Truist Financial Corp Sells 146 Shares of NewMarket Co. (NYSE:NEU)

Truist Financial Corp reduced its position in NewMarket Co. (NYSE:NEU) by 5.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,645 shares of the specialty chemicals company’s stock after selling 146 shares during the quarter. Truist Financial Corp’s holdings in NewMarket were worth $1,398,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of NEU. Blue Trust Inc. boosted its stake in shares of NewMarket by 590.9% in the 3rd quarter. Blue Trust Inc. now owns 76 shares of the specialty chemicals company’s stock valued at $39,000 after purchasing an additional 65 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in NewMarket by 5.0% during the third quarter. Louisiana State Employees Retirement System now owns 2,100 shares of the specialty chemicals company’s stock worth $1,159,000 after acquiring an additional 100 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in NewMarket during the third quarter worth $205,000. DekaBank Deutsche Girozentrale boosted its stake in NewMarket by 13.4% during the third quarter. DekaBank Deutsche Girozentrale now owns 382 shares of the specialty chemicals company’s stock worth $210,000 after acquiring an additional 45 shares in the last quarter. Finally, New York State Common Retirement Fund boosted its stake in NewMarket by 14.4% during the third quarter. New York State Common Retirement Fund now owns 40,594 shares of the specialty chemicals company’s stock worth $22,403,000 after acquiring an additional 5,100 shares in the last quarter. 61.09% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of NewMarket from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 19th.

NewMarket Stock Up 1.3 %

Shares of NYSE NEU opened at $570.25 on Friday. The firm has a market cap of $5.43 billion, a PE ratio of 11.83 and a beta of 0.48. NewMarket Co. has a 12-month low of $480.00 and a 12-month high of $650.00. The company’s fifty day simple moving average is $517.89 and its 200 day simple moving average is $534.75. The company has a quick ratio of 1.40, a current ratio of 2.75 and a debt-to-equity ratio of 0.66.

NewMarket (NYSE:NEU) last issued its earnings results on Monday, February 3rd. The specialty chemicals company reported $11.56 earnings per share (EPS) for the quarter. NewMarket had a net margin of 16.59% and a return on equity of 35.48%.

NewMarket Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 17th will be paid a $2.75 dividend. This represents a $11.00 dividend on an annualized basis and a dividend yield of 1.93%. This is a positive change from NewMarket’s previous quarterly dividend of $2.50. The ex-dividend date is Monday, March 17th. NewMarket’s dividend payout ratio (DPR) is 20.74%.

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.