Yousif Capital Management LLC Cuts Position in NewMarket Co. (NYSE:NEU)

Yousif Capital Management LLC reduced its stake in shares of NewMarket Co. (NYSE:NEU) by 3.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,601 shares of the specialty chemicals company’s stock after selling 81 shares during the quarter. Yousif Capital Management LLC’s holdings in NewMarket were worth $1,473,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of NEU. Empowered Funds LLC grew its position in shares of NewMarket by 61.3% in the 4th quarter. Empowered Funds LLC now owns 1,490 shares of the specialty chemicals company’s stock worth $787,000 after acquiring an additional 566 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in NewMarket by 5.6% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 1,042 shares of the specialty chemicals company’s stock worth $550,000 after acquiring an additional 55 shares during the period. Principal Securities Inc. raised its stake in shares of NewMarket by 10.9% in the 4th quarter. Principal Securities Inc. now owns 357 shares of the specialty chemicals company’s stock worth $189,000 after buying an additional 35 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of NewMarket by 20.6% in the 4th quarter. Bank of New York Mellon Corp now owns 91,875 shares of the specialty chemicals company’s stock worth $48,542,000 after buying an additional 15,694 shares in the last quarter. Finally, Sanctuary Advisors LLC raised its stake in shares of NewMarket by 5.1% in the 4th quarter. Sanctuary Advisors LLC now owns 851 shares of the specialty chemicals company’s stock worth $426,000 after buying an additional 41 shares in the last quarter. 61.09% of the stock is currently owned by hedge funds and other institutional investors.

NewMarket Stock Performance

Shares of NEU stock opened at $638.34 on Tuesday. NewMarket Co. has a 1-year low of $480.00 and a 1-year high of $671.16. The company has a current ratio of 2.75, a quick ratio of 1.40 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $6.02 billion, a price-to-earnings ratio of 13.24 and a beta of 0.41. The stock’s fifty day simple moving average is $618.08 and its 200-day simple moving average is $560.45.

NewMarket (NYSE:NEU) last issued its earnings results on Wednesday, April 23rd. The specialty chemicals company reported $13.26 EPS for the quarter. NewMarket had a return on equity of 35.48% and a net margin of 16.59%. The firm had revenue of $700.95 million for the quarter.

NewMarket Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 16th will be paid a dividend of $2.75 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $11.00 annualized dividend and a dividend yield of 1.72%. NewMarket’s dividend payout ratio (DPR) is presently 21.89%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered NewMarket from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 19th.

Insider Transactions at NewMarket

In related news, CAO Bruce R. Hazelgrove III sold 311 shares of the business’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $642.43, for a total transaction of $199,795.73. Following the completion of the transaction, the chief accounting officer now owns 358 shares of the company’s stock, valued at approximately $229,989.94. The trade was a 46.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 19.10% of the stock is currently owned by corporate insiders.

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.