Intech Investment Management LLC Lowers Stock Holdings in NewMarket Co. (NYSE:NEU)

Intech Investment Management LLC lessened its holdings in NewMarket Co. (NYSE:NEU) by 22.4% in the third quarter, HoldingsChannel reports. The institutional investor owned 1,882 shares of the specialty chemicals company’s stock after selling 544 shares during the quarter. Intech Investment Management LLC’s holdings in NewMarket were worth $1,039,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of NEU. Price T Rowe Associates Inc. MD grew its position in shares of NewMarket by 5.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,574 shares of the specialty chemicals company’s stock worth $2,269,000 after purchasing an additional 192 shares in the last quarter. Public Employees Retirement Association of Colorado purchased a new stake in NewMarket during the 1st quarter valued at approximately $399,000. Public Employees Retirement System of Ohio raised its position in shares of NewMarket by 3.7% during the first quarter. Public Employees Retirement System of Ohio now owns 2,821 shares of the specialty chemicals company’s stock valued at $1,790,000 after buying an additional 100 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new position in shares of NewMarket in the first quarter worth $239,000. Finally, SG Americas Securities LLC boosted its position in shares of NewMarket by 23.5% during the second quarter. SG Americas Securities LLC now owns 2,558 shares of the specialty chemicals company’s stock worth $1,319,000 after acquiring an additional 487 shares during the last quarter. 61.09% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of NewMarket from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 6th.

NewMarket Price Performance

NYSE:NEU opened at $540.97 on Thursday. The company has a market capitalization of $5.19 billion, a P/E ratio of 12.01 and a beta of 0.50. The business’s 50-day moving average is $538.69 and its 200 day moving average is $541.18. The company has a current ratio of 2.83, a quick ratio of 1.50 and a debt-to-equity ratio of 0.80. NewMarket Co. has a 12 month low of $494.04 and a 12 month high of $650.00.

NewMarket (NYSE:NEU) last issued its quarterly earnings data on Wednesday, October 23rd. The specialty chemicals company reported $13.79 earnings per share (EPS) for the quarter. NewMarket had a return on equity of 35.79% and a net margin of 15.57%. The business had revenue of $724.95 million for the quarter.

NewMarket Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 16th will be issued a $2.50 dividend. This represents a $10.00 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date of this dividend is Monday, December 16th. NewMarket’s dividend payout ratio (DPR) is 22.21%.

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.