NewMarket Corporation $NEU Shares Sold by Engineers Gate Manager LP

Engineers Gate Manager LP trimmed its position in NewMarket Corporation (NYSE:NEU) by 25.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,668 shares of the specialty chemicals company’s stock after selling 1,634 shares during the quarter. Engineers Gate Manager LP’s holdings in NewMarket were worth $3,694,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. boosted its position in NewMarket by 4.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 348 shares of the specialty chemicals company’s stock valued at $275,000 after buying an additional 15 shares during the last quarter. Strs Ohio raised its position in NewMarket by 12.7% during the 1st quarter. Strs Ohio now owns 151 shares of the specialty chemicals company’s stock worth $97,000 after buying an additional 17 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in NewMarket by 0.3% during the 1st quarter. The Manufacturers Life Insurance Company now owns 5,253 shares of the specialty chemicals company’s stock worth $3,367,000 after buying an additional 17 shares during the last quarter. Kesler Norman & Wride LLC lifted its stake in NewMarket by 1.6% during the 1st quarter. Kesler Norman & Wride LLC now owns 1,227 shares of the specialty chemicals company’s stock valued at $786,000 after acquiring an additional 19 shares during the period. Finally, Great Lakes Advisors LLC lifted its stake in NewMarket by 5.5% during the 4th quarter. Great Lakes Advisors LLC now owns 366 shares of the specialty chemicals company’s stock valued at $252,000 after acquiring an additional 19 shares during the period. Institutional investors and hedge funds own 61.09% of the company’s stock.

NewMarket Price Performance

NYSE:NEU opened at $887.29 on Friday. The company has a quick ratio of 1.23, a current ratio of 2.25 and a debt-to-equity ratio of 0.47. NewMarket Corporation has a 52 week low of $580.03 and a 52 week high of $981.66. The stock’s 50-day moving average price is $858.52 and its 200-day moving average price is $751.89. The stock has a market capitalization of $8.16 billion, a PE ratio of 19.09 and a beta of 0.55.

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

NewMarket Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be given a dividend of $3.00 per share. The ex-dividend date is Tuesday, September 15th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 1.4%. NewMarket’s dividend payout ratio (DPR) is 25.82%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on NEU shares. Wall Street Zen upgraded shares of NewMarket from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of NewMarket in a research report on Wednesday. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, NewMarket has a consensus rating of “Buy”.

NewMarket Company Profile

NewMarket Corporation (NYSE: NEU) is a holding company that develops, manufactures and supplies specialty chemicals, primarily for the petroleum and related industries. Its products are designed to improve the performance, efficiency and durability of fuels, lubricants and other petroleum-based products.

NewMarket operates through its principal subsidiaries, including Afton Chemical Corporation and Ethyl Corporation. Afton Chemical develops and produces fuel and lubricant additives used in automotive, marine, aviation, commercial and industrial applications.