LPL Financial LLC Reduces Stock Position in NewMarket Co. (NYSE:NEU)

LPL Financial LLC reduced its holdings in NewMarket Co. (NYSE:NEU) by 2.8% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 1,927 shares of the specialty chemicals company’s stock after selling 56 shares during the period. LPL Financial LLC’s holdings in NewMarket were worth $775,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in NEU. Mitsubishi UFJ Trust & Banking Corp purchased a new position in shares of NewMarket during the 1st quarter worth about $28,000. US Bancorp DE boosted its stake in shares of NewMarket by 15.6% during the 1st quarter. US Bancorp DE now owns 215 shares of the specialty chemicals company’s stock worth $78,000 after purchasing an additional 29 shares during the period. Dark Forest Capital Management LP purchased a new position in shares of NewMarket during the 1st quarter worth about $173,000. Covestor Ltd boosted its stake in shares of NewMarket by 69.6% during the 1st quarter. Covestor Ltd now owns 570 shares of the specialty chemicals company’s stock worth $185,000 after purchasing an additional 234 shares during the period. Finally, Resources Management Corp CT ADV boosted its stake in shares of NewMarket by 2,825.0% during the 1st quarter. Resources Management Corp CT ADV now owns 585 shares of the specialty chemicals company’s stock worth $49,000 after purchasing an additional 565 shares during the period. 60.99% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of NewMarket from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 13th.

NewMarket Price Performance

NewMarket stock opened at $516.44 on Tuesday. The stock has a market cap of $4.95 billion, a price-to-earnings ratio of 12.50 and a beta of 0.37. The company has a debt-to-equity ratio of 0.80, a current ratio of 3.21 and a quick ratio of 1.69. NewMarket Co. has a 1 year low of $297.62 and a 1 year high of $518.31. The firm has a 50-day moving average of $468.39 and a two-hundred day moving average of $441.68.

NewMarket (NYSE:NEU) last released its quarterly earnings data on Wednesday, October 25th. The specialty chemicals company reported $11.60 earnings per share (EPS) for the quarter. The company had revenue of $667.15 million during the quarter. NewMarket had a net margin of 14.57% and a return on equity of 46.27%.

NewMarket Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 15th will be given a $2.25 dividend. The ex-dividend date is Thursday, December 14th. This represents a $9.00 annualized dividend and a yield of 1.74%. NewMarket’s dividend payout ratio (DPR) is 21.79%.

NewMarket Company 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.