Bank of Nova Scotia Has $635,000 Holdings in NewMarket Co. (NYSE:NEU)

Bank of Nova Scotia decreased its position in NewMarket Co. (NYSE:NEUGet Rating) by 3.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,111 shares of the specialty chemicals company’s stock after selling 82 shares during the quarter. Bank of Nova Scotia’s holdings in NewMarket were worth $635,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. US Bancorp DE raised its position in NewMarket by 51.9% in the 2nd quarter. US Bancorp DE now owns 120 shares of the specialty chemicals company’s stock valued at $36,000 after buying an additional 41 shares during the last quarter. SRS Capital Advisors Inc. grew its position in NewMarket by 15.6% in the first quarter. SRS Capital Advisors Inc. now owns 259 shares of the specialty chemicals company’s stock valued at $84,000 after purchasing an additional 35 shares in the last quarter. Covestor Ltd increased its stake in NewMarket by 69.6% in the 1st quarter. Covestor Ltd now owns 570 shares of the specialty chemicals company’s stock valued at $185,000 after buying an additional 234 shares during the last quarter. Hightower 6M Holding LLC bought a new stake in NewMarket during the 1st quarter worth about $225,000. Finally, Xponance Inc. boosted its stake in shares of NewMarket by 6.0% during the 2nd quarter. Xponance Inc. now owns 790 shares of the specialty chemicals company’s stock worth $238,000 after buying an additional 45 shares during the last quarter. 65.94% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on NewMarket in a research report on Wednesday, October 12th. They issued a “buy” rating on the stock.

NewMarket Trading Down 0.0 %

NYSE NEU opened at $308.54 on Monday. NewMarket Co. has a 12 month low of $280.28 and a 12 month high of $360.77. The company has a current ratio of 2.76, a quick ratio of 1.37 and a debt-to-equity ratio of 1.51. The stock has a 50 day moving average of $302.10 and a 200-day moving average of $306.31. The company has a market cap of $3.05 billion, a PE ratio of 15.23 and a beta of 0.31.

NewMarket Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 3rd. Shareholders of record on Thursday, December 15th will be paid a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date of this dividend is Wednesday, December 14th. NewMarket’s dividend payout ratio is currently 41.46%.

About NewMarket

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NewMarket Corporation, through its subsidiaries, engages in the petroleum additives business. 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.

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Institutional Ownership by Quarter for NewMarket (NYSE:NEU)

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