Gabelli Funds LLC Lowers Position in NewMarket Co. (NYSE:NEU)

Gabelli Funds LLC trimmed its holdings in shares of NewMarket Co. (NYSE:NEUFree Report) by 2.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,400 shares of the specialty chemicals company’s stock after selling 200 shares during the quarter. Gabelli Funds LLC owned about 0.08% of NewMarket worth $4,039,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in shares of NewMarket by 5.9% during the third quarter. Vanguard Group Inc. now owns 717,923 shares of the specialty chemicals company’s stock worth $326,684,000 after purchasing an additional 40,028 shares in the last quarter. London Co. of Virginia increased its holdings in shares of 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 buying an additional 1,796 shares during the last quarter. LSV Asset Management raised its position in shares of NewMarket by 10.4% during the 4th quarter. LSV Asset Management now owns 253,506 shares of the specialty chemicals company’s stock valued at $138,371,000 after buying an additional 23,938 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of NewMarket by 1.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 146,589 shares of the specialty chemicals company’s stock worth $80,015,000 after acquiring an additional 1,958 shares during the last quarter. Finally, Invesco Ltd. grew its position in NewMarket by 41.2% in the third quarter. Invesco Ltd. now owns 105,136 shares of the specialty chemicals company’s stock worth $47,841,000 after acquiring an additional 30,694 shares in the last quarter. 61.09% of the stock is currently owned by institutional investors.

NewMarket Stock Performance

NYSE:NEU opened at $535.60 on Friday. NewMarket Co. has a 1-year low of $396.07 and a 1-year high of $650.00. The company has a debt-to-equity ratio of 1.11, a current ratio of 2.86 and a quick ratio of 1.60. The business has a 50 day moving average of $564.95 and a 200 day moving average of $575.44. The company has a market capitalization of $5.14 billion, a price-to-earnings ratio of 12.88 and a beta of 0.48.

NewMarket (NYSE:NEUGet Free Report) last announced its quarterly earnings data on Wednesday, April 24th. The specialty chemicals company reported $11.23 earnings per share for the quarter. The firm 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 business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders 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 1.87%. The ex-dividend date of this dividend is Friday, June 14th. NewMarket’s dividend payout ratio (DPR) is presently 24.06%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded NewMarket from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 1st.

Read Our Latest Stock Analysis on NewMarket

NewMarket Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for NewMarket (NYSE:NEU)

Receive News & Ratings for NewMarket Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NewMarket and related companies with MarketBeat.com's FREE daily email newsletter.