Envestnet Asset Management Inc. Trims Stake in NewMarket Co. (NYSE:NEU)

Envestnet Asset Management Inc. cut its stake in shares of NewMarket Co. (NYSE:NEU) by 0.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 37,001 shares of the specialty chemicals company’s stock after selling 134 shares during the period. Envestnet Asset Management Inc. owned about 0.39% of NewMarket worth $19,549,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Barclays PLC grew its stake in shares of NewMarket by 34.5% during the 3rd quarter. Barclays PLC now owns 4,813 shares of the specialty chemicals company’s stock valued at $2,656,000 after acquiring an additional 1,235 shares during the period. Janney Montgomery Scott LLC purchased a new stake in shares of NewMarket in the fourth quarter worth $252,000. Empowered Funds LLC raised its position in shares of NewMarket by 61.3% during the 4th quarter. Empowered Funds LLC now owns 1,490 shares of the specialty chemicals company’s stock valued at $787,000 after purchasing an additional 566 shares during the period. Envestnet Portfolio Solutions Inc. boosted its holdings in NewMarket by 5.6% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 1,042 shares of the specialty chemicals company’s stock worth $550,000 after buying an additional 55 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in NewMarket by 1.4% during the third quarter. JPMorgan Chase & Co. now owns 50,585 shares of the specialty chemicals company’s stock valued at $27,917,000 after acquiring an additional 722 shares during the period. Institutional investors own 61.09% of the company’s stock.

Analyst Ratings Changes

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

NewMarket Price Performance

Shares of NYSE:NEU opened at $564.46 on Tuesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.40 and a current ratio of 2.75. The firm has a market cap of $5.35 billion, a price-to-earnings ratio of 11.71 and a beta of 0.44. The firm has a fifty day moving average price of $545.80 and a 200 day moving average price of $532.56. NewMarket Co. has a fifty-two week low of $480.00 and a fifty-two week high of $598.00.

NewMarket (NYSE:NEU) last issued its earnings results on Monday, February 3rd. The specialty chemicals company reported $11.56 earnings per share (EPS) for the quarter. NewMarket had a return on equity of 35.48% and a net margin of 16.59%.

NewMarket Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 17th were paid a $2.75 dividend. This is a boost from NewMarket’s previous quarterly dividend of $2.50. This represents a $11.00 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date of this dividend was Monday, March 17th. NewMarket’s dividend payout ratio (DPR) is presently 22.82%.

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.