NewMarket Co. (NYSE:NEU) Shares Sold by Cynosure Group LLC

Cynosure Group LLC cut its stake in shares of NewMarket Co. (NYSE:NEU) by 53.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 657 shares of the specialty chemicals company’s stock after selling 756 shares during the period. Cynosure Group LLC’s holdings in NewMarket were worth $363,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of NEU. Headlands Technologies LLC acquired a new position in shares of NewMarket in the second quarter worth about $33,000. Quest Partners LLC acquired a new position in NewMarket in the 2nd quarter worth approximately $38,000. Blue Trust Inc. grew its position in NewMarket by 590.9% during the 3rd quarter. Blue Trust Inc. now owns 76 shares of the specialty chemicals company’s stock worth $39,000 after purchasing an additional 65 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in NewMarket during the 2nd quarter valued at $54,000. Finally, nVerses Capital LLC purchased a new stake in shares of NewMarket in the second quarter valued at $103,000. Institutional investors and hedge funds own 61.09% of the company’s stock.

NewMarket Price Performance

Shares of NEU opened at $540.97 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.83 and a quick ratio of 1.50. The company has a market capitalization of $5.19 billion, a price-to-earnings ratio of 12.01 and a beta of 0.50. The business’s 50-day moving average is $538.41 and its 200-day moving average is $541.18. NewMarket Co. has a fifty-two week low of $494.04 and a fifty-two week high of $650.00.

NewMarket (NYSE:NEU) last released its earnings results on Wednesday, October 23rd. The specialty chemicals company reported $13.79 earnings per share (EPS) for the quarter. NewMarket had a net margin of 15.57% and a return on equity of 35.79%. The company had revenue of $724.95 million during the quarter.

NewMarket Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 16th will be paid a $2.50 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $10.00 dividend on an annualized basis and a yield of 1.85%. NewMarket’s dividend payout ratio (DPR) is currently 22.21%.

Analyst Ratings Changes

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

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.