M&T Bank Corp Has $2.66 Million Stock Position in NewMarket Co. (NYSE:NEU)

M&T Bank Corp decreased its stake in shares of NewMarket Co. (NYSE:NEU - Free Report) by 23.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,040 shares of the specialty chemicals company's stock after selling 1,568 shares during the period. M&T Bank Corp owned 0.05% of NewMarket worth $2,663,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in NEU. Atria Investments Inc boosted its position in NewMarket by 1.6% in the 4th quarter. Atria Investments Inc now owns 1,302 shares of the specialty chemicals company's stock valued at $688,000 after buying an additional 20 shares during the last quarter. Assetmark Inc. lifted its stake in shares of NewMarket by 0.6% during the fourth quarter. Assetmark Inc. now owns 3,118 shares of the specialty chemicals company's stock valued at $1,647,000 after acquiring an additional 20 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in NewMarket by 4.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 82,347 shares of the specialty chemicals company's stock valued at $43,508,000 after acquiring an additional 3,601 shares during the last quarter. Steward Partners Investment Advisory LLC increased its position in NewMarket by 481.5% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 157 shares of the specialty chemicals company's stock worth $83,000 after purchasing an additional 130 shares during the period. Finally, Kohmann Bosshard Financial Services LLC bought a new stake in NewMarket during the 4th quarter worth about $74,000. Institutional investors own 61.09% of the company's stock.

Remove Ads

Analysts Set New Price Targets

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

NewMarket Trading Up 0.0 %

NEU stock traded up $0.12 during midday trading on Friday, reaching $546.11. The company's stock had a trading volume of 78,784 shares, compared to its average volume of 33,318. The business's 50-day simple moving average is $521.29 and its 200-day simple moving average is $535.02. The stock has a market cap of $5.20 billion, a PE ratio of 11.33 and a beta of 0.41. NewMarket Co. has a 52 week low of $480.00 and a 52 week high of $638.21. The company has a quick ratio of 1.40, a current ratio of 2.75 and a debt-to-equity ratio of 0.66.

NewMarket (NYSE:NEU - Get Free Report) last posted its quarterly earnings results 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 business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th will be paid a $2.75 dividend. The ex-dividend date is Monday, March 17th. This is a boost from NewMarket's previous quarterly dividend of $2.50. This represents a $11.00 dividend on an annualized basis and a dividend yield of 2.01%. NewMarket's dividend payout ratio is 22.82%.

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.