LSV Asset Management Trims Holdings in NewMarket Co. (NYSE:NEU)

LSV Asset Management reduced its position in shares of NewMarket Co. (NYSE:NEU - Free Report) by 3.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 202,926 shares of the specialty chemicals company's stock after selling 6,640 shares during the period. LSV Asset Management owned 2.11% of NewMarket worth $107,216,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Bessemer Group Inc. raised its holdings in shares of NewMarket by 166.7% during the 4th quarter. Bessemer Group Inc. now owns 48 shares of the specialty chemicals company's stock valued at $25,000 after buying an additional 30 shares during the period. Raymond James Financial Inc. acquired a new position in shares of NewMarket during the 4th quarter valued at $1,613,000. Legal & General Group Plc boosted its stake in shares of NewMarket by 1.8% during the 4th quarter. Legal & General Group Plc now owns 12,532 shares of the specialty chemicals company's stock worth $6,621,000 after acquiring an additional 226 shares in the last quarter. Bank of Montreal Can boosted its stake in NewMarket by 8.5% in the 4th quarter. Bank of Montreal Can now owns 908 shares of the specialty chemicals company's stock worth $480,000 after purchasing an additional 71 shares during the period. Finally, Aristides Capital LLC increased its stake in NewMarket by 38.1% in the 4th quarter. Aristides Capital LLC now owns 544 shares of the specialty chemicals company's stock valued at $287,000 after buying an additional 150 shares during the period. 61.09% of the stock is currently owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

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

NewMarket Price Performance

Shares of NYSE NEU traded up $2.67 during midday trading on Wednesday, reaching $564.52. 5,921 shares of the company traded hands, compared to its average volume of 36,477. The stock's 50-day simple moving average is $546.62 and its 200-day simple moving average is $532.76. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.40 and a current ratio of 2.75. NewMarket Co. has a 12 month low of $480.00 and a 12 month high of $596.89. The firm has a market cap of $5.36 billion, a PE ratio of 11.71 and a beta of 0.44.

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

NewMarket Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 17th were given a dividend of $2.75 per share. This is a positive change from NewMarket's previous quarterly dividend of $2.50. The ex-dividend date was Monday, March 17th. This represents a $11.00 annualized dividend and a dividend yield of 1.95%. NewMarket's dividend payout ratio (DPR) is currently 22.82%.

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.