Panagora Asset Management Inc. Has $212,000 Stock Position in NewMarket Co. (NYSE:NEU)

Panagora Asset Management Inc. cut its holdings in NewMarket Co. (NYSE:NEU) by 7.6% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 411 shares of the specialty chemicals company’s stock after selling 34 shares during the quarter. Panagora Asset Management Inc.’s holdings in NewMarket were worth $212,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. ORG Partners LLC acquired a new stake in shares of NewMarket in the 1st quarter valued at approximately $30,000. UMB Bank n.a. boosted 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 valued at $32,000 after buying an additional 20 shares in the last quarter. Janiczek Wealth Management LLC grew its stake in shares of NewMarket by 1,300.0% during the first quarter. Janiczek Wealth Management LLC now owns 56 shares of the specialty chemicals company’s stock worth $36,000 after buying an additional 52 shares during the last quarter. EntryPoint Capital LLC increased its holdings in shares of NewMarket by 29.6% during the first quarter. EntryPoint Capital LLC now owns 175 shares of the specialty chemicals company’s stock worth $111,000 after buying an additional 40 shares in the last quarter. Finally, Principal Securities Inc. bought a new position in shares of NewMarket in the 4th quarter valued at $124,000. Institutional investors own 61.09% of the company’s stock.

Insider Buying and Selling at NewMarket

In related news, CAO Bruce R. Hazelgrove III sold 1,270 shares of NewMarket stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $544.31, for a total value of $691,273.70. Following the transaction, the chief accounting officer now directly owns 358 shares of the company’s stock, valued at $194,862.98. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 20.40% of the company’s stock.

Analysts Set New Price Targets

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

NewMarket Stock Performance

NewMarket stock opened at $551.75 on Thursday. The business has a 50 day moving average of $543.43 and a 200-day moving average of $566.66. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.66 and a quick ratio of 1.48. NewMarket Co. has a 1 year low of $436.90 and a 1 year high of $650.00. The company has a market capitalization of $5.29 billion, a P/E ratio of 13.19 and a beta of 0.47.

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

NewMarket Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 16th will be issued a dividend of $2.50 per share. This represents a $10.00 annualized dividend and a yield of 1.81%. The ex-dividend date is Monday, September 16th. NewMarket’s payout ratio is presently 24.06%.

NewMarket Company 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.