Russell Investments Group Ltd. Sells 1,455 Shares of NewMarket Co. (NYSE:NEU)

Russell Investments Group Ltd. lessened its holdings in shares of NewMarket Co. (NYSE:NEU – Get Rating) by 19.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,164 shares of the specialty chemicals company’s stock after selling 1,455 shares during the quarter. Russell Investments Group Ltd. owned about 0.06% of NewMarket worth $1,914,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NEU. First Trust Advisors LP boosted its position in NewMarket by 23.9% during the first quarter. First Trust Advisors LP now owns 288,937 shares of the specialty chemicals company’s stock worth $93,725,000 after purchasing an additional 55,691 shares during the period. Victory Capital Management Inc. boosted its position in NewMarket by 915.9% during the third quarter. Victory Capital Management Inc. now owns 15,807 shares of the specialty chemicals company’s stock worth $4,755,000 after purchasing an additional 14,251 shares during the period. Allspring Global Investments Holdings LLC boosted its position in NewMarket by 3.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 361,603 shares of the specialty chemicals company’s stock worth $112,498,000 after purchasing an additional 12,444 shares during the period. RK Asset Management LLC bought a new position in shares of NewMarket in the fourth quarter valued at approximately $3,661,000. Finally, Algert Global LLC bought a new position in shares of NewMarket in the third quarter valued at approximately $2,618,000. Institutional investors own 58.48% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of NewMarket from a “strong-buy” rating to a “buy” rating in a research report on Saturday.

NewMarket Price Performance

NEU stock opened at $397.90 on Tuesday. The firm has a 50 day moving average of $372.16 and a 200-day moving average of $343.76. The company has a current ratio of 3.16, a quick ratio of 1.58 and a debt-to-equity ratio of 1.17. NewMarket Co. has a 12 month low of $280.28 and a 12 month high of $404.60. The firm has a market capitalization of $3.83 billion, a P/E ratio of 12.35 and a beta of 0.37.

NewMarket Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 3rd. Stockholders of record on Thursday, June 15th will be given a $2.25 dividend. This is a positive change from NewMarket’s previous quarterly dividend of $2.10. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date of this dividend is Wednesday, June 14th. NewMarket’s dividend payout ratio (DPR) is 26.08%.

About NewMarket

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NewMarket Corp. operates as a holding company. The firm’s segment include petroleum additives. Petroleum additives are used in lubricating oils and fuels to enhance their performance in machinery, vehicles, and other equipment. It manages properties owned in Virginia and provides various administrative services.