First Trust Advisors LP Reduces Stock Position in NewMarket Corporation $NEU

First Trust Advisors LP lessened its holdings in NewMarket Corporation (NYSE:NEU) by 15.3% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 77,148 shares of the specialty chemicals company’s stock after selling 13,914 shares during the quarter. First Trust Advisors LP’s holdings in NewMarket were worth $63,895,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Winnow Wealth LLC bought a new stake in shares of NewMarket during the third quarter worth $29,000. Root Financial Partners LLC bought a new position in shares of NewMarket in the third quarter worth about $30,000. Smartleaf Asset Management LLC grew its holdings in shares of NewMarket by 125.0% in the third quarter. Smartleaf Asset Management LLC now owns 45 shares of the specialty chemicals company’s stock worth $37,000 after purchasing an additional 25 shares during the last quarter. Quent Capital LLC purchased a new position in NewMarket in the 3rd quarter worth about $43,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in NewMarket by 100.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78 shares of the specialty chemicals company’s stock valued at $44,000 after buying an additional 39 shares in the last quarter. Hedge funds and other institutional investors own 61.09% of the company’s stock.

NewMarket Trading Up 0.2%

Shares of NYSE NEU opened at $622.18 on Wednesday. NewMarket Corporation has a twelve month low of $510.07 and a twelve month high of $875.97. The firm has a market cap of $5.85 billion, a PE ratio of 14.01 and a beta of 0.50. The business has a fifty day simple moving average of $658.75 and a two-hundred day simple moving average of $738.09. The company has a quick ratio of 1.33, a current ratio of 2.53 and a debt-to-equity ratio of 0.50.

NewMarket (NYSE:NEU) last posted its quarterly earnings results on Wednesday, February 11th. The specialty chemicals company reported $8.65 earnings per share (EPS) for the quarter. The business had revenue of $635.40 million for the quarter. NewMarket had a return on equity of 25.38% and a net margin of 15.37%.

NewMarket Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 16th will be issued a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 1.9%. The ex-dividend date is Monday, March 16th. NewMarket’s dividend payout ratio is presently 27.01%.

Insider Transactions at NewMarket

In other NewMarket news, Director Ting Xu bought 400 shares of the business’s stock in a transaction on Tuesday, February 24th. The shares were acquired at an average price of $619.21 per share, with a total value of $247,684.00. Following the transaction, the director owned 929 shares of the company’s stock, valued at approximately $575,246.09. This trade represents a 75.61% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 19.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised shares of NewMarket from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 2nd. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, NewMarket currently has a consensus rating of “Buy”.

NewMarket Company Profile

NewMarket Corporation is a specialty chemicals and lubricants company headquartered in Richmond, Virginia. Through its Valvoline business, the company markets a broad portfolio of automotive aftermarket products, including engine oils, transmission fluids, greases and vehicle care solutions. Valvoline products are distributed through retail and commercial channels as well as a network of quick-lube service centers that provide oil changes, preventive maintenance and related services.

In its chemical additives segment, NewMarket develops, manufactures and sells performance additives for fuels, lubricants and industrial fluids.