Van ECK Associates Corp Boosts Stake in NewMarket Co. (NYSE:NEU)

Van ECK Associates Corp raised its holdings in NewMarket Co. (NYSE:NEU) by 30.0% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 3,656 shares of the specialty chemicals company’s stock after acquiring an additional 844 shares during the quarter. Van ECK Associates Corp’s holdings in NewMarket were worth $1,885,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of NEU. UMB Bank n.a. increased its position in shares of 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 purchasing an additional 20 shares during the last quarter. EntryPoint Capital LLC increased its holdings 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 worth $111,000 after buying an additional 40 shares during the last quarter. Park Avenue Securities LLC raised its position in shares of NewMarket by 4.0% during the 1st quarter. Park Avenue Securities LLC now owns 1,254 shares of the specialty chemicals company’s stock valued at $796,000 after buying an additional 48 shares in the last quarter. ORG Partners LLC bought a new stake in shares of NewMarket during the 1st quarter worth $30,000. Finally, Janney Montgomery Scott LLC grew its position in NewMarket by 10.5% in the first quarter. Janney Montgomery Scott LLC now owns 505 shares of the specialty chemicals company’s stock worth $320,000 after acquiring an additional 48 shares in the last quarter. Institutional investors own 61.09% of the company’s stock.

NewMarket Stock Performance

NYSE:NEU opened at $536.07 on Friday. The company has a market capitalization of $5.14 billion, a price-to-earnings ratio of 12.90 and a beta of 0.47. The business has a 50 day moving average of $544.71 and a 200 day moving average of $566.37. 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.

NewMarket (NYSE:NEU) last posted its quarterly earnings results on Monday, July 29th. The specialty chemicals company reported $11.63 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 for the quarter.

NewMarket Dividend Announcement

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

Wall Street Analyst Weigh In

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

Insider Transactions at NewMarket

In related news, CAO Bruce R. Hazelgrove III sold 1,270 shares of the stock in a transaction dated 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 sale, the chief accounting officer now directly owns 358 shares in the company, valued at approximately $194,862.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 20.40% of the company’s stock.

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.