NewMarket Co. (NYSE:NEU) Stock Position Cut by Federated Hermes Inc.

Federated Hermes Inc. trimmed its stake in shares of NewMarket Co. (NYSE:NEU) by 26.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 962 shares of the specialty chemicals company’s stock after selling 338 shares during the quarter. Federated Hermes Inc.’s holdings in NewMarket were worth $496,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in NEU. ORG Partners LLC acquired a new stake in NewMarket in the first quarter worth approximately $30,000. UMB Bank n.a. lifted its holdings in NewMarket by 64.5% in the 1st 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. Janiczek Wealth Management LLC boosted its position 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 valued at $36,000 after purchasing an additional 52 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of NewMarket in the 2nd quarter worth approximately $33,000. Finally, Quest Partners LLC acquired a new stake in NewMarket during the second quarter valued at approximately $38,000. 61.09% of the stock is owned by institutional investors and hedge funds.

NewMarket Price Performance

NEU stock opened at $553.46 on Tuesday. NewMarket Co. has a one year low of $436.90 and a one year high of $650.00. The firm has a 50-day moving average of $553.24 and a two-hundred day moving average of $559.43. The firm has a market capitalization of $5.31 billion, a PE ratio of 13.31 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 earnings results on Monday, July 29th. The specialty chemicals company reported $11.63 earnings per share (EPS) for the quarter. The company had revenue of $710.23 million for the quarter. NewMarket had a net margin of 15.12% and a return on equity of 37.06%.

NewMarket Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 16th will be issued a $2.50 dividend. The ex-dividend date is Monday, September 16th. This represents a $10.00 dividend on an annualized basis and a dividend yield of 1.81%. NewMarket’s dividend payout ratio is 24.06%.

Analysts Set New Price Targets

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

Insider Transactions at NewMarket

In other NewMarket news, CAO Bruce R. Hazelgrove III sold 1,270 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $544.31, for a total value of $691,273.70. Following the transaction, the chief accounting officer now owns 358 shares in the company, valued at approximately $194,862.98. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 20.40% of the stock is owned by 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.