American International Group Inc. Sells 401 Shares of NewMarket Co. (NYSE:NEU)

American International Group Inc. lowered its position in NewMarket Co. (NYSE:NEU) by 4.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,321 shares of the specialty chemicals company’s stock after selling 401 shares during the period. American International Group Inc. owned 0.10% of NewMarket worth $5,088,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of NEU. QRG Capital Management Inc. bought a new position in shares of NewMarket in the third quarter valued at approximately $365,000. Envestnet Asset Management Inc. increased its holdings in shares of NewMarket by 57.8% in the third quarter. Envestnet Asset Management Inc. now owns 26,096 shares of the specialty chemicals company’s stock valued at $11,875,000 after purchasing an additional 9,557 shares in the last quarter. Invesco Ltd. increased its holdings in shares of NewMarket by 41.2% in the third quarter. Invesco Ltd. now owns 105,136 shares of the specialty chemicals company’s stock valued at $47,841,000 after purchasing an additional 30,694 shares in the last quarter. Mariner LLC increased its holdings in shares of NewMarket by 4.2% in the third quarter. Mariner LLC now owns 1,772 shares of the specialty chemicals company’s stock valued at $806,000 after purchasing an additional 71 shares in the last quarter. Finally, Federated Hermes Inc. increased its holdings in shares of NewMarket by 45.8% in the third quarter. Federated Hermes Inc. now owns 1,248 shares of the specialty chemicals company’s stock valued at $568,000 after purchasing an additional 392 shares in the last quarter. Institutional investors own 61.09% of the company’s stock.

NewMarket Stock Performance

Shares of NewMarket stock opened at $522.82 on Friday. The company has a debt-to-equity ratio of 1.11, a current ratio of 2.86 and a quick ratio of 1.60. The firm has a market cap of $5.01 billion, a P/E ratio of 12.58 and a beta of 0.48. The firm has a 50 day simple moving average of $547.62 and a 200 day simple moving average of $575.87. NewMarket Co. has a fifty-two week low of $396.07 and a fifty-two week high of $650.00.

NewMarket (NYSE:NEU) last released its earnings results on Wednesday, April 24th. The specialty chemicals company reported $11.23 EPS for the quarter. NewMarket had a net margin of 14.82% and a return on equity of 38.99%. The firm had revenue of $696.74 million during the quarter.

NewMarket Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be issued a dividend of $2.50 per share. This represents a $10.00 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date of this dividend is Friday, June 14th. NewMarket’s dividend payout ratio is presently 24.06%.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of NewMarket from a “strong-buy” rating to a “buy” rating in a report on Thursday.

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.