Cove Street Capital LLC Sells 2,208 Shares of NewMarket Co. (NYSE:NEU)

Cove Street Capital LLC trimmed its position in shares of NewMarket Co. (NYSE:NEU) by 38.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,530 shares of the specialty chemicals company’s stock after selling 2,208 shares during the quarter. NewMarket makes up 2.2% of Cove Street Capital LLC’s holdings, making the stock its 19th biggest holding. Cove Street Capital LLC’s holdings in NewMarket were worth $1,865,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Pictet Asset Management Holding SA increased its stake in shares of NewMarket by 26.4% in the fourth quarter. Pictet Asset Management Holding SA now owns 1,150 shares of the specialty chemicals company’s stock valued at $608,000 after buying an additional 240 shares during the period. Norges Bank acquired a new stake in NewMarket during the fourth quarter worth approximately $41,268,000. JPMorgan Chase & Co. increased its holdings in NewMarket by 9.5% in the fourth quarter. JPMorgan Chase & Co. now owns 55,382 shares of the specialty chemicals company’s stock worth $29,261,000 after purchasing an additional 4,797 shares in the last quarter. WINTON GROUP Ltd bought a new position in shares of NewMarket during the 4th quarter worth approximately $3,164,000. Finally, Heritage Wealth Advisors grew its position in shares of NewMarket by 78.4% during the 4th quarter. Heritage Wealth Advisors now owns 1,340 shares of the specialty chemicals company’s stock worth $708,000 after buying an additional 589 shares during the period. 61.09% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of NewMarket from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 19th.

NewMarket Stock Down 1.1 %

NEU stock opened at $552.19 on Friday. The stock’s 50 day simple moving average is $532.52 and its 200 day simple moving average is $532.96. The company has a market cap of $5.24 billion, a P/E ratio of 11.45 and a beta of 0.41. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.40 and a current ratio of 2.75. NewMarket Co. has a fifty-two week low of $480.00 and a fifty-two week high of $637.40.

NewMarket (NYSE:NEU) last issued its earnings results on Monday, February 3rd. The specialty chemicals company reported $11.56 earnings per share for the quarter. NewMarket had a return on equity of 35.48% and a net margin of 16.59%.

NewMarket Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th will be given a dividend of $2.75 per share. The ex-dividend date is Monday, March 17th. This is an increase from NewMarket’s previous quarterly dividend of $2.50. This represents a $11.00 annualized dividend and a dividend yield of 1.99%. NewMarket’s payout ratio is presently 22.82%.

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.