Lazard Asset Management LLC Sells 6,842 Shares of NewMarket Co. (NYSE:NEU)

Lazard Asset Management LLC reduced its stake in shares of NewMarket Co. (NYSE:NEU - Free Report) by 47.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,591 shares of the specialty chemicals company's stock after selling 6,842 shares during the quarter. Lazard Asset Management LLC owned about 0.08% of NewMarket worth $4,010,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Assetmark Inc. grew its position in shares of NewMarket by 0.6% in the 4th quarter. Assetmark Inc. now owns 3,118 shares of the specialty chemicals company's stock valued at $1,647,000 after purchasing an additional 20 shares during the period. Atria Investments Inc grew its position in shares of NewMarket by 1.6% in the 4th quarter. Atria Investments Inc now owns 1,302 shares of the specialty chemicals company's stock valued at $688,000 after purchasing an additional 20 shares during the period. Oregon Public Employees Retirement Fund grew its position in shares of NewMarket by 1.7% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,561 shares of the specialty chemicals company's stock valued at $825,000 after purchasing an additional 26 shares during the period. Parallel Advisors LLC grew its position in shares of NewMarket by 4.3% in the 4th quarter. Parallel Advisors LLC now owns 735 shares of the specialty chemicals company's stock valued at $388,000 after purchasing an additional 30 shares during the period. Finally, Bessemer Group Inc. grew its position in shares of NewMarket by 166.7% in the 4th quarter. Bessemer Group Inc. now owns 48 shares of the specialty chemicals company's stock valued at $25,000 after purchasing an additional 30 shares during the period. 61.09% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling 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 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 position. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 19.10% of the company's stock.

NewMarket Stock Down 0.9%

NYSE NEU traded down $5.81 during trading on Wednesday, hitting $644.66. The stock had a trading volume of 6,558 shares, compared to its average volume of 36,302. The company has a market capitalization of $6.08 billion, a PE ratio of 13.29 and a beta of 0.41. The company's 50-day moving average price is $577.09 and its two-hundred day moving average price is $546.46. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.40 and a current ratio of 2.75. NewMarket Co. has a 12 month low of $480.00 and a 12 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 EPS for the quarter. The firm had revenue of $700.95 million for the quarter. NewMarket had a return on equity of 35.48% and a net margin of 16.59%.

NewMarket Dividend Announcement

The company also recently announced 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. This represents a $11.00 annualized dividend and a yield of 1.71%. The ex-dividend date is Monday, June 16th. NewMarket's payout ratio is 21.89%.

Wall Street Analyst Weigh In

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

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.