NewMarket Co. (NYSE:NEU) Shares Sold by O Shaughnessy Asset Management LLC

O Shaughnessy Asset Management LLC decreased its stake in NewMarket Co. (NYSE:NEU) by 10.5% during the 4th quarter, Holdings Channel reports. The firm owned 3,521 shares of the specialty chemicals company’s stock after selling 413 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in NewMarket were worth $1,860,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Norges Bank acquired a new stake in NewMarket in the 4th quarter worth about $41,268,000. American Century Companies Inc. boosted its stake in shares of NewMarket by 147.2% in the fourth quarter. American Century Companies Inc. now owns 47,717 shares of the specialty chemicals company’s stock worth $25,211,000 after acquiring an additional 28,417 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of NewMarket during the fourth quarter worth approximately $8,933,000. Bank of New York Mellon Corp raised its stake in NewMarket by 20.6% in the 4th quarter. Bank of New York Mellon Corp now owns 91,875 shares of the specialty chemicals company’s stock valued at $48,542,000 after purchasing an additional 15,694 shares during the last quarter. Finally, DAVENPORT & Co LLC lifted its holdings in NewMarket by 29.2% in the 4th quarter. DAVENPORT & Co LLC now owns 66,879 shares of the specialty chemicals company’s stock valued at $35,545,000 after purchasing an additional 15,129 shares in the last quarter. Institutional investors and hedge funds own 61.09% of the company’s stock.

NewMarket Trading Down 2.4 %

NEU opened at $544.42 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.75 and a quick ratio of 1.40. The company’s 50 day simple moving average is $538.89 and its two-hundred day simple moving average is $533.23. The firm has a market capitalization of $5.16 billion, a price-to-earnings ratio of 11.29 and a beta of 0.41. NewMarket Co. has a 1-year low of $480.00 and a 1-year high of $624.91.

NewMarket (NYSE:NEU) last released its quarterly earnings data on Monday, February 3rd. The specialty chemicals company reported $11.56 earnings per share for the quarter. NewMarket had a return on equity of 35.48% and a net margin of 16.59%.

NewMarket Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 17th were given a dividend of $2.75 per share. This is a boost from NewMarket’s previous quarterly dividend of $2.50. This represents a $11.00 annualized dividend and a yield of 2.02%. The ex-dividend date was Monday, March 17th. NewMarket’s dividend payout ratio (DPR) is presently 22.82%.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of NewMarket from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 19th.

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.