NewMarket Co. (NEU) Position Cut by Eagle Asset Management Inc.

Eagle Asset Management Inc. decreased its position in NewMarket Co. (NYSE:NEU) by 73.1% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 4,439 shares of the specialty chemicals company’s stock after selling 12,087 shares during the period. Eagle Asset Management Inc.’s holdings in NewMarket were worth $1,800,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Janus Henderson Group PLC lifted its holdings in NewMarket by 28.6% in the second quarter. Janus Henderson Group PLC now owns 282,698 shares of the specialty chemicals company’s stock valued at $114,351,000 after buying an additional 62,897 shares during the period. Dimensional Fund Advisors LP lifted its holdings in NewMarket by 16.8% in the second quarter. Dimensional Fund Advisors LP now owns 85,794 shares of the specialty chemicals company’s stock valued at $34,702,000 after buying an additional 12,338 shares during the period. Schwab Charles Investment Management Inc. lifted its holdings in NewMarket by 11.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 56,130 shares of the specialty chemicals company’s stock valued at $22,705,000 after buying an additional 5,801 shares during the period. Burney Co. lifted its holdings in NewMarket by 12.8% in the second quarter. Burney Co. now owns 35,232 shares of the specialty chemicals company’s stock valued at $14,251,000 after buying an additional 4,004 shares during the period. Finally, WINTON GROUP Ltd lifted its holdings in NewMarket by 55.2% in the third quarter. WINTON GROUP Ltd now owns 27,110 shares of the specialty chemicals company’s stock valued at $10,993,000 after buying an additional 9,646 shares during the period. Institutional investors and hedge funds own 57.12% of the company’s stock.

NEU opened at $406.82 on Monday. NewMarket Co. has a 1-year low of $352.89 and a 1-year high of $437.63. The company has a quick ratio of 1.88, a current ratio of 3.28 and a debt-to-equity ratio of 1.45. The firm has a market capitalization of $4.64 billion, a price-to-earnings ratio of 22.80 and a beta of 0.66.

NewMarket (NYSE:NEU) last posted its quarterly earnings results on Wednesday, October 24th. The specialty chemicals company reported $5.12 earnings per share for the quarter, beating the consensus estimate of $4.94 by $0.18. NewMarket had a net margin of 7.61% and a return on equity of 34.96%. The firm had revenue of $563.17 million during the quarter.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Monday, December 17th will be paid a $1.75 dividend. This represents a $7.00 annualized dividend and a yield of 1.72%. The ex-dividend date is Friday, December 14th.

Separately, ValuEngine raised shares of NewMarket from a “sell” rating to a “hold” rating in a research note on Monday, August 20th.

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NewMarket Profile

NewMarket Corporation, through its subsidiaries, engages in the petroleum additives businesses. It offers lubricant additives for use in various vehicle and industrial applications, such as engine oils, transmission fluids, off-road powertrain and hydraulic systems, gear oils, hydraulic oils, turbine oils, metalworking fluids, and in other applications where metal-to-metal moving parts are utilized; and engine oil, driveline, and industrial additives.

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Institutional Ownership by Quarter for NewMarket (NYSE:NEU)

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