Xponance Inc. Trims Position in NewMarket Co. (NYSE:NEU)

Xponance Inc. lessened its stake in shares of NewMarket Co. (NYSE:NEU) by 7.7% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 736 shares of the specialty chemicals company’s stock after selling 61 shares during the quarter. Xponance Inc.’s holdings in NewMarket were worth $379,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. UMB Bank n.a. grew its holdings in shares of NewMarket by 64.5% during 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 in the last quarter. Bank of Montreal Can grew its holdings in shares of 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 purchasing an additional 33 shares in the last quarter. Arizona State Retirement System grew its holdings in shares of NewMarket by 1.8% during the second quarter. Arizona State Retirement System now owns 2,013 shares of the specialty chemicals company’s stock worth $1,038,000 after purchasing an additional 36 shares in the last quarter. EntryPoint Capital LLC grew 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 purchasing an additional 40 shares in the last quarter. Finally, Park Avenue Securities LLC grew its holdings in shares of NewMarket by 4.0% during 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. Hedge funds and other institutional investors own 61.09% of the company’s stock.

NewMarket Stock Down 0.9 %

Shares of NEU opened at $547.15 on Wednesday. The firm has a market cap of $5.25 billion, a P/E ratio of 13.16 and a beta of 0.50. The stock has a 50 day simple moving average of $553.85 and a two-hundred day simple moving average of $557.25. 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 issued its earnings results 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 return on equity of 37.06% and a net margin of 15.12%.

NewMarket Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 16th were paid a $2.50 dividend. This represents a $10.00 annualized dividend and a yield of 1.83%. The ex-dividend date of this dividend was Monday, September 16th. NewMarket’s dividend payout ratio is currently 24.06%.

Insiders Place Their Bets

In other NewMarket news, CAO Bruce R. Hazelgrove III sold 1,270 shares of the business’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 value of $691,273.70. Following the completion of the sale, the chief accounting officer now owns 358 shares in the company, valued at $194,862.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 20.40% of the stock is owned by insiders.

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 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.