Martingale Asset Management L P Sells 4,632 Shares of NewMarket Co. (NYSE:NEU)

Martingale Asset Management L P cut its position in shares of NewMarket Co. (NYSE:NEU) by 17.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 22,638 shares of the specialty chemicals company’s stock after selling 4,632 shares during the quarter. Martingale Asset Management L P’s holdings in NewMarket were worth $12,494,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of NEU. Pacer Advisors Inc. grew its holdings 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 worth $102,211,000 after buying an additional 77,908 shares in the last quarter. International Assets Investment Management LLC grew its stake in NewMarket by 55,089.7% in the third quarter. International Assets Investment Management LLC now owns 21,524 shares of the specialty chemicals company’s stock valued at $11,879,000 after purchasing an additional 21,485 shares in the last quarter. Millennium Management LLC grew its stake in NewMarket by 5,480.4% in the second quarter. Millennium Management LLC now owns 18,192 shares of the specialty chemicals company’s stock valued at $9,379,000 after purchasing an additional 17,866 shares in the last quarter. Los Angeles Capital Management LLC grew its stake in NewMarket by 170.7% in 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 purchasing an additional 14,902 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in NewMarket by 8.2% in 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 purchasing an additional 12,110 shares in the last quarter. 61.09% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

NewMarket Stock Down 1.6 %

NEU stock opened at $532.41 on Friday. The company has a quick ratio of 1.50, a current ratio of 2.83 and a debt-to-equity ratio of 0.80. The business has a 50 day moving average price of $538.24 and a two-hundred day moving average price of $540.99. The company has a market cap of $5.11 billion, a price-to-earnings ratio of 11.82 and a beta of 0.50. NewMarket Co. has a twelve month low of $494.04 and a twelve month high of $650.00.

NewMarket (NYSE:NEU) last posted its quarterly earnings results on Wednesday, October 23rd. The specialty chemicals company reported $13.79 earnings per share for the quarter. NewMarket had a return on equity of 35.79% and a net margin of 15.57%. The firm had revenue of $724.95 million during the quarter.

NewMarket Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 16th will be given a $2.50 dividend. The ex-dividend date is Monday, December 16th. This represents a $10.00 dividend on an annualized basis and a dividend yield of 1.88%. NewMarket’s payout ratio is 22.21%.

NewMarket Company 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.