Headlands Technologies LLC Acquires Shares of 64 NewMarket Co. (NYSE:NEU)

Headlands Technologies LLC bought a new position in shares of NewMarket Co. (NYSE:NEU) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm bought 64 shares of the specialty chemicals company’s stock, valued at approximately $33,000.

A number of other large investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in NewMarket by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 722,184 shares of the specialty chemicals company’s stock worth $394,190,000 after buying an additional 4,261 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in NewMarket by 1.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 146,589 shares of the specialty chemicals company’s stock worth $80,015,000 after buying an additional 1,958 shares during the last quarter. Norges Bank bought a new position in NewMarket during the 4th quarter worth approximately $37,659,000. HB Wealth Management LLC lifted its holdings in NewMarket by 27.4% during the 2nd quarter. HB Wealth Management LLC now owns 39,504 shares of the specialty chemicals company’s stock worth $20,367,000 after buying an additional 8,496 shares during the last quarter. Finally, Lazard Asset Management LLC lifted its holdings in NewMarket by 102.6% during the 1st quarter. Lazard Asset Management LLC now owns 36,368 shares of the specialty chemicals company’s stock worth $23,079,000 after buying an additional 18,413 shares during the last quarter. Institutional investors own 61.09% of the company’s stock.

NewMarket Trading Down 1.1 %

Shares of NYSE NEU opened at $554.50 on Wednesday. The company has a market cap of $5.32 billion, a price-to-earnings ratio of 13.34 and a beta of 0.50. NewMarket Co. has a 12-month low of $436.90 and a 12-month high of $650.00. The company has a current ratio of 2.66, a quick ratio of 1.48 and a debt-to-equity ratio of 0.95. The stock’s 50 day simple moving average is $551.53 and its 200 day simple moving average is $561.74.

NewMarket (NYSE:NEU) last announced its quarterly earnings results on Monday, July 29th. The specialty chemicals company reported $11.63 earnings per share (EPS) for the quarter. The business had revenue of $710.23 million for the quarter. NewMarket had a return on equity of 37.06% and a net margin of 15.12%.

NewMarket Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 16th will be paid a dividend of $2.50 per share. This represents a $10.00 annualized dividend and a yield of 1.80%. The ex-dividend date of this dividend is Monday, September 16th. NewMarket’s payout ratio is currently 24.06%.

Analysts Set New Price Targets

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

Insider Buying and Selling at NewMarket

In other NewMarket news, CAO Bruce R. Hazelgrove III sold 1,270 shares of NewMarket stock in a transaction on Friday, August 9th. The stock was sold at an average price of $544.31, for a total transaction of $691,273.70. Following the sale, the chief accounting officer now owns 358 shares of the company’s stock, valued at approximately $194,862.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 20.40% of the stock is owned by company insiders.

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.