Exchange Traded Concepts LLC Acquires 319 Shares of NewMarket Co. (NYSE:NEU)

Exchange Traded Concepts LLC lifted its position in NewMarket Co. (NYSE:NEU) by 30.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,363 shares of the specialty chemicals company’s stock after purchasing an additional 319 shares during the period. Exchange Traded Concepts LLC’s holdings in NewMarket were worth $752,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. ORG Partners LLC purchased a new stake in shares of NewMarket in the first quarter worth $30,000. Headlands Technologies LLC purchased a new stake in shares of NewMarket in the second quarter worth $33,000. Janiczek Wealth Management LLC increased its stake in shares of NewMarket by 1,300.0% in the first quarter. Janiczek Wealth Management LLC now owns 56 shares of the specialty chemicals company’s stock worth $36,000 after purchasing an additional 52 shares in the last quarter. Quest Partners LLC purchased a new stake in shares of 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 Transactions at NewMarket

In other news, CAO Bruce R. Hazelgrove III sold 1,270 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $194,862.98. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 20.40% of the company’s stock.

Wall Street Analyst Weigh In

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

NewMarket Stock Performance

NEU opened at $525.02 on Friday. The stock has a market capitalization of $5.04 billion, a price-to-earnings ratio of 12.63 and a beta of 0.49. The company has a fifty day moving average of $547.60 and a 200 day moving average of $548.68. NewMarket Co. has a fifty-two week low of $436.90 and a fifty-two week high of $650.00. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.48 and a current ratio of 2.66.

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

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 16th were issued a $2.50 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $10.00 annualized dividend and a dividend yield of 1.90%. NewMarket’s dividend payout ratio (DPR) is presently 24.06%.

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.