Vanguard Personalized Indexing Management LLC Decreases Stake in NewMarket Co. (NYSE:NEU)

Vanguard Personalized Indexing Management LLC cut its position in shares of NewMarket Co. (NYSE:NEU) by 9.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 435 shares of the specialty chemicals company’s stock after selling 45 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in NewMarket were worth $224,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in NEU. Edgestream Partners L.P. purchased a new position in shares of NewMarket in the second quarter valued at $486,000. Dimensional Fund Advisors LP increased its holdings in shares of NewMarket by 8.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 159,467 shares of the specialty chemicals company’s stock worth $82,214,000 after buying an additional 12,110 shares during the last quarter. Envestnet Asset Management Inc. raised its position in shares of NewMarket by 12.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 34,849 shares of the specialty chemicals company’s stock valued at $17,967,000 after buying an additional 3,799 shares in the last quarter. Thoroughbred Financial Services LLC bought a new position in shares of NewMarket in the 2nd quarter valued at about $252,000. Finally, Jupiter Asset Management Ltd. purchased a new position in NewMarket in the second quarter worth about $3,509,000. Institutional investors own 61.09% of the company’s stock.

NewMarket Stock Down 0.8 %

Shares of NEU opened at $552.73 on Monday. The firm has a fifty day moving average price of $553.77 and a 200-day moving average price of $558.14. The company has a current ratio of 2.66, a quick ratio of 1.48 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $5.30 billion, a P/E ratio of 13.30 and a beta of 0.50. NewMarket Co. has a 12-month low of $436.90 and a 12-month high of $650.00.

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

NewMarket Dividend Announcement

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 1.81%. The ex-dividend date is Monday, September 16th. NewMarket’s dividend payout ratio (DPR) is presently 24.06%.

Insider Buying and Selling at NewMarket

In other news, CAO Bruce R. Hazelgrove III sold 1,270 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $544.31, for a total transaction of $691,273.70. Following the transaction, the chief accounting officer now owns 358 shares in the company, valued at $194,862.98. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 20.40% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

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.