Algert Global LLC Lowers Position in NewMarket Co. (NYSE:NEU)

Algert Global LLC reduced its position in NewMarket Co. (NYSE:NEU - Free Report) by 55.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,617 shares of the specialty chemicals company's stock after selling 2,020 shares during the quarter. Algert Global LLC's holdings in NewMarket were worth $892,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NEU. Bank of Montreal Can grew its stake in shares of NewMarket by 4.7% during the second quarter. Bank of Montreal Can now owns 739 shares of the specialty chemicals company's stock worth $399,000 after acquiring an additional 33 shares during the last quarter. Arizona State Retirement System lifted its holdings in NewMarket by 1.8% in the second quarter. Arizona State Retirement System now owns 2,013 shares of the specialty chemicals company's stock valued at $1,038,000 after acquiring an additional 36 shares during the period. DekaBank Deutsche Girozentrale lifted its holdings in NewMarket by 13.4% in the third quarter. DekaBank Deutsche Girozentrale now owns 382 shares of the specialty chemicals company's stock valued at $210,000 after acquiring an additional 45 shares during the period. CENTRAL TRUST Co lifted its holdings in NewMarket by 36.9% in the third quarter. CENTRAL TRUST Co now owns 219 shares of the specialty chemicals company's stock valued at $121,000 after acquiring an additional 59 shares during the period. Finally, Headlands Technologies LLC acquired a new position in shares of NewMarket during the 2nd quarter worth approximately $33,000. Hedge funds and other institutional investors own 61.09% of the company's stock.

NewMarket Price Performance

NYSE NEU traded down $7.41 during mid-day trading on Friday, hitting $533.56. The stock had a trading volume of 31,511 shares, compared to its average volume of 35,025. The firm's 50 day moving average is $538.24 and its 200 day moving average is $540.99. NewMarket Co. has a twelve month low of $494.04 and a twelve month 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 stock has a market capitalization of $5.12 billion, a price-to-earnings ratio of 11.82 and a beta of 0.50.

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

NewMarket Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 16th will be issued a $2.50 dividend. This represents a $10.00 annualized dividend and a yield of 1.87%. The ex-dividend date is Monday, December 16th. NewMarket's payout ratio is currently 22.21%.

Wall Street Analyst Weigh In

Separately, StockNews.com raised NewMarket from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, August 6th.

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.