Handelsbanken Fonder AB Raises Stock Position in NewMarket Co. (NYSE:NEU)

Handelsbanken Fonder AB increased its holdings in shares of NewMarket Co. (NYSE:NEU) by 43.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,300 shares of the specialty chemicals company’s stock after purchasing an additional 700 shares during the period. Handelsbanken Fonder AB’s holdings in NewMarket were worth $1,269,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. ORG Partners LLC acquired a new position in shares of NewMarket during the first quarter worth about $30,000. Headlands Technologies LLC purchased a new stake in shares of NewMarket during the 2nd quarter valued at about $33,000. Janiczek Wealth Management LLC lifted its position in NewMarket by 1,300.0% during the 1st quarter. Janiczek Wealth Management LLC now owns 56 shares of the specialty chemicals company’s stock worth $36,000 after acquiring an additional 52 shares in the last quarter. Quest Partners LLC purchased a new position in NewMarket in the 2nd quarter worth approximately $38,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in NewMarket in the second quarter valued at approximately $54,000. 61.09% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other NewMarket news, CAO Bruce R. Hazelgrove III sold 1,270 shares of the stock in a transaction on Friday, August 9th. The shares were sold at an average price of $544.31, for a total transaction of $691,273.70. Following the transaction, the chief accounting officer now directly owns 358 shares in the company, valued at $194,862.98. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 20.40% of the company’s stock.

Wall Street Analyst Weigh In

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

NewMarket Stock Performance

NYSE:NEU opened at $525.01 on Friday. The firm has a 50-day moving average of $549.57 and a two-hundred day moving average of $553.03. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.66 and a quick ratio of 1.48. The stock has a market cap of $5.03 billion, a P/E ratio of 12.26 and a beta of 0.49. NewMarket Co. has a 1-year low of $436.90 and a 1-year high of $650.00.

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

NewMarket Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 16th were given a dividend of $2.50 per share. This represents a $10.00 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend was Monday, September 16th. NewMarket’s payout ratio is currently 23.34%.

NewMarket 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.