NewMarket Corporation $NEU Shares Sold by Inspire Investing LLC

Inspire Investing LLC lessened its stake in NewMarket Corporation (NYSE:NEU) by 18.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 615 shares of the specialty chemicals company’s stock after selling 140 shares during the quarter. Inspire Investing LLC’s holdings in NewMarket were worth $348,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. WBI Investments LLC boosted its holdings in shares of NewMarket by 180.5% in the 1st quarter. WBI Investments LLC now owns 1,989 shares of the specialty chemicals company’s stock valued at $1,127,000 after purchasing an additional 1,280 shares during the last quarter. Impala Asset Management LLC purchased a new stake in NewMarket during the 1st quarter worth $36,819,000. Jane Street Group LLC boosted its position in NewMarket by 1,081.3% during the 1st quarter. Jane Street Group LLC now owns 10,974 shares of the specialty chemicals company’s stock worth $6,216,000 after purchasing an additional 10,045 shares during the period. SCS Capital Management LLC purchased a new stake in NewMarket during the 1st quarter worth $3,848,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in NewMarket by 9.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 22,268 shares of the specialty chemicals company’s stock worth $12,614,000 after purchasing an additional 1,995 shares during the period. Institutional investors and hedge funds own 61.09% of the company’s stock.

Analysts Set New Price Targets

Separately, Wall Street Zen cut shares of NewMarket from a “buy” rating to a “hold” rating in a research report on Saturday, August 30th.

NewMarket Stock Performance

Shares of NEU stock opened at $838.58 on Monday. NewMarket Corporation has a 12 month low of $480.00 and a 12 month high of $854.75. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.66 and a quick ratio of 1.43. The firm has a market capitalization of $7.88 billion, a P/E ratio of 16.62 and a beta of 0.49. The company’s fifty day moving average price is $761.79 and its two-hundred day moving average price is $659.96.

NewMarket (NYSE:NEU) last issued its quarterly earnings data on Wednesday, July 30th. The specialty chemicals company reported $11.84 EPS for the quarter. NewMarket had a net margin of 17.28% and a return on equity of 32.25%. The firm had revenue of $698.51 million for the quarter.

NewMarket Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be paid a $2.75 dividend. This represents a $11.00 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Monday, September 15th. NewMarket’s dividend payout ratio is 21.80%.

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.