Clifford Swan Investment Counsel LLC Sells 600 Shares of NewMarket Corporation $NEU

Clifford Swan Investment Counsel LLC trimmed its position in shares of NewMarket Corporation (NYSE:NEU) by 8.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,400 shares of the specialty chemicals company’s stock after selling 600 shares during the quarter. Clifford Swan Investment Counsel LLC’s holdings in NewMarket were worth $5,064,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Susquehanna Fundamental Investments LLC acquired a new stake in NewMarket in the 2nd quarter valued at $2,100,000. Northwestern Mutual Wealth Management Co. raised its holdings in NewMarket by 4.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 348 shares of the specialty chemicals company’s stock worth $275,000 after buying an additional 15 shares during the last quarter. Empowered Funds LLC acquired a new position in NewMarket during the second quarter worth $1,438,000. United Capital Financial Advisors LLC bought a new position in shares of NewMarket in the second quarter valued at $210,000. Finally, Public Employees Retirement System of Ohio bought a new position in shares of NewMarket in the second quarter valued at $1,463,000. 61.09% of the stock is currently owned by institutional investors.

NewMarket Price Performance

Shares of NYSE:NEU opened at $897.87 on Tuesday. The company has a current ratio of 2.25, a quick ratio of 1.23 and a debt-to-equity ratio of 0.47. The stock has a market cap of $8.26 billion, a PE ratio of 19.32 and a beta of 0.56. The stock’s fifty day simple moving average is $841.03 and its two-hundred day simple moving average is $735.43. NewMarket Corporation has a 1-year low of $580.03 and a 1-year high of $981.66.

NewMarket (NYSE:NEU) last posted its earnings results on Wednesday, July 29th. The specialty chemicals company reported $14.54 earnings per share (EPS) for the quarter. The firm had revenue of $747.09 million during the quarter. NewMarket had a net margin of 15.80% and a return on equity of 24.62%.

NewMarket Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 15th will be issued a dividend of $3.00 per share. The ex-dividend date is Tuesday, September 15th. This represents a $12.00 annualized dividend and a yield of 1.3%. NewMarket’s payout ratio is 25.82%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on NEU shares. Wall Street Zen raised shares of NewMarket from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. Weiss Ratings raised shares of NewMarket from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, June 12th. One analyst has rated the stock with a Buy rating, According to MarketBeat, NewMarket has a consensus rating of “Buy”.

About NewMarket

NewMarket Corporation is a specialty chemicals and lubricants company headquartered in Richmond, Virginia. Through its Valvoline business, the company markets a broad portfolio of automotive aftermarket products, including engine oils, transmission fluids, greases and vehicle care solutions. Valvoline products are distributed through retail and commercial channels as well as a network of quick-lube service centers that provide oil changes, preventive maintenance and related services.

In its chemical additives segment, NewMarket develops, manufactures and sells performance additives for fuels, lubricants and industrial fluids.