401 Shares in NewMarket Co. (NYSE:NEU) Bought by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC bought a new position in shares of NewMarket Co. (NYSE:NEU) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 401 shares of the specialty chemicals company’s stock, valued at approximately $212,000.

Several other institutional investors and hedge funds have also bought and sold shares of NEU. Norges Bank bought a new position in NewMarket during the fourth quarter worth $41,268,000. American Century Companies Inc. lifted its stake in shares of NewMarket by 147.2% in the fourth quarter. American Century Companies Inc. now owns 47,717 shares of the specialty chemicals company’s stock valued at $25,211,000 after buying an additional 28,417 shares in the last quarter. Proficio Capital Partners LLC bought a new position in shares of NewMarket in the fourth quarter valued at $8,933,000. Bank of New York Mellon Corp lifted its stake in shares of NewMarket by 20.6% in the fourth quarter. Bank of New York Mellon Corp now owns 91,875 shares of the specialty chemicals company’s stock valued at $48,542,000 after buying an additional 15,694 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in shares of NewMarket by 23.8% in the fourth quarter. Northern Trust Corp now owns 80,156 shares of the specialty chemicals company’s stock valued at $42,350,000 after buying an additional 15,424 shares in the last quarter. 61.09% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

NewMarket Stock Up 0.8%

NewMarket stock opened at $651.15 on Friday. NewMarket Co. has a 1-year low of $480.00 and a 1-year high of $652.48. The firm has a market capitalization of $6.14 billion, a price-to-earnings ratio of 13.51 and a beta of 0.41. The firm’s fifty day moving average price is $574.56 and its two-hundred day moving average price is $545.48. The company has a current ratio of 2.75, a quick ratio of 1.40 and a debt-to-equity ratio of 0.66.

NewMarket (NYSE:NEU) last released its quarterly earnings data on Wednesday, April 23rd. The specialty chemicals company reported $13.26 earnings per share for the quarter. NewMarket had a net margin of 16.59% and a return on equity of 35.48%. The firm had revenue of $700.95 million for the quarter.

NewMarket Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 16th will be issued a $2.75 dividend. The ex-dividend date is Monday, June 16th. This represents a $11.00 annualized dividend and a dividend yield of 1.69%. NewMarket’s dividend payout ratio is currently 21.89%.

Insider Activity

In other news, CAO Bruce R. Hazelgrove III sold 311 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $642.43, for a total value of $199,795.73. Following the completion of the sale, the chief accounting officer now owns 358 shares in the company, valued at $229,989.94. This represents a 46.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 19.10% of the stock is currently owned by corporate insiders.

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.