PNC Financial Services Group Inc. Trims Stock Position in NewMarket Co. (NYSE:NEU)

PNC Financial Services Group Inc. trimmed its stake in shares of NewMarket Co. (NYSE:NEU) by 0.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,394 shares of the specialty chemicals company’s stock after selling 20 shares during the quarter. PNC Financial Services Group Inc.’s holdings in NewMarket were worth $1,321,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of NEU. Headlands Technologies LLC acquired a new stake in shares of NewMarket during the second quarter worth $33,000. Quest Partners LLC purchased a new position in NewMarket during the 2nd quarter worth $38,000. Blue Trust Inc. lifted its stake in shares of NewMarket by 590.9% in the 3rd quarter. Blue Trust Inc. now owns 76 shares of the specialty chemicals company’s stock worth $39,000 after acquiring an additional 65 shares during the period. Ashton Thomas Private Wealth LLC purchased a new stake in shares of NewMarket in the second quarter valued at about $54,000. Finally, nVerses Capital LLC acquired a new position in shares of NewMarket during the second quarter worth about $103,000. 61.09% of the stock is currently owned by hedge funds and other institutional investors.

NewMarket Trading Down 0.3 %

Shares of NEU stock opened at $540.97 on Thursday. NewMarket Co. has a 1-year low of $494.04 and a 1-year high of $650.00. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.83 and a quick ratio of 1.50. The business’s fifty day moving average price is $538.69 and its 200 day moving average price is $541.18. The firm has a market capitalization of $5.19 billion, a PE ratio of 12.01 and a beta of 0.50.

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

NewMarket Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 16th will be given a $2.50 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $10.00 annualized dividend and a dividend yield of 1.85%. NewMarket’s dividend payout ratio is presently 22.21%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised NewMarket from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 6th.

NewMarket 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.