Envestnet Asset Management Inc. Boosts Holdings in NewMarket Co. (NYSE:NEU)

Envestnet Asset Management Inc. lifted its stake in shares of NewMarket Co. (NYSE:NEU) by 12.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,849 shares of the specialty chemicals company’s stock after acquiring an additional 3,799 shares during the period. Envestnet Asset Management Inc. owned 0.36% of NewMarket worth $17,967,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of NEU. ORG Partners LLC acquired a new position in NewMarket during the first quarter worth approximately $30,000. UMB Bank n.a. grew its stake 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 valued at $32,000 after buying an additional 20 shares during the period. Headlands Technologies LLC purchased a new stake in shares of NewMarket during the 2nd quarter valued at $33,000. Janiczek Wealth Management LLC increased 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 during the last quarter. Finally, Quest Partners LLC purchased a new position in shares of NewMarket in the 2nd quarter worth $38,000. 61.09% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at NewMarket

In related news, CAO Bruce R. Hazelgrove III sold 1,270 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $544.31, for a total transaction of $691,273.70. Following the sale, the chief accounting officer now directly owns 358 shares in the company, valued at approximately $194,862.98. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 20.40% of the company’s stock.

Analyst Upgrades and Downgrades

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

NewMarket Stock Up 2.5 %

NEU opened at $553.46 on Tuesday. NewMarket Co. has a 1 year low of $436.90 and a 1 year high of $650.00. The firm has a 50 day moving average price of $553.24 and a 200 day moving average price of $559.43. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.48 and a current ratio of 2.66. The company has a market cap of $5.31 billion, a PE ratio of 13.31 and a beta of 0.50.

NewMarket (NYSE:NEU) last issued its earnings results on Monday, July 29th. The specialty chemicals company reported $11.63 EPS for the quarter. The business 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 Announces Dividend

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

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.