NewMarket Co. (NYSE:NEU) Stock Position Decreased by Panagora Asset Management Inc.

Panagora Asset Management Inc. lessened its holdings in shares of NewMarket Co. (NYSE:NEU) by 93.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 653 shares of the specialty chemicals company’s stock after selling 9,601 shares during the quarter. Panagora Asset Management Inc.’s holdings in NewMarket were worth $356,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of NEU. London Co. of Virginia grew its position in NewMarket by 0.3% in the 3rd quarter. London Co. of Virginia now owns 664,683 shares of the specialty chemicals company’s stock worth $302,457,000 after purchasing an additional 1,796 shares during the last quarter. Inceptionr LLC acquired a new position in shares of NewMarket during the 4th quarter worth $821,000. International Assets Investment Management LLC grew its stake in NewMarket by 54,482.1% in the 4th quarter. International Assets Investment Management LLC now owns 21,287 shares of the specialty chemicals company’s stock valued at $11,619,000 after buying an additional 21,248 shares during the last quarter. Mackenzie Financial Corp grew its stake in NewMarket by 254.4% in the 4th quarter. Mackenzie Financial Corp now owns 7,571 shares of the specialty chemicals company’s stock valued at $4,132,000 after buying an additional 5,435 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in NewMarket by 41.2% in the 3rd quarter. Invesco Ltd. now owns 105,136 shares of the specialty chemicals company’s stock valued at $47,841,000 after purchasing an additional 30,694 shares during the period. Institutional investors own 61.09% of the company’s stock.

Analyst Upgrades and Downgrades

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

NewMarket Trading Up 0.1 %

Shares of NYSE NEU opened at $543.02 on Friday. NewMarket Co. has a 1-year low of $389.18 and a 1-year high of $650.00. The company has a market cap of $5.21 billion, a PE ratio of 13.06 and a beta of 0.51. The company has a current ratio of 2.86, a quick ratio of 1.60 and a debt-to-equity ratio of 1.11. The company has a 50-day moving average of $582.99 and a two-hundred day moving average of $573.19.

NewMarket (NYSE:NEU) last announced its earnings results on Wednesday, April 24th. The specialty chemicals company reported $11.23 earnings per share for the quarter. The company had revenue of $696.74 million during the quarter. NewMarket had a net margin of 14.82% and a return on equity of 38.99%.

NewMarket Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be paid a dividend of $2.50 per share. This represents a $10.00 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date of this dividend is Friday, June 14th. NewMarket’s dividend payout ratio (DPR) is 24.06%.

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.