1,284 Shares in NewMarket Co. (NYSE:NEU) Acquired by Point72 Asset Management L.P.

Point72 Asset Management L.P. bought a new position in NewMarket Co. (NYSE:NEU) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,284 shares of the specialty chemicals company’s stock, valued at approximately $678,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Assetmark Inc. boosted its stake in NewMarket by 0.6% in the fourth quarter. Assetmark Inc. now owns 3,118 shares of the specialty chemicals company’s stock worth $1,647,000 after buying an additional 20 shares in the last quarter. Atria Investments Inc boosted its stake in NewMarket by 1.6% in the fourth quarter. Atria Investments Inc now owns 1,302 shares of the specialty chemicals company’s stock worth $688,000 after buying an additional 20 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its stake in NewMarket by 1.7% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,561 shares of the specialty chemicals company’s stock worth $825,000 after buying an additional 26 shares in the last quarter. Parallel Advisors LLC boosted its stake in NewMarket by 4.3% in the fourth quarter. Parallel Advisors LLC now owns 735 shares of the specialty chemicals company’s stock worth $388,000 after buying an additional 30 shares in the last quarter. Finally, Bessemer Group Inc. boosted its stake in NewMarket by 166.7% in the fourth quarter. Bessemer Group Inc. now owns 48 shares of the specialty chemicals company’s stock worth $25,000 after buying an additional 30 shares in the last quarter. Hedge funds and other institutional investors own 61.09% of the company’s stock.

NewMarket Price Performance

Shares of NewMarket stock opened at $646.39 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.75 and a quick ratio of 1.40. The business’s 50 day simple moving average is $584.44 and its two-hundred day simple moving average is $548.69. The stock has a market capitalization of $6.10 billion, a P/E ratio of 13.41 and a beta of 0.41. NewMarket Co. has a one year low of $480.00 and a one year high of $653.71.

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

NewMarket Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 16th will be paid a $2.75 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $11.00 dividend on an annualized basis and a yield of 1.70%. NewMarket’s dividend payout ratio (DPR) is currently 21.89%.

Insiders Place Their Bets

In other news, CAO Bruce R. Hazelgrove III sold 311 shares of the business’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $642.43, for a total transaction of $199,795.73. Following the transaction, the chief accounting officer now directly owns 358 shares of the company’s stock, valued at approximately $229,989.94. The trade was a 46.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 19.10% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered NewMarket from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 19th.

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.