Los Angeles Capital Management LLC Reduces Holdings in NewMarket Co. (NYSE:NEU)

Los Angeles Capital Management LLC reduced its stake in shares of NewMarket Co. (NYSE:NEU - Free Report) by 36.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,088 shares of the specialty chemicals company's stock after selling 7,529 shares during the quarter. Los Angeles Capital Management LLC owned about 0.14% of NewMarket worth $6,915,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Blue Trust Inc. grew its holdings in NewMarket by 590.9% during the 3rd quarter. Blue Trust Inc. now owns 76 shares of the specialty chemicals company's stock valued at $39,000 after buying an additional 65 shares in the last quarter. Eagle Bay Advisors LLC purchased a new stake in NewMarket during the 4th quarter valued at approximately $40,000. Centricity Wealth Management LLC purchased a new stake in NewMarket during the 4th quarter valued at approximately $56,000. ORG Partners LLC purchased a new stake in NewMarket during the 4th quarter valued at approximately $159,000. Finally, KBC Group NV grew its holdings in shares of NewMarket by 82.4% in the fourth quarter. KBC Group NV now owns 321 shares of the specialty chemicals company's stock valued at $170,000 after purchasing an additional 145 shares in the last quarter. 61.09% of the stock is owned by hedge funds and other institutional investors.

NewMarket Price Performance

Shares of NEU stock traded up $7.13 on Friday, reaching $570.25. The company's stock had a trading volume of 60,412 shares, compared to its average volume of 36,705. The stock's fifty day simple moving average is $518.82 and its 200-day simple moving average is $534.85. NewMarket Co. has a 1 year low of $480.00 and a 1 year high of $650.00. The company has a current ratio of 2.75, a quick ratio of 1.40 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $5.43 billion, a price-to-earnings ratio of 11.83 and a beta of 0.48.

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NewMarket (NYSE:NEU - Get Free Report) last posted its earnings results on Monday, February 3rd. The specialty chemicals company reported $11.56 earnings per share 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 disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 17th will be paid a dividend of $2.75 per share. This represents a $11.00 annualized dividend and a yield of 1.93%. This is a positive change from NewMarket's previous quarterly dividend of $2.50. The ex-dividend date of this dividend is Monday, March 17th. NewMarket's payout ratio is presently 20.74%.

Analysts Set New Price Targets

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

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.