Taylor Hoffman Wealth Management Lowers Stock Position in NewMarket Co. (NYSE:NEU)

Taylor Hoffman Wealth Management lessened its stake in shares of NewMarket Co. (NYSE:NEU) by 6.1% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 2,457 shares of the specialty chemicals company’s stock after selling 160 shares during the quarter. Taylor Hoffman Wealth Management’s holdings in NewMarket were worth $985,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Dimensional Fund Advisors LP raised its holdings in NewMarket by 5.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 95,846 shares of the specialty chemicals company’s stock valued at $39,495,000 after acquiring an additional 4,644 shares in the last quarter. Geode Capital Management LLC raised its holdings in NewMarket by 7.1% in the fourth quarter. Geode Capital Management LLC now owns 83,419 shares of the specialty chemicals company’s stock valued at $34,376,000 after acquiring an additional 5,552 shares in the last quarter. WINTON GROUP Ltd raised its holdings in NewMarket by 10.1% in the second quarter. WINTON GROUP Ltd now owns 59,603 shares of the specialty chemicals company’s stock valued at $23,897,000 after acquiring an additional 5,461 shares in the last quarter. Ellis Investment Partners LLC acquired a new stake in NewMarket in the first quarter valued at approximately $46,000. Finally, Rhumbline Advisers raised its holdings in NewMarket by 1.9% in the first quarter. Rhumbline Advisers now owns 27,230 shares of the specialty chemicals company’s stock valued at $11,806,000 after acquiring an additional 501 shares in the last quarter. 57.03% of the stock is owned by institutional investors.

NYSE:NEU traded down $2.92 during mid-day trading on Monday, hitting $468.88. The stock had a trading volume of 2,403 shares, compared to its average volume of 112,010. The stock has a 50-day simple moving average of $424.90 and a two-hundred day simple moving average of $422.46. The company has a market capitalization of $5.18 billion, a PE ratio of 23.33 and a beta of 0.52. NewMarket Co. has a twelve month low of $352.89 and a twelve month high of $472.17. The company has a current ratio of 2.93, a quick ratio of 1.60 and a debt-to-equity ratio of 1.22.

NewMarket (NYSE:NEU) last issued its earnings results on Wednesday, July 31st. The specialty chemicals company reported $6.63 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $5.16 by $1.47. The firm had revenue of $563.42 million for the quarter. NewMarket had a net margin of 11.70% and a return on equity of 47.25%. Sell-side analysts predict that NewMarket Co. will post 23.63 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 16th will be issued a dividend of $1.90 per share. The ex-dividend date is Friday, September 13th. This represents a $7.60 dividend on an annualized basis and a yield of 1.62%. This is a boost from NewMarket’s previous quarterly dividend of $1.75. NewMarket’s dividend payout ratio (DPR) is presently 34.41%.

Several analysts recently weighed in on NEU shares. Zacks Investment Research raised shares of NewMarket from a “hold” rating to a “strong-buy” rating and set a $512.00 target price on the stock in a report on Friday, August 9th. Buckingham Research raised shares of NewMarket from an “underperform” rating to a “neutral” rating and set a $420.00 target price on the stock in a report on Friday, August 2nd.

About NewMarket

NewMarket Corporation, through its subsidiaries, engages in the petroleum additives businesses. 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, metalworking fluids, and 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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