Martingale Asset Management L P Reduces Stock Position in NewMarket Co. (NYSE:NEU)

Martingale Asset Management L P lowered its stake in shares of NewMarket Co. (NYSE:NEU - Free Report) by 17.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 22,638 shares of the specialty chemicals company's stock after selling 4,632 shares during the period. Martingale Asset Management L P owned approximately 0.24% of NewMarket worth $12,494,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Headlands Technologies LLC acquired a new position in shares of NewMarket during the second quarter valued at about $33,000. Quest Partners LLC bought a new stake in shares of NewMarket during the second quarter worth about $38,000. Blue Trust Inc. increased its position in shares of NewMarket by 590.9% during the third quarter. Blue Trust Inc. now owns 76 shares of the specialty chemicals company's stock worth $39,000 after acquiring an additional 65 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in shares of NewMarket during the second quarter worth about $54,000. Finally, nVerses Capital LLC bought a new stake in shares of NewMarket during the second quarter worth about $103,000. Institutional investors and hedge funds own 61.09% of the company's stock.

Analysts Set New Price Targets

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

NewMarket Stock Performance

Shares of NewMarket stock traded down $7.41 on Friday, reaching $533.56. 31,511 shares of the company traded hands, compared to its average volume of 35,025. NewMarket Co. has a 52 week low of $494.04 and a 52 week high of $650.00. The company has a 50 day moving average of $538.24 and a 200 day moving average of $540.99. The firm has a market capitalization of $5.12 billion, a PE ratio of 11.82 and a beta of 0.50. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.83 and a quick ratio of 1.50.

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

NewMarket Dividend Announcement

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

NewMarket Company 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.