NewMarket Co. (NYSE:NEU) Stake Raised by Millennium Management LLC

Millennium Management LLC increased its holdings in NewMarket Co. (NYSE:NEU) by 5,480.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,192 shares of the specialty chemicals company’s stock after buying an additional 17,866 shares during the quarter. Millennium Management LLC owned about 0.19% of NewMarket worth $9,379,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in NEU. ORG Partners LLC acquired a new position in shares of NewMarket during the first quarter valued at $30,000. UMB Bank n.a. increased its stake in 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 bought a new stake in shares of NewMarket during the 2nd quarter worth about $33,000. Janiczek Wealth Management LLC lifted its stake 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 worth $36,000 after acquiring an additional 52 shares during the period. Finally, Quest Partners LLC bought a new position in shares of NewMarket in the second quarter valued at approximately $38,000. 61.09% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Insider Transactions at NewMarket

In related news, CAO Bruce R. Hazelgrove III sold 1,270 shares of NewMarket 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 transaction, the chief accounting officer now directly owns 358 shares in the company, valued at $194,862.98. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 20.40% of the company’s stock.

NewMarket Price Performance

NYSE:NEU opened at $523.03 on Wednesday. The company has a quick ratio of 1.48, a current ratio of 2.66 and a debt-to-equity ratio of 0.95. The business’s 50-day moving average price is $551.06 and its 200 day moving average price is $553.43. NewMarket Co. has a 52-week low of $436.90 and a 52-week high of $650.00. The firm has a market cap of $5.02 billion, a P/E ratio of 12.58 and a beta of 0.49.

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

NewMarket Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 16th were given a dividend of $2.50 per share. The ex-dividend date was Monday, September 16th. This represents a $10.00 dividend on an annualized basis and a dividend yield of 1.91%. NewMarket’s dividend payout ratio (DPR) 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.