HighTower Advisors LLC Sells 2,654 Shares of NewMarket Co. (NYSE:NEU)

HighTower Advisors LLC lessened its stake in NewMarket Co. (NYSE:NEU - Free Report) by 49.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,736 shares of the specialty chemicals company's stock after selling 2,654 shares during the quarter. HighTower Advisors LLC's holdings in NewMarket were worth $1,446,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Amundi bought a new position in shares of NewMarket during the fourth quarter worth $1,093,000. Edgestream Partners L.P. acquired a new stake in NewMarket during the 4th quarter worth $3,748,000. Callan Family Office LLC bought a new position in NewMarket during the fourth quarter worth about $260,000. Raymond James Financial Inc. acquired a new position in NewMarket in the fourth quarter valued at about $1,613,000. Finally, Arizona State Retirement System grew its stake in NewMarket by 14.2% in the fourth quarter. Arizona State Retirement System now owns 2,367 shares of the specialty chemicals company's stock valued at $1,251,000 after acquiring an additional 295 shares during the period. Institutional investors and hedge funds own 61.09% of the company's stock.

NewMarket Stock Down 1.1 %

NEU traded down $6.34 during trading on Friday, reaching $552.19. The company had a trading volume of 36,138 shares, compared to its average volume of 35,970. The business's fifty day moving average price is $531.40 and its 200 day moving average price is $533.38. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.75 and a quick ratio of 1.40. NewMarket Co. has a 12 month low of $480.00 and a 12 month high of $638.21. The company has a market cap of $5.24 billion, a P/E ratio of 11.45 and a beta of 0.41.

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NewMarket (NYSE:NEU - Get Free Report) last posted its quarterly earnings data on Monday, February 3rd. The specialty chemicals company reported $11.56 EPS 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 announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 17th will be paid a $2.75 dividend. This is a boost from NewMarket's previous quarterly dividend of $2.50. The ex-dividend date is Monday, March 17th. This represents a $11.00 annualized dividend and a yield of 1.99%. NewMarket's 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 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.