TD Asset Management Inc Trims Position in NewMarket Co. (NYSE:NEU)

TD Asset Management Inc lessened its position in shares of NewMarket Co. (NYSE:NEU) by 1.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,800 shares of the specialty chemicals company’s stock after selling 100 shares during the quarter. TD Asset Management Inc owned 0.10% of NewMarket worth $5,053,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. UMB Bank n.a. increased its position in NewMarket by 64.5% during the first quarter. UMB Bank n.a. now owns 51 shares of the specialty chemicals company’s stock valued at $32,000 after acquiring an additional 20 shares during the last quarter. EntryPoint Capital LLC increased its position in NewMarket by 29.6% in the first quarter. EntryPoint Capital LLC now owns 175 shares of the specialty chemicals company’s stock worth $111,000 after buying an additional 40 shares in the last quarter. Park Avenue Securities LLC increased its position in NewMarket by 4.0% in the first quarter. Park Avenue Securities LLC now owns 1,254 shares of the specialty chemicals company’s stock worth $796,000 after buying an additional 48 shares in the last quarter. ORG Partners LLC purchased a new stake in NewMarket in the first quarter worth about $30,000. Finally, Janney Montgomery Scott LLC increased its position in NewMarket by 10.5% in the first quarter. Janney Montgomery Scott LLC now owns 505 shares of the specialty chemicals company’s stock worth $320,000 after buying an additional 48 shares in the last quarter. Hedge funds and other institutional investors own 61.09% of the company’s stock.

Analyst Ratings Changes

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

Insider Activity

In other news, CAO Bruce R. Hazelgrove III sold 1,270 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $544.31, for a total value of $691,273.70. Following the completion of the sale, the chief accounting officer now directly owns 358 shares of the company’s stock, valued at approximately $194,862.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 20.40% of the company’s stock.

NewMarket Price Performance

Shares of NewMarket stock opened at $558.42 on Thursday. The stock has a 50 day moving average of $547.95 and a 200 day moving average of $564.53. NewMarket Co. has a 12 month low of $436.90 and a 12 month high of $650.00. The firm has a market cap of $5.36 billion, a PE ratio of 13.43 and a beta of 0.50. The company has a current ratio of 2.66, a quick ratio of 1.48 and a debt-to-equity ratio of 0.95.

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

NewMarket Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 16th will be paid a dividend of $2.50 per share. This represents a $10.00 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date of this dividend is Monday, September 16th. NewMarket’s payout ratio is presently 24.06%.

NewMarket Company 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.