Mackenzie Financial Corp Lowers Holdings in NewMarket Co. (NYSE:NEU)

Mackenzie Financial Corp decreased its position in NewMarket Co. (NYSE:NEU - Free Report) by 97.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 506 shares of the specialty chemicals company's stock after selling 16,317 shares during the quarter. Mackenzie Financial Corp's holdings in NewMarket were worth $261,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of NEU. Pacer Advisors Inc. increased its stake in shares of NewMarket by 64.7% during the second quarter. Pacer Advisors Inc. now owns 198,249 shares of the specialty chemicals company's stock valued at $102,211,000 after buying an additional 77,908 shares during the period. Lazard Asset Management LLC increased its stake in shares of NewMarket by 102.6% during the first quarter. Lazard Asset Management LLC now owns 36,368 shares of the specialty chemicals company's stock valued at $23,079,000 after buying an additional 18,413 shares during the period. Millennium Management LLC increased its stake in shares of NewMarket by 5,480.4% during the second quarter. Millennium Management LLC now owns 18,192 shares of the specialty chemicals company's stock valued at $9,379,000 after buying an additional 17,866 shares during the period. Los Angeles Capital Management LLC increased its stake in shares of NewMarket by 170.7% during the second quarter. Los Angeles Capital Management LLC now owns 23,633 shares of the specialty chemicals company's stock valued at $12,184,000 after buying an additional 14,902 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of NewMarket by 8.2% during the second quarter. Dimensional Fund Advisors LP now owns 159,467 shares of the specialty chemicals company's stock valued at $82,214,000 after buying an additional 12,110 shares during the period. 61.09% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CAO Bruce R. Hazelgrove III sold 1,270 shares of the firm's stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $544.31, for a total value of $691,273.70. Following the completion of the sale, the chief accounting officer now directly owns 358 shares of the company's stock, valued at $194,862.98. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 20.40% of the company's stock.

Analyst Ratings Changes

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

NewMarket Stock Performance

NewMarket stock traded down $7.18 during mid-day trading on Monday, reaching $522.11. 21,086 shares of the stock traded hands, compared to its average volume of 37,227. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.66 and a quick ratio of 1.48. The business's 50-day moving average is $552.61 and its 200-day moving average is $554.89. The stock has a market capitalization of $5.01 billion, a PE ratio of 12.54 and a beta of 0.49. NewMarket Co. has a 12-month low of $436.90 and a 12-month high of $650.00.

NewMarket (NYSE:NEU - Get Free Report) last released its earnings results on Monday, July 29th. The specialty chemicals company reported $11.63 earnings per share (EPS) for the quarter. NewMarket had a return on equity of 37.06% and a net margin of 15.12%. The firm had revenue of $710.23 million during the quarter.

NewMarket Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 16th were paid a $2.50 dividend. This represents a $10.00 annualized dividend and a dividend yield of 1.92%. The ex-dividend date was Monday, September 16th. NewMarket's payout ratio is 24.06%.

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.