Geode Capital Management LLC Reduces Position in NewMarket Co. (NYSE:NEU)

Geode Capital Management LLC trimmed its position in NewMarket Co. (NYSE:NEU - Free Report) by 10.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 122,654 shares of the specialty chemicals company's stock after selling 14,527 shares during the quarter. Geode Capital Management LLC owned about 1.28% of NewMarket worth $67,710,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pacer Advisors Inc. lifted its stake in shares of NewMarket by 64.7% during the 2nd quarter. Pacer Advisors Inc. now owns 198,249 shares of the specialty chemicals company's stock valued at $102,211,000 after buying an additional 77,908 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of NewMarket by 55,089.7% in the third quarter. International Assets Investment Management LLC now owns 21,524 shares of the specialty chemicals company's stock valued at $11,879,000 after acquiring an additional 21,485 shares in the last quarter. Millennium Management LLC boosted its stake in shares of NewMarket by 5,480.4% in the second quarter. Millennium Management LLC now owns 18,192 shares of the specialty chemicals company's stock worth $9,379,000 after acquiring an additional 17,866 shares during the period. Los Angeles Capital Management LLC grew its position in shares of NewMarket by 170.7% during the second quarter. Los Angeles Capital Management LLC now owns 23,633 shares of the specialty chemicals company's stock worth $12,184,000 after purchasing an additional 14,902 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in NewMarket by 8.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 159,467 shares of the specialty chemicals company's stock valued at $82,214,000 after purchasing an additional 12,110 shares during the period. Institutional investors own 61.09% of the company's stock.

NewMarket Price Performance

NEU stock traded down $0.56 during midday trading on Friday, hitting $523.64. The company's stock had a trading volume of 174,620 shares, compared to its average volume of 35,497. The company has a quick ratio of 1.50, a current ratio of 2.83 and a debt-to-equity ratio of 0.80. NewMarket Co. has a 12 month low of $494.04 and a 12 month high of $650.00. The company has a 50 day moving average of $537.81 and a two-hundred day moving average of $540.30. The firm has a market capitalization of $5.02 billion, a price-to-earnings ratio of 11.63 and a beta of 0.50.

NewMarket (NYSE:NEU - Get Free Report) last issued its earnings results 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 net margin of 15.57% and a return on equity of 35.79%.

NewMarket Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 16th will be given a dividend of $2.50 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $10.00 dividend on an annualized basis and a dividend yield of 1.91%. NewMarket's payout ratio is 22.21%.

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.