NewMarket Co. (NYSE:NEU) Shares Sold by Covestor Ltd

Covestor Ltd lowered its stake in shares of NewMarket Co. (NYSE:NEU) by 20.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 203 shares of the specialty chemicals company’s stock after selling 53 shares during the period. Covestor Ltd’s holdings in NewMarket were worth $112,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of NEU. Headlands Technologies LLC acquired a new stake in NewMarket in the 2nd quarter valued at approximately $33,000. Quest Partners LLC purchased a new stake in shares of NewMarket during the 2nd quarter worth approximately $38,000. Blue Trust Inc. lifted its position in NewMarket by 590.9% in the third quarter. Blue Trust Inc. now owns 76 shares of the specialty chemicals company’s stock valued at $39,000 after acquiring an additional 65 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in shares of NewMarket in the 2nd quarter valued at about $54,000. Finally, nVerses Capital LLC purchased a new position in NewMarket during the 2nd quarter worth approximately $103,000. 61.09% of the stock is currently owned by institutional investors and hedge funds.

NewMarket Stock Down 0.9 %

Shares of NYSE:NEU opened at $553.08 on Wednesday. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.83 and a quick ratio of 1.50. The stock has a market cap of $5.31 billion, a P/E ratio of 12.28 and a beta of 0.50. NewMarket Co. has a 1-year low of $494.04 and a 1-year high of $650.00. The firm has a fifty day moving average price of $541.57 and a 200 day moving average price of $541.45.

NewMarket (NYSE:NEU) last issued its quarterly earnings results on Wednesday, October 23rd. The specialty chemicals company reported $13.79 earnings per share (EPS) 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 for the quarter.

NewMarket Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 16th will be issued a dividend of $2.50 per share. This represents a $10.00 annualized dividend and a dividend yield of 1.81%. The ex-dividend date is Monday, December 16th. NewMarket’s dividend payout ratio is presently 22.21%.

Analyst Ratings Changes

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

NewMarket 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.