NewMarket Co. (NYSE:NEU) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. cut its holdings in shares of NewMarket Co. (NYSE:NEU) by 0.8% in the 3rd quarter, Holdings Channel reports. The fund owned 2,394 shares of the specialty chemicals company’s stock after selling 20 shares during the period. PNC Financial Services Group Inc.’s holdings in NewMarket were worth $1,321,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in NEU. Price T Rowe Associates Inc. MD raised its position in shares of NewMarket by 5.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,574 shares of the specialty chemicals company’s stock valued at $2,269,000 after acquiring an additional 192 shares in the last quarter. Public Employees Retirement Association of Colorado bought a new position in NewMarket during the first quarter valued at about $399,000. Public Employees Retirement System of Ohio raised its holdings in shares of NewMarket by 3.7% in the 1st quarter. Public Employees Retirement System of Ohio now owns 2,821 shares of the specialty chemicals company’s stock worth $1,790,000 after purchasing an additional 100 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in NewMarket during the first quarter valued at approximately $239,000. Finally, SG Americas Securities LLC grew its holdings in shares of NewMarket by 23.5% in the 2nd quarter. SG Americas Securities LLC now owns 2,558 shares of the specialty chemicals company’s stock worth $1,319,000 after acquiring an additional 487 shares during the last quarter. 61.09% of the stock is owned by institutional investors and hedge funds.

NewMarket Trading Down 0.3 %

NewMarket stock opened at $540.97 on Thursday. The company’s fifty day simple moving average is $538.69 and its 200-day simple moving average is $541.18. The company has a quick ratio of 1.50, a current ratio of 2.83 and a debt-to-equity ratio of 0.80. NewMarket Co. has a 12 month low of $494.04 and a 12 month high of $650.00. The stock has a market cap of $5.19 billion, a P/E ratio of 12.01 and a beta of 0.50.

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

NewMarket Announces Dividend

The company also recently declared 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. This represents a $10.00 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date is Monday, December 16th. NewMarket’s dividend payout ratio is 22.21%.

Wall Street Analysts Forecast Growth

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

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.