Parallel Advisors LLC Cuts Position in NewMarket Co. (NYSE:NEU)

Parallel Advisors LLC trimmed its position in shares of NewMarket Co. (NYSE:NEU) by 13.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 644 shares of the specialty chemicals company’s stock after selling 97 shares during the period. Parallel Advisors LLC’s holdings in NewMarket were worth $332,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of NEU. BNP Paribas Financial Markets increased its position in NewMarket by 86.1% in the fourth quarter. BNP Paribas Financial Markets now owns 908 shares of the specialty chemicals company’s stock worth $496,000 after purchasing an additional 420 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of NewMarket by 1.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 146,589 shares of the specialty chemicals company’s stock worth $80,015,000 after buying an additional 1,958 shares during the last quarter. Envestnet Portfolio Solutions Inc. bought a new position in shares of NewMarket in the 4th quarter valued at about $319,000. Vanguard Personalized Indexing Management LLC bought a new position in shares of NewMarket in the 4th quarter valued at about $330,000. Finally, Norges Bank purchased a new position in NewMarket in the fourth quarter worth about $37,659,000. 61.09% of the stock is currently owned by institutional investors.

NewMarket Stock Down 1.2 %

NYSE NEU opened at $548.04 on Thursday. 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 Co. has a 52 week low of $436.90 and a 52 week high of $650.00. The firm has a market capitalization of $5.26 billion, a price-to-earnings ratio of 13.18 and a beta of 0.50. The company has a fifty day moving average of $552.21 and a two-hundred day moving average of $561.64.

NewMarket (NYSE:NEU) last released its quarterly earnings results on Monday, July 29th. The specialty chemicals company reported $11.63 EPS for the quarter. The firm had revenue of $710.23 million during 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 declared 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 annualized dividend and a dividend yield of 1.82%. NewMarket’s payout ratio is 24.06%.

Insider Buying and Selling

In other NewMarket news, CAO Bruce R. Hazelgrove III sold 1,270 shares of the stock in a transaction 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 sale, the chief accounting officer now owns 358 shares in the company, valued at $194,862.98. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 20.40% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, StockNews.com raised NewMarket from a “buy” rating to a “strong-buy” rating in a research note 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.