NewMarket Corporation $NEU Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB trimmed its position in shares of NewMarket Corporation (NYSE:NEU) by 8.3% in the second quarter, HoldingsChannel reports. The institutional investor owned 2,200 shares of the specialty chemicals company’s stock after selling 200 shares during the period. Handelsbanken Fonder AB’s holdings in NewMarket were worth $1,520,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Sequoia Financial Advisors LLC acquired a new stake in NewMarket during the second quarter worth about $331,000. Allianz Asset Management GmbH grew its holdings in shares of NewMarket by 15.1% during the 1st quarter. Allianz Asset Management GmbH now owns 3,993 shares of the specialty chemicals company’s stock worth $2,262,000 after purchasing an additional 523 shares during the period. AlphaQuest LLC grew its holdings in shares of NewMarket by 65,800.0% during the 2nd quarter. AlphaQuest LLC now owns 659 shares of the specialty chemicals company’s stock worth $455,000 after purchasing an additional 658 shares during the period. Prime Capital Investment Advisors LLC acquired a new stake in NewMarket during the 2nd quarter worth approximately $209,000. Finally, Dakota Wealth Management purchased a new position in NewMarket in the second quarter valued at approximately $490,000. 61.09% of the stock is owned by hedge funds and other institutional investors.

NewMarket Trading Down 0.1%

NEU opened at $765.63 on Thursday. The firm has a market capitalization of $7.19 billion, a P/E ratio of 15.18 and a beta of 0.46. The firm’s 50 day moving average is $786.33 and its 200-day moving average is $742.69. NewMarket Corporation has a 52-week low of $480.00 and a 52-week high of $875.97. The company has a quick ratio of 1.43, a current ratio of 2.66 and a debt-to-equity ratio of 0.52.

NewMarket (NYSE:NEU) last announced its earnings results on Thursday, October 30th. The specialty chemicals company reported $10.67 earnings per share for the quarter. The business had revenue of $690.31 million during the quarter. NewMarket had a net margin of 17.28% and a return on equity of 32.25%.

NewMarket Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 15th will be paid a dividend of $3.00 per share. This is a boost from NewMarket’s previous quarterly dividend of $2.75. This represents a $12.00 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Monday, December 15th. NewMarket’s payout ratio is 25.35%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on NEU shares. Wall Street Zen downgraded shares of NewMarket from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th. Weiss Ratings restated a “buy (b)” rating on shares of NewMarket in a report on Monday. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, NewMarket has a consensus rating of “Buy”.

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.