Ethos Financial Group LLC Sells 192 Shares of NewMarket Corporation $NEU

Ethos Financial Group LLC trimmed its stake in NewMarket Corporation (NYSE:NEU) by 21.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 703 shares of the specialty chemicals company’s stock after selling 192 shares during the period. Ethos Financial Group LLC’s holdings in NewMarket were worth $487,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its stake in NewMarket by 3.0% in the second quarter. Bank of New York Mellon Corp now owns 92,886 shares of the specialty chemicals company’s stock valued at $64,171,000 after purchasing an additional 2,727 shares during the last quarter. Burney Co. boosted its holdings in shares of NewMarket by 64.0% in the 2nd quarter. Burney Co. now owns 3,919 shares of the specialty chemicals company’s stock valued at $2,707,000 after buying an additional 1,530 shares in the last quarter. Kesler Norman & Wride LLC purchased a new position in shares of NewMarket in the 2nd quarter worth approximately $802,000. Impact Partnership Wealth LLC purchased a new position in shares of NewMarket in the 2nd quarter worth approximately $290,000. Finally, Assetmark Inc. raised its stake in shares of NewMarket by 5.6% during the 2nd quarter. Assetmark Inc. now owns 3,498 shares of the specialty chemicals company’s stock worth $2,417,000 after acquiring an additional 187 shares in the last quarter. Institutional investors own 61.09% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. 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 reiterated a “buy (b+)” rating on shares of NewMarket in a report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy”.

NewMarket Stock Performance

Shares of NEU opened at $775.16 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.43 and a current ratio of 2.66. The stock has a 50-day moving average of $802.75 and a two-hundred day moving average of $728.13. The stock has a market cap of $7.28 billion, a P/E ratio of 15.36 and a beta of 0.46. NewMarket Corporation has a one year low of $480.00 and a one year high of $875.97.

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

NewMarket Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 15th will be paid a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 1.5%. The ex-dividend date is Monday, December 15th. This is a positive change from NewMarket’s previous quarterly dividend of $2.75. NewMarket’s dividend payout ratio (DPR) is presently 25.35%.

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.