Gallacher Capital Management LLC Has $660,000 Stake in NewMarket Co. (NYSE:NEU)

Gallacher Capital Management LLC lifted its position in NewMarket Co. (NYSE:NEU) by 234.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,279 shares of the specialty chemicals company’s stock after buying an additional 897 shares during the quarter. Gallacher Capital Management LLC’s holdings in NewMarket were worth $660,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. UMB Bank n.a. grew its position in NewMarket by 64.5% in the first quarter. UMB Bank n.a. now owns 51 shares of the specialty chemicals company’s stock worth $32,000 after acquiring an additional 20 shares in the last quarter. Arizona State Retirement System raised its holdings in shares of NewMarket by 1.8% during the 2nd quarter. Arizona State Retirement System now owns 2,013 shares of the specialty chemicals company’s stock valued at $1,038,000 after purchasing an additional 36 shares in the last quarter. EntryPoint Capital LLC lifted its stake in shares of NewMarket by 29.6% in the 1st quarter. EntryPoint Capital LLC now owns 175 shares of the specialty chemicals company’s stock valued at $111,000 after purchasing an additional 40 shares during the last quarter. Park Avenue Securities LLC boosted its holdings in NewMarket by 4.0% in the first quarter. Park Avenue Securities LLC now owns 1,254 shares of the specialty chemicals company’s stock worth $796,000 after purchasing an additional 48 shares in the last quarter. Finally, ORG Partners LLC acquired a new position in NewMarket during the first quarter worth $30,000. Institutional investors and hedge funds own 61.09% of the company’s stock.

Insider Buying and Selling

In other news, CAO Bruce R. Hazelgrove III sold 1,270 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $544.31, for a total transaction of $691,273.70. Following the completion of the transaction, the chief accounting officer now directly owns 358 shares in the company, valued at $194,862.98. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 20.40% of the stock is owned by insiders.

NewMarket Stock Down 0.9 %

Shares of NewMarket stock opened at $535.21 on Friday. NewMarket Co. has a 12-month low of $436.90 and a 12-month high of $650.00. The company has a quick ratio of 1.48, a current ratio of 2.66 and a debt-to-equity ratio of 0.95. The stock has a 50 day moving average price of $545.12 and a two-hundred day moving average price of $565.94. The stock has a market capitalization of $5.13 billion, a P/E ratio of 12.87 and a beta of 0.50.

NewMarket (NYSE:NEU) last posted its quarterly earnings data on Monday, July 29th. The specialty chemicals company reported $11.63 earnings per share (EPS) for the quarter. The business had revenue of $710.23 million during the quarter. NewMarket had a net margin of 15.12% and a return on equity of 37.06%.

NewMarket Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 16th will be paid a $2.50 dividend. The ex-dividend date is Monday, September 16th. This represents a $10.00 dividend on an annualized basis and a dividend yield of 1.87%. NewMarket’s payout ratio is presently 24.06%.

Analyst Ratings Changes

Separately, StockNews.com raised NewMarket from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 6th.

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.