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

Martingale Asset Management L P decreased its holdings in shares of NewMarket Co. (NYSE:NEU - Free Report) by 3.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,752 shares of the specialty chemicals company's stock after selling 886 shares during the quarter. Martingale Asset Management L P owned about 0.23% of NewMarket worth $11,493,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of NEU. Eagle Bay Advisors LLC bought a new position in shares of NewMarket during the fourth quarter valued at approximately $40,000. Centricity Wealth Management LLC acquired a new stake in NewMarket in the fourth quarter worth about $56,000. Blue Trust Inc. lifted its stake in shares of NewMarket by 55.3% during the fourth quarter. Blue Trust Inc. now owns 118 shares of the specialty chemicals company's stock worth $65,000 after buying an additional 42 shares during the period. Kohmann Bosshard Financial Services LLC purchased a new position in shares of NewMarket in the fourth quarter worth about $74,000. Finally, Steward Partners Investment Advisory LLC boosted its holdings in shares of NewMarket by 481.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 157 shares of the specialty chemicals company's stock valued at $83,000 after acquiring an additional 130 shares during the last quarter. Institutional investors own 61.09% of the company's stock.

NewMarket Price Performance

Shares of NewMarket stock traded down $2.90 on Tuesday, reaching $562.67. The company's stock had a trading volume of 8,446 shares, compared to its average volume of 36,522. NewMarket Co. has a 52-week low of $480.00 and a 52-week high of $598.00. The company has a market capitalization of $5.34 billion, a P/E ratio of 11.67 and a beta of 0.44. The company has a quick ratio of 1.40, a current ratio of 2.75 and a debt-to-equity ratio of 0.66. The stock has a 50-day moving average price of $545.80 and a 200-day moving average price of $532.56.

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

NewMarket Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 17th were issued a $2.75 dividend. This is a boost from NewMarket's previous quarterly dividend of $2.50. This represents a $11.00 annualized dividend and a yield of 1.95%. The ex-dividend date was Monday, March 17th. NewMarket's dividend payout ratio is presently 22.82%.

Analyst Ratings Changes

Separately, StockNews.com cut NewMarket from a "strong-buy" rating to a "buy" rating in a research 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.