Victory Capital Management Inc. Has $9.20 Million Holdings in NewMarket Co. (NYSE:NEU)

Victory Capital Management Inc. lessened its holdings in NewMarket Co. (NYSE:NEU) by 1.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,848 shares of the specialty chemicals company’s stock after selling 293 shares during the period. Victory Capital Management Inc. owned about 0.19% of NewMarket worth $9,202,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its position in NewMarket by 1.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 146,589 shares of the specialty chemicals company’s stock worth $80,015,000 after purchasing an additional 1,958 shares in the last quarter. Treasurer of the State of North Carolina lifted its stake in shares of NewMarket by 51.9% in the 4th quarter. Treasurer of the State of North Carolina now owns 4,160 shares of the specialty chemicals company’s stock valued at $2,271,000 after acquiring an additional 1,421 shares during the last quarter. Alaska Permanent Fund Corp boosted its holdings in shares of NewMarket by 142.6% during the 1st quarter. Alaska Permanent Fund Corp now owns 17,320 shares of the specialty chemicals company’s stock valued at $10,992,000 after acquiring an additional 10,182 shares in the last quarter. Virtu Financial LLC bought a new stake in NewMarket during the 4th quarter worth $957,000. Finally, Great Valley Advisor Group Inc. increased its holdings in NewMarket by 31.9% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 4,367 shares of the specialty chemicals company’s stock worth $2,251,000 after purchasing an additional 1,056 shares in the last quarter. Institutional investors and hedge funds own 61.09% of the company’s stock.

Wall Street Analyst Weigh In

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

NewMarket Price Performance

NEU stock opened at $557.21 on Friday. 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 Co. has a 52-week low of $436.90 and a 52-week high of $650.00. The company has a market capitalization of $5.34 billion, a P/E ratio of 13.40 and a beta of 0.50. The company has a fifty day moving average price of $549.57 and a 200-day moving average price of $563.43.

NewMarket (NYSE:NEU) last announced its 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 for the quarter.

NewMarket Announces Dividend

The company also recently announced 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. This represents a $10.00 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date of this dividend is Monday, September 16th. NewMarket’s dividend payout ratio is presently 24.06%.

Insiders Place Their Bets

In other 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 completion of the sale, the chief accounting officer now directly owns 358 shares in the company, valued at $194,862.98. The transaction was disclosed in a filing with the SEC, which is available at this link. 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.