Dark Forest Capital Management LP Raises Holdings in NewMarket Co. (NYSE:NEU)

Dark Forest Capital Management LP lifted its holdings in NewMarket Co. (NYSE:NEU) by 23.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 392 shares of the specialty chemicals company’s stock after buying an additional 75 shares during the quarter. Dark Forest Capital Management LP’s holdings in NewMarket were worth $202,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Cubist Systematic Strategies LLC boosted its position in shares of NewMarket by 1.7% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 3,986 shares of the specialty chemicals company’s stock worth $2,055,000 after purchasing an additional 66 shares in the last quarter. Marshall Wace LLP purchased a new stake in NewMarket during the second quarter worth about $1,553,000. Bank of Montreal Can grew its position in NewMarket by 4.7% during the second quarter. Bank of Montreal Can now owns 739 shares of the specialty chemicals company’s stock worth $399,000 after buying an additional 33 shares during the period. Ensign Peak Advisors Inc increased its holdings in NewMarket by 19.5% in the second quarter. Ensign Peak Advisors Inc now owns 8,524 shares of the specialty chemicals company’s stock valued at $4,395,000 after buying an additional 1,390 shares in the last quarter. Finally, Pacer Advisors Inc. lifted its position in shares of NewMarket by 64.7% during the 2nd quarter. Pacer Advisors Inc. now owns 198,249 shares of the specialty chemicals company’s stock valued at $102,211,000 after acquiring an additional 77,908 shares during the period. Institutional investors and hedge funds own 61.09% of the company’s stock.

Insider Activity at NewMarket

In other NewMarket news, CAO Bruce R. Hazelgrove III sold 1,270 shares of the firm’s stock in a transaction 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 owns 358 shares of the company’s stock, valued at $194,862.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 20.40% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

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

NewMarket Stock Down 0.2 %

NewMarket stock opened at $551.39 on Tuesday. NewMarket Co. has a fifty-two week low of $436.90 and a fifty-two week high of $650.00. The firm has a market capitalization of $5.29 billion, a price-to-earnings ratio of 13.26 and a beta of 0.50. The stock’s fifty day moving average is $553.77 and its two-hundred day moving average is $557.74. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.48 and a current ratio of 2.66.

NewMarket (NYSE:NEU) last posted its earnings results on Monday, July 29th. The specialty chemicals company reported $11.63 earnings per share 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 disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 16th will be given a dividend of $2.50 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $10.00 annualized dividend and a dividend yield of 1.81%. NewMarket’s dividend payout ratio is currently 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.