Ethic Inc. Raises Stake in NewMarket Co. (NYSE:NEU)

Ethic Inc. raised its position in NewMarket Co. (NYSE:NEU - Free Report) by 29.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,007 shares of the specialty chemicals company's stock after buying an additional 456 shares during the quarter. Ethic Inc.'s holdings in NewMarket were worth $1,060,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Bessemer Group Inc. raised its holdings in shares of NewMarket by 166.7% during the fourth 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. Eagle Bay Advisors LLC purchased a new position in NewMarket in the 4th quarter valued at approximately $40,000. Centricity Wealth Management LLC bought a new position in NewMarket in the 4th quarter worth about $56,000. Kapitalo Investimentos Ltda bought a new stake in NewMarket during the 4th quarter worth approximately $59,000. Finally, Blue Trust Inc. grew its position in NewMarket by 55.3% during the fourth quarter. Blue Trust Inc. now owns 118 shares of the specialty chemicals company's stock worth $65,000 after buying an additional 42 shares in the last quarter. 61.09% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CAO Bruce R. Hazelgrove III sold 311 shares of the company's stock in a transaction dated 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 transaction, the chief accounting officer now owns 358 shares of the company's stock, valued at approximately $229,989.94. This represents a 46.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 19.10% of the company's stock.

Analyst Ratings Changes

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

NewMarket Stock Up 0.3%

NEU stock traded up $2.17 during midday trading on Monday, hitting $652.47. The company's stock had a trading volume of 1,776 shares, compared to its average volume of 44,802. NewMarket Co. has a 12 month low of $480.00 and a 12 month high of $652.48. The firm's 50-day moving average is $574.56 and its 200-day moving average is $545.48. The company has a current ratio of 2.75, a quick ratio of 1.40 and a debt-to-equity ratio of 0.66. The company has a market cap of $6.16 billion, a PE ratio of 13.53 and a beta of 0.41.

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 net margin of 16.59% and a return on equity of 35.48%. The business had revenue of $700.95 million during the quarter.

NewMarket Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors 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 yield of 1.69%. The ex-dividend date is Monday, June 16th. NewMarket's dividend payout ratio (DPR) is presently 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.