 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $6.13 billion, a PE ratio of 12.94 and a beta of 0.41. The business has a 50 day moving average of $625.53 and a 200 day moving average of $563.18.

NewMarket (NYSE:NEU - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The specialty chemicals company reported $13.26 earnings per share (EPS) for the quarter. NewMarket had a net margin of 17.22% and a return on equity of 34.45%. The firm had revenue of $700.95 million for the quarter.

NewMarket Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Monday, June 16th. This represents a $11.00 annualized dividend and a dividend yield of 1.69%. NewMarket's dividend payout ratio (DPR) is currently 21.89%.

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.