Northwestern Mutual Wealth Management Co. Trims Holdings in NewMarket Co. (NYSE:NEU)

Northwestern Mutual Wealth Management Co. reduced its holdings in shares of NewMarket Co. (NYSE:NEU) by 49.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 173 shares of the specialty chemicals company’s stock after selling 169 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in NewMarket were worth $89,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of NEU. ORG Partners LLC purchased a new position in shares of NewMarket during the first quarter valued at approximately $30,000. Headlands Technologies LLC bought a new position in NewMarket during the 2nd quarter valued at approximately $33,000. Janiczek Wealth Management LLC raised its stake in NewMarket by 1,300.0% during the first 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. Quest Partners LLC bought a new stake in NewMarket in the second quarter worth $38,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of NewMarket in the second quarter worth $54,000. 61.09% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other NewMarket news, CAO Bruce R. Hazelgrove III sold 1,270 shares of NewMarket 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 sale, the chief accounting officer now owns 358 shares of the company’s stock, valued at approximately $194,862.98. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 20.40% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

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 Up 0.3 %

NYSE:NEU opened at $525.01 on Friday. The stock has a market cap of $5.03 billion, a price-to-earnings ratio of 12.26 and a beta of 0.49. 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 company’s 50 day moving average price is $549.57 and its 200-day moving average price is $553.03. NewMarket Co. has a 52 week low of $436.90 and a 52 week high of $650.00.

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

NewMarket Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 16th were paid a $2.50 dividend. The ex-dividend date was Monday, September 16th. This represents a $10.00 dividend on an annualized basis and a dividend yield of 1.90%. NewMarket’s dividend payout ratio is presently 23.34%.

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.