The Manufacturers Life Insurance Company Has $3.20 Million Position in NewMarket Co. (NYSE:NEU)

The Manufacturers Life Insurance Company cut its holdings in NewMarket Co. (NYSE:NEU) by 2.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,052 shares of the specialty chemicals company’s stock after selling 134 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.06% of NewMarket worth $3,198,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in shares of NewMarket by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 731,312 shares of the specialty chemicals company’s stock valued at $386,389,000 after purchasing an additional 8,951 shares during the last quarter. Pacer Advisors Inc. lifted its position in shares of NewMarket by 1.3% in the fourth quarter. Pacer Advisors Inc. now owns 198,065 shares of the specialty chemicals company’s stock worth $104,648,000 after buying an additional 2,493 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of NewMarket by 2.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 170,218 shares of the specialty chemicals company’s stock worth $89,938,000 after acquiring an additional 4,621 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of NewMarket by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 124,387 shares of the specialty chemicals company’s stock valued at $65,741,000 after acquiring an additional 1,733 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of NewMarket by 20.6% in the 4th 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 acquiring an additional 15,694 shares in the last quarter. 61.09% of the stock is owned by institutional investors.

NewMarket Stock Down 0.1 %

NewMarket stock opened at $633.08 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.75 and a quick ratio of 1.40. NewMarket Co. has a fifty-two week low of $480.00 and a fifty-two week high of $638.01. The firm has a fifty day moving average price of $565.57 and a two-hundred day moving average price of $541.74. The firm has a market cap of $5.97 billion, a price-to-earnings ratio of 13.13 and a beta of 0.41.

NewMarket (NYSE:NEU) last posted its quarterly earnings data on Wednesday, April 23rd. The specialty chemicals company reported $13.26 earnings per share for the quarter. The business had revenue of $700.95 million during the quarter. NewMarket had a return on equity of 35.48% and a net margin of 16.59%.

NewMarket Dividend Announcement

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 paid a $2.75 dividend. The ex-dividend date is Monday, June 16th. This represents a $11.00 annualized dividend and a dividend yield of 1.74%. NewMarket’s payout ratio is 21.89%.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded NewMarket from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 19th.

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.