The Manufacturers Life Insurance Company Cuts Stock Position in NewMarket Co. (NYSE:NEU)

The Manufacturers Life Insurance Company cut its stake in shares of NewMarket Co. (NYSE:NEU) by 1.8% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 5,892 shares of the specialty chemicals company’s stock after selling 105 shares during the period. The Manufacturers Life Insurance Company owned about 0.06% of NewMarket worth $3,038,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in NEU. Vanguard Group Inc. lifted its stake in NewMarket by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 722,184 shares of the specialty chemicals company’s stock valued at $394,190,000 after buying an additional 4,261 shares in the last quarter. Pacer Advisors Inc. lifted its position in shares of NewMarket by 64.7% in the second quarter. Pacer Advisors Inc. now owns 198,249 shares of the specialty chemicals company’s stock valued at $102,211,000 after acquiring an additional 77,908 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of NewMarket by 8.2% in the second quarter. Dimensional Fund Advisors LP now owns 159,467 shares of the specialty chemicals company’s stock worth $82,214,000 after acquiring an additional 12,110 shares during the last quarter. HB Wealth Management LLC increased its position in shares of NewMarket by 27.4% during the second quarter. HB Wealth Management LLC now owns 39,504 shares of the specialty chemicals company’s stock worth $20,367,000 after purchasing an additional 8,496 shares in the last quarter. Finally, Lazard Asset Management LLC increased its position in shares of NewMarket by 102.6% during the first quarter. Lazard Asset Management LLC now owns 36,368 shares of the specialty chemicals company’s stock worth $23,079,000 after purchasing an additional 18,413 shares in the last quarter. 61.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Activity at NewMarket

In other news, CAO Bruce R. Hazelgrove III sold 1,270 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 358 shares of the company’s stock, valued at approximately $194,862.98. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 20.40% of the stock is currently owned by company insiders.

NewMarket Stock Up 0.1 %

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. NewMarket Co. has a 52 week low of $436.90 and a 52 week high of $650.00. The business’s fifty day simple moving average is $551.06 and its 200-day simple moving average is $553.43. The firm has a market cap of $5.02 billion, a PE ratio of 12.58 and a beta of 0.49.

NewMarket (NYSE:NEU) last posted its earnings results on Monday, July 29th. The specialty chemicals company reported $11.63 earnings per share (EPS) for the quarter. The company 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 company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 16th were paid a dividend of $2.50 per share. This represents a $10.00 annualized dividend and a yield of 1.91%. The ex-dividend date was Monday, September 16th. NewMarket’s payout ratio is 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.