Vanguard Group Inc. reduced its holdings in shares of NewMarket Co. (NYSE:NEU) by 3.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 885,923 shares of the specialty chemicals company’s stock after selling 29,066 shares during the quarter. Vanguard Group Inc. owned about 7.77% of NewMarket worth $359,250,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. South State Corp purchased a new stake in shares of NewMarket during the 3rd quarter valued at approximately $250,000. SG Americas Securities LLC lifted its stake in shares of NewMarket by 319.5% during the 3rd quarter. SG Americas Securities LLC now owns 5,357 shares of the specialty chemicals company’s stock valued at $2,172,000 after buying an additional 4,080 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of NewMarket by 331.5% during the 3rd quarter. Tower Research Capital LLC TRC now owns 2,011 shares of the specialty chemicals company’s stock valued at $815,000 after buying an additional 1,545 shares in the last quarter. Simplex Trading LLC lifted its stake in shares of NewMarket by 27.9% during the 3rd quarter. Simplex Trading LLC now owns 1,232 shares of the specialty chemicals company’s stock valued at $499,000 after buying an additional 269 shares in the last quarter. Finally, Franklin Resources Inc. lifted its stake in shares of NewMarket by 63.5% during the 3rd quarter. Franklin Resources Inc. now owns 1,182 shares of the specialty chemicals company’s stock valued at $479,000 after buying an additional 459 shares in the last quarter. Institutional investors own 56.19% of the company’s stock.
NYSE NEU opened at $406.04 on Friday. NewMarket Co. has a 1 year low of $352.89 and a 1 year high of $437.63. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.88 and a current ratio of 3.28. The company has a market capitalization of $4.65 billion, a price-to-earnings ratio of 22.88 and a beta of 0.59.
The company also recently announced a quarterly dividend, which was paid on Wednesday, January 2nd. Shareholders of record on Monday, December 17th were paid a $1.75 dividend. This represents a $7.00 annualized dividend and a yield of 1.72%. The ex-dividend date of this dividend was Friday, December 14th.
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NewMarket Corporation, through its subsidiaries, engages in the petroleum additives businesses. It offers lubricant additives for use in various vehicle and industrial applications, such as engine oils, transmission fluids, off-road powertrain and hydraulic systems, gear oils, hydraulic oils, turbine oils, metalworking fluids, and in other applications where metal-to-metal moving parts are utilized; and engine oil, driveline, and industrial additives.
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