American Century Companies Inc. Has $10 Million Stock Holdings in NewMarket Co. (NYSE:NEU)

American Century Companies Inc. raised its stake in NewMarket Co. (NYSE:NEU) by 2.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,403 shares of the specialty chemicals company’s stock after acquiring an additional 431 shares during the period. American Century Companies Inc. owned approximately 0.20% of NewMarket worth $10,004,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. ORG Partners LLC acquired a new position in shares of NewMarket during the 1st quarter worth $30,000. UMB Bank n.a. raised its holdings in shares of NewMarket by 64.5% during the 1st quarter. UMB Bank n.a. now owns 51 shares of the specialty chemicals company’s stock worth $32,000 after buying an additional 20 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of NewMarket during the 2nd quarter worth $33,000. Janiczek Wealth Management LLC raised its holdings in shares of NewMarket by 1,300.0% during the 1st quarter. Janiczek Wealth Management LLC now owns 56 shares of the specialty chemicals company’s stock worth $36,000 after buying an additional 52 shares in the last quarter. Finally, Quest Partners LLC acquired a new position in shares of NewMarket during the 2nd quarter worth $38,000. 61.09% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other NewMarket news, CAO Bruce R. Hazelgrove III sold 1,270 shares of the company’s stock in a transaction dated 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 transaction, the chief accounting officer now owns 358 shares of the company’s stock, valued at approximately $194,862.98. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 20.40% of the company’s stock.

NewMarket Price Performance

NewMarket stock opened at $540.12 on Monday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.48 and a current ratio of 2.66. NewMarket Co. has a 52 week low of $436.90 and a 52 week high of $650.00. The stock has a market capitalization of $5.18 billion, a P/E ratio of 12.99 and a beta of 0.50. The stock has a fifty day moving average of $552.83 and a 200-day moving average of $559.92.

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

NewMarket Announces Dividend

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 issued a $2.50 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $10.00 dividend on an annualized basis and a yield of 1.85%. NewMarket’s payout ratio is presently 24.06%.

Wall Street Analyst Weigh In

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

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.