Exchange Traded Concepts LLC Boosts Stock Holdings in NewMarket Co. (NYSE:NEU)

Exchange Traded Concepts LLC lifted its position in NewMarket Co. (NYSE:NEU) by 30.6% during the third quarter, Holdings Channel reports. The institutional investor owned 1,363 shares of the specialty chemicals company’s stock after buying an additional 319 shares during the quarter. Exchange Traded Concepts LLC’s holdings in NewMarket were worth $752,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Bank of Montreal Can lifted its stake in NewMarket by 4.7% during the 2nd quarter. Bank of Montreal Can now owns 739 shares of the specialty chemicals company’s stock valued at $399,000 after acquiring an additional 33 shares during the period. Arizona State Retirement System raised its position in NewMarket by 1.8% during the second quarter. Arizona State Retirement System now owns 2,013 shares of the specialty chemicals company’s stock worth $1,038,000 after acquiring an additional 36 shares during the period. EntryPoint Capital LLC raised its position in NewMarket by 29.6% during the first quarter. EntryPoint Capital LLC now owns 175 shares of the specialty chemicals company’s stock worth $111,000 after acquiring an additional 40 shares during the period. ORG Partners LLC purchased a new stake in shares of NewMarket during the first quarter worth $30,000. Finally, Park Avenue Securities LLC grew its holdings in shares of NewMarket by 4.0% during the first quarter. Park Avenue Securities LLC now owns 1,254 shares of the specialty chemicals company’s stock worth $796,000 after buying an additional 48 shares in the last quarter. Hedge funds and other institutional investors own 61.09% of the company’s stock.

Insider Activity at NewMarket

In related news, CAO Bruce R. Hazelgrove III sold 1,270 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $544.31, for a total value of $691,273.70. Following the completion of the sale, the chief accounting officer now owns 358 shares of the company’s stock, valued at approximately $194,862.98. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 20.40% of the stock is currently owned by insiders.

NewMarket Price Performance

NewMarket stock opened at $525.02 on Friday. NewMarket Co. has a 52-week low of $436.90 and a 52-week high of $650.00. The firm has a market capitalization of $5.04 billion, a price-to-earnings ratio of 12.63 and a beta of 0.49. The company has a fifty day simple moving average of $547.60 and a 200-day simple moving average of $548.68. The company has a quick ratio of 1.48, a current ratio of 2.66 and a debt-to-equity ratio of 0.95.

NewMarket (NYSE:NEU) last announced its quarterly earnings data on Monday, July 29th. The specialty chemicals company reported $11.63 earnings per share (EPS) for the quarter. NewMarket had a net margin of 15.12% and a return on equity of 37.06%. The firm had revenue of $710.23 million during the quarter.

NewMarket Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 16th were issued a $2.50 dividend. This represents a $10.00 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date was Monday, September 16th. NewMarket’s dividend payout ratio is currently 24.06%.

Wall Street Analyst Weigh In

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

About NewMarket

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.