NewMarket Co. (NYSE:NEU) Shares Sold by Stifel Financial Corp

Stifel Financial Corp trimmed its holdings in shares of NewMarket Co. (NYSE:NEU) by 2.1% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,480 shares of the specialty chemicals company’s stock after selling 52 shares during the period. Stifel Financial Corp’s holdings in NewMarket were worth $1,310,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in NEU. Norges Bank purchased a new stake in NewMarket in the 4th quarter worth $41,268,000. American Century Companies Inc. increased its stake in shares of NewMarket by 147.2% during the fourth quarter. American Century Companies Inc. now owns 47,717 shares of the specialty chemicals company’s stock worth $25,211,000 after purchasing an additional 28,417 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in shares of NewMarket during the 4th quarter worth about $8,933,000. Bank of New York Mellon Corp lifted its stake in NewMarket by 20.6% in the 4th 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, DAVENPORT & Co LLC boosted its holdings in NewMarket by 29.2% in the 4th quarter. DAVENPORT & Co LLC now owns 66,879 shares of the specialty chemicals company’s stock worth $35,545,000 after buying an additional 15,129 shares during the last quarter. Hedge funds and other institutional investors own 61.09% of the company’s stock.

Wall Street Analyst Weigh In

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

NewMarket Trading Up 0.2 %

Shares of NEU stock opened at $630.36 on Thursday. NewMarket Co. has a fifty-two week low of $480.00 and a fifty-two week high of $637.16. The firm has a market capitalization of $5.95 billion, a P/E ratio of 13.08 and a beta of 0.41. The stock’s fifty day moving average is $562.57 and its two-hundred day moving average is $540.16. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.40 and a current ratio of 2.75.

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

NewMarket Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors 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 1.75%. NewMarket’s dividend payout ratio is presently 21.89%.

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.