Prudential Financial Inc. Sells 4,399 Shares of NewMarket Co. (NYSE:NEU)

Prudential Financial Inc. cut its position in NewMarket Co. (NYSE:NEU - Free Report) by 89.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 540 shares of the specialty chemicals company's stock after selling 4,399 shares during the quarter. Prudential Financial Inc.'s holdings in NewMarket were worth $285,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. FMR LLC boosted its holdings in shares of NewMarket by 51.7% in the 3rd quarter. FMR LLC now owns 675 shares of the specialty chemicals company's stock valued at $372,000 after purchasing an additional 230 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of NewMarket by 115.7% in the third quarter. BNP Paribas Financial Markets now owns 1,415 shares of the specialty chemicals company's stock worth $781,000 after acquiring an additional 759 shares during the last quarter. HighTower Advisors LLC boosted its stake in shares of NewMarket by 7.7% in the 3rd quarter. HighTower Advisors LLC now owns 5,390 shares of the specialty chemicals company's stock valued at $2,997,000 after purchasing an additional 385 shares in the last quarter. Quantinno Capital Management LP lifted its stake in NewMarket by 3.0% in the 3rd quarter. Quantinno Capital Management LP now owns 1,675 shares of the specialty chemicals company's stock valued at $924,000 after purchasing an additional 48 shares during the last quarter. Finally, State Street Corp boosted its position in NewMarket by 4.1% in the third quarter. State Street Corp now owns 229,372 shares of the specialty chemicals company's stock valued at $127,132,000 after buying an additional 8,979 shares in the last quarter. Institutional investors and hedge funds own 61.09% of the company's stock.

Remove Ads

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded NewMarket from a "strong-buy" rating to a "buy" rating in a report on Wednesday, February 19th.

NewMarket Trading Up 0.2 %

Shares of NewMarket stock traded up $1.28 on Wednesday, hitting $563.13. The stock had a trading volume of 1,965 shares, compared to its average volume of 36,459. The stock has a 50 day moving average of $546.62 and a 200 day moving average of $532.76. The firm has a market capitalization of $5.34 billion, a P/E ratio of 11.70 and a beta of 0.44. NewMarket Co. has a twelve month low of $480.00 and a twelve month high of $596.89. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.40 and a current ratio of 2.75.

NewMarket (NYSE:NEU - Get Free Report) last announced 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 net margin of 16.59% and a return on equity of 35.48%.

NewMarket Increases Dividend

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

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.