Principal Financial Group Inc. Sells 228 Shares of NewMarket Co. (NYSE:NEU)

Principal Financial Group Inc. lessened its holdings in NewMarket Co. (NYSE:NEU) by 0.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,408 shares of the specialty chemicals company’s stock after selling 228 shares during the period. Principal Financial Group Inc. owned about 0.27% of NewMarket worth $9,638,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Hollencrest Capital Management purchased a new stake in shares of NewMarket in the fourth quarter worth approximately $35,000. US Bancorp DE boosted its holdings in NewMarket by 15.6% during the 1st quarter. US Bancorp DE now owns 215 shares of the specialty chemicals company’s stock worth $78,000 after acquiring an additional 29 shares during the last quarter. Covestor Ltd grew its stake in shares of NewMarket by 69.6% in the 1st quarter. Covestor Ltd now owns 570 shares of the specialty chemicals company’s stock worth $185,000 after acquiring an additional 234 shares in the last quarter. Quantbot Technologies LP raised its holdings in shares of NewMarket by 12,580.0% in the second quarter. Quantbot Technologies LP now owns 634 shares of the specialty chemicals company’s stock valued at $190,000 after purchasing an additional 629 shares during the last quarter. Finally, ProShare Advisors LLC lifted its position in shares of NewMarket by 4.6% during the fourth quarter. ProShare Advisors LLC now owns 724 shares of the specialty chemicals company’s stock valued at $225,000 after purchasing an additional 32 shares in the last quarter. Institutional investors own 60.99% of the company’s stock.

NewMarket Price Performance

NYSE NEU opened at $463.48 on Wednesday. The company has a market cap of $4.44 billion, a PE ratio of 12.86 and a beta of 0.39. The company has a quick ratio of 1.73, a current ratio of 3.27 and a debt-to-equity ratio of 1.03. The firm’s 50-day simple moving average is $439.52 and its two-hundred day simple moving average is $396.55. NewMarket Co. has a 52 week low of $280.28 and a 52 week high of $471.65.

NewMarket (NYSE:NEU) last released its quarterly earnings data on Wednesday, July 26th. The specialty chemicals company reported $10.36 EPS for the quarter. The company had revenue of $685.13 million during the quarter. NewMarket had a net margin of 12.69% and a return on equity of 44.65%.

NewMarket Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 15th will be given a $2.25 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 1.94%. NewMarket’s dividend payout ratio (DPR) is presently 24.98%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on NewMarket in a report on Thursday, August 17th. They issued a “strong-buy” rating for the company.

About NewMarket

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.