Martingale Asset Management L P Has $12.49 Million Stock Holdings in NewMarket Co. (NYSE:NEU)

Martingale Asset Management L P lessened its position in shares of NewMarket Co. (NYSE:NEU) by 17.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,638 shares of the specialty chemicals company’s stock after selling 4,632 shares during the quarter. Martingale Asset Management L P owned about 0.24% of NewMarket worth $12,494,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Great Valley Advisor Group Inc. lifted its stake in shares of NewMarket by 31.9% during the second quarter. Great Valley Advisor Group Inc. now owns 4,367 shares of the specialty chemicals company’s stock valued at $2,251,000 after acquiring an additional 1,056 shares during the period. Natixis Advisors LLC lifted its stake in NewMarket by 19.4% in the third quarter. Natixis Advisors LLC now owns 17,254 shares of the specialty chemicals company’s stock valued at $9,522,000 after buying an additional 2,807 shares during the period. Edgestream Partners L.P. acquired a new position in NewMarket in the second quarter valued at about $486,000. Van ECK Associates Corp lifted its stake in NewMarket by 40.0% in the third quarter. Van ECK Associates Corp now owns 5,119 shares of the specialty chemicals company’s stock valued at $2,655,000 after buying an additional 1,463 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in NewMarket by 8.2% in the second quarter. Dimensional Fund Advisors LP now owns 159,467 shares of the specialty chemicals company’s stock valued at $82,214,000 after buying an additional 12,110 shares during the period. Institutional investors and hedge funds own 61.09% of the company’s stock.

Wall Street Analyst Weigh In

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

NewMarket Stock Down 1.6 %

Shares of NewMarket stock opened at $532.41 on Friday. NewMarket Co. has a 1 year low of $494.04 and a 1 year high of $650.00. The business has a 50-day moving average of $538.24 and a two-hundred day moving average of $540.99. The company has a market capitalization of $5.11 billion, a P/E ratio of 11.82 and a beta of 0.50. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.83 and a quick ratio of 1.50.

NewMarket (NYSE:NEU) last announced its quarterly earnings results on Wednesday, October 23rd. The specialty chemicals company reported $13.79 earnings per share (EPS) for the quarter. NewMarket had a return on equity of 35.79% and a net margin of 15.57%. The company had revenue of $724.95 million during the quarter.

NewMarket Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 16th will be issued a $2.50 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $10.00 annualized dividend and a dividend yield of 1.88%. NewMarket’s dividend payout ratio (DPR) is currently 22.21%.

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.