Thoroughbred Financial Services LLC Makes New $252,000 Investment in NewMarket Co. (NYSE:NEU)

Thoroughbred Financial Services LLC purchased a new stake in NewMarket Co. (NYSE:NEU) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 489 shares of the specialty chemicals company’s stock, valued at approximately $252,000.

Several other large investors have also recently modified their holdings of the business. ORG Partners LLC acquired a new stake in NewMarket in the first quarter valued at $30,000. UMB Bank n.a. grew its position in shares of 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 buying an additional 20 shares during the last quarter. Janiczek Wealth Management LLC grew its position in shares of NewMarket by 1,300.0% in the 1st quarter. Janiczek Wealth Management LLC now owns 56 shares of the specialty chemicals company’s stock valued at $36,000 after buying an additional 52 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of NewMarket in the second quarter valued at about $33,000. Finally, Quest Partners LLC bought a new position in shares of NewMarket during the second quarter worth about $38,000. Institutional investors own 61.09% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Bruce R. Hazelgrove III sold 1,270 shares of NewMarket stock in a transaction 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 completion of the sale, 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 Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 20.40% of the company’s stock.

Wall Street Analyst Weigh In

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

NewMarket Trading Down 1.1 %

NEU opened at $554.50 on Wednesday. NewMarket Co. has a twelve month low of $436.90 and a twelve month high of $650.00. The company has a fifty day moving average of $551.53 and a 200-day moving average of $561.74. The stock has a market cap of $5.32 billion, a PE ratio of 13.34 and a beta of 0.50. The company has a quick ratio of 1.48, a current ratio of 2.66 and a debt-to-equity ratio of 0.95.

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

NewMarket Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 16th will be paid a $2.50 dividend. This represents a $10.00 annualized dividend and a yield of 1.80%. The ex-dividend date is Monday, September 16th. NewMarket’s dividend payout ratio (DPR) is presently 24.06%.

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.