M&T Bank Corp Sells 161 Shares of NewMarket Co. (NYSE:NEU)

M&T Bank Corp reduced its position in shares of NewMarket Co. (NYSE:NEU) by 2.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,290 shares of the specialty chemicals company’s stock after selling 161 shares during the quarter. M&T Bank Corp owned 0.08% of NewMarket worth $3,979,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. FSC Wealth Advisors LLC purchased a new position in NewMarket during the fourth quarter valued at $39,000. Lindbrook Capital LLC boosted its position in NewMarket by 35.6% during the 4th quarter. Lindbrook Capital LLC now owns 80 shares of the specialty chemicals company’s stock valued at $44,000 after acquiring an additional 21 shares in the last quarter. GAMMA Investing LLC purchased a new stake in shares of NewMarket during the 4th quarter valued at $50,000. Hanseatic Management Services Inc. acquired a new stake in shares of NewMarket during the third quarter worth $41,000. Finally, Mitsubishi UFJ Trust & Banking Corp raised its position in NewMarket by 153.3% during the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 309 shares of the specialty chemicals company’s stock worth $141,000 after buying an additional 187 shares during the last quarter. Institutional investors own 61.09% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com cut shares of NewMarket from a “strong-buy” rating to a “buy” rating in a research note on Sunday, February 4th.

NewMarket Price Performance

NEU stock opened at $562.34 on Wednesday. The company has a quick ratio of 1.60, a current ratio of 2.86 and a debt-to-equity ratio of 1.11. The stock has a market cap of $5.39 billion, a price-to-earnings ratio of 13.53 and a beta of 0.51. The business has a fifty day moving average of $601.74 and a two-hundred day moving average of $567.01. NewMarket Co. has a 52-week low of $387.16 and a 52-week high of $650.00.

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

NewMarket Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be given a dividend of $2.50 per share. The ex-dividend date is Friday, June 14th. This represents a $10.00 dividend on an annualized basis and a yield of 1.78%. NewMarket’s payout ratio is currently 24.06%.

NewMarket 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.