Cove Street Capital LLC Sells 2,208 Shares of NewMarket Co. (NYSE:NEU)

Cove Street Capital LLC trimmed its position in shares of NewMarket Co. (NYSE:NEU - Free Report) by 38.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,530 shares of the specialty chemicals company's stock after selling 2,208 shares during the period. NewMarket makes up approximately 2.2% of Cove Street Capital LLC's investment portfolio, making the stock its 19th largest position. Cove Street Capital LLC's holdings in NewMarket were worth $1,865,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Barclays PLC boosted its position in shares of NewMarket by 34.5% during the 3rd quarter. Barclays PLC now owns 4,813 shares of the specialty chemicals company's stock worth $2,656,000 after acquiring an additional 1,235 shares in the last quarter. Janney Montgomery Scott LLC bought a new stake in NewMarket during the fourth quarter worth $252,000. Empowered Funds LLC boosted its holdings in shares of NewMarket by 61.3% in the 4th quarter. Empowered Funds LLC now owns 1,490 shares of the specialty chemicals company's stock valued at $787,000 after purchasing an additional 566 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in shares of NewMarket by 5.6% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 1,042 shares of the specialty chemicals company's stock valued at $550,000 after purchasing an additional 55 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of NewMarket by 1.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 50,585 shares of the specialty chemicals company's stock worth $27,917,000 after buying an additional 722 shares in the last quarter. 61.09% of the stock is owned by institutional investors.

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NewMarket Price Performance

NEU stock traded down $4.02 during trading on Thursday, reaching $562.25. 10,836 shares of the company were exchanged, compared to its average volume of 36,027. The company has a market capitalization of $5.33 billion, a price-to-earnings ratio of 11.66 and a beta of 0.41. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.75 and a quick ratio of 1.40. The company has a 50-day moving average of $536.70 and a two-hundred day moving average of $533.17. NewMarket Co. has a twelve month low of $480.00 and a twelve month high of $632.60.

NewMarket (NYSE:NEU - Get Free Report) last announced its quarterly earnings results on Monday, February 3rd. The specialty chemicals company reported $11.56 earnings per share (EPS) for the quarter. NewMarket had a net margin of 16.59% and a return on equity of 35.48%.

NewMarket Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th were paid a dividend of $2.75 per share. This represents a $11.00 dividend on an annualized basis and a dividend yield of 1.96%. This is a positive change from NewMarket's previous quarterly dividend of $2.50. The ex-dividend date was Monday, March 17th. NewMarket's dividend payout ratio (DPR) is presently 22.82%.

Analysts Set New Price Targets

Separately, StockNews.com cut NewMarket from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, February 19th.

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.