Millennium Management LLC Acquires 17,866 Shares of NewMarket Co. (NYSE:NEU)

Millennium Management LLC increased its position in shares of NewMarket Co. (NYSE:NEU - Free Report) by 5,480.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,192 shares of the specialty chemicals company's stock after acquiring an additional 17,866 shares during the quarter. Millennium Management LLC owned about 0.19% of NewMarket worth $9,379,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of NEU. Alaska Permanent Fund Corp lifted its holdings in NewMarket by 142.6% during the first quarter. Alaska Permanent Fund Corp now owns 17,320 shares of the specialty chemicals company's stock worth $10,992,000 after acquiring an additional 10,182 shares in the last quarter. Virtu Financial LLC acquired a new position in NewMarket in the fourth quarter valued at about $957,000. Great Valley Advisor Group Inc. grew its stake in NewMarket by 31.9% in the second quarter. Great Valley Advisor Group Inc. now owns 4,367 shares of the specialty chemicals company's stock valued at $2,251,000 after acquiring an additional 1,056 shares during the period. Lazard Asset Management LLC grew its stake in NewMarket by 102.6% in 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 acquiring an additional 18,413 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new position in NewMarket in the first quarter valued at about $2,040,000. Institutional investors and hedge funds own 61.09% of the company's stock.

Insider Activity at NewMarket

In other NewMarket news, CAO Bruce R. Hazelgrove III sold 1,270 shares of the business's stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $544.31, for a total transaction of $691,273.70. Following the sale, the chief accounting officer now directly owns 358 shares of the company's stock, valued at $194,862.98. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 20.40% of the stock is owned by insiders.

Wall Street Analyst Weigh In

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

NewMarket Stock Up 0.3 %

Shares of NEU traded up $1.75 during midday trading on Wednesday, hitting $524.78. The stock had a trading volume of 40,761 shares, compared to its average volume of 37,265. 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 firm has a market cap of $5.03 billion, a price-to-earnings ratio of 12.62 and a beta of 0.49. The company has a 50 day simple moving average of $550.32 and a two-hundred day simple moving average of $553.23. NewMarket Co. has a twelve month low of $436.90 and a twelve month high of $650.00.

NewMarket (NYSE:NEU - Get Free Report) last announced 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 business had revenue of $710.23 million for the quarter.

NewMarket Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 16th were issued a dividend of $2.50 per share. This represents a $10.00 annualized dividend and a yield of 1.91%. The ex-dividend date of this dividend 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.