Van ECK Associates Corp Sells 740 Shares of NewMarket Corporation $NEU

Van ECK Associates Corp cut its holdings in NewMarket Corporation (NYSE:NEU) by 9.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,735 shares of the specialty chemicals company’s stock after selling 740 shares during the period. Van ECK Associates Corp’s holdings in NewMarket were worth $5,329,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in NEU. Strs Ohio grew its holdings in NewMarket by 12.7% during the 1st quarter. Strs Ohio now owns 151 shares of the specialty chemicals company’s stock valued at $97,000 after buying an additional 17 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of NewMarket by 0.3% in the first quarter. The Manufacturers Life Insurance Company now owns 5,253 shares of the specialty chemicals company’s stock worth $3,367,000 after buying an additional 17 shares in the last quarter. Kesler Norman & Wride LLC lifted its holdings in shares of NewMarket by 1.6% in the first quarter. Kesler Norman & Wride LLC now owns 1,227 shares of the specialty chemicals company’s stock worth $786,000 after buying an additional 19 shares in the last quarter. Great Lakes Advisors LLC boosted its position in shares of NewMarket by 5.5% during the fourth quarter. Great Lakes Advisors LLC now owns 366 shares of the specialty chemicals company’s stock worth $252,000 after acquiring an additional 19 shares during the last quarter. Finally, Abel Hall LLC boosted its position in shares of NewMarket by 6.3% during the fourth quarter. Abel Hall LLC now owns 335 shares of the specialty chemicals company’s stock worth $230,000 after acquiring an additional 20 shares during the last quarter. 61.09% of the stock is currently owned by institutional investors.

NewMarket Stock Up 0.9%

Shares of NEU opened at $911.16 on Thursday. The stock has a market capitalization of $8.38 billion, a price-to-earnings ratio of 19.60 and a beta of 0.55. NewMarket Corporation has a 1 year low of $580.03 and a 1 year high of $981.66. The business’s 50 day simple moving average is $845.70 and its 200-day simple moving average is $739.08. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.25 and a quick ratio of 1.23.

NewMarket (NYSE:NEU) last posted its earnings results on Wednesday, July 29th. The specialty chemicals company reported $14.54 earnings per share for the quarter. NewMarket had a net margin of 15.80% and a return on equity of 24.62%. The firm had revenue of $747.09 million during the quarter.

NewMarket Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be given a dividend of $3.00 per share. The ex-dividend date is Tuesday, September 15th. This represents a $12.00 annualized dividend and a yield of 1.3%. NewMarket’s dividend payout ratio (DPR) is 25.82%.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Weiss Ratings upgraded shares of NewMarket from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, June 12th. Wall Street Zen raised shares of NewMarket from a “hold” rating to a “buy” rating in a report on Saturday, August 1st. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock 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.