Squarepoint Ops LLC Has $1.99 Million Stake in NewMarket Co. (NYSE:NEU)

Squarepoint Ops LLC lifted its stake in shares of NewMarket Co. (NYSE:NEU - Free Report) by 126.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,769 shares of the specialty chemicals company's stock after purchasing an additional 2,108 shares during the period. Squarepoint Ops LLC's holdings in NewMarket were worth $1,991,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Norges Bank purchased a new position in NewMarket during the 4th quarter worth approximately $41,268,000. American Century Companies Inc. boosted its position in shares of NewMarket by 147.2% in the fourth quarter. American Century Companies Inc. now owns 47,717 shares of the specialty chemicals company's stock worth $25,211,000 after buying an additional 28,417 shares during the period. Proficio Capital Partners LLC purchased a new position in shares of NewMarket during the fourth quarter valued at $8,933,000. Bank of New York Mellon Corp raised its position in NewMarket by 20.6% during the fourth quarter. Bank of New York Mellon Corp now owns 91,875 shares of the specialty chemicals company's stock valued at $48,542,000 after buying an additional 15,694 shares during the period. Finally, Northern Trust Corp raised its position in NewMarket by 23.8% during the fourth quarter. Northern Trust Corp now owns 80,156 shares of the specialty chemicals company's stock valued at $42,350,000 after buying an additional 15,424 shares during the period. 61.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

NewMarket Stock Down 0.0%

Shares of NEU stock traded down $0.25 during trading on Monday, hitting $643.81. 32,864 shares of the company were exchanged, compared to its average volume of 36,572. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.40 and a current ratio of 2.75. The firm has a market capitalization of $6.07 billion, a price-to-earnings ratio of 13.35 and a beta of 0.41. The business's 50-day simple moving average is $598.24 and its 200 day simple moving average is $552.92. NewMarket Co. has a twelve month low of $480.00 and a twelve month high of $653.71.

NewMarket (NYSE:NEU - Get Free Report) last released its earnings results on Wednesday, April 23rd. The specialty chemicals company reported $13.26 earnings per share (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 business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 16th will be paid a $2.75 dividend. This represents a $11.00 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date of this dividend is Monday, June 16th. NewMarket's dividend payout ratio (DPR) is presently 21.89%.

Insider Buying and Selling

In related news, CAO Bruce R. Hazelgrove III sold 311 shares of the business'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 completion of the sale, the chief accounting officer now owns 358 shares of the company's stock, valued at approximately $229,989.94. The trade was a 46.49% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 19.10% of the stock is 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.