NewMarket Co. (NYSE:NEU) Shares Sold by Farther Finance Advisors LLC

Farther Finance Advisors LLC lowered its stake in shares of NewMarket Co. (NYSE:NEU) by 14.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 331 shares of the specialty chemicals company’s stock after selling 58 shares during the quarter. Farther Finance Advisors LLC’s holdings in NewMarket were worth $175,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Proficio Capital Partners LLC acquired a new position in NewMarket in the 4th quarter worth approximately $8,933,000. Bank of New York Mellon Corp increased its holdings 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 worth $48,542,000 after buying an additional 15,694 shares during the period. DAVENPORT & Co LLC increased 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 worth $35,545,000 after buying an additional 15,129 shares during the period. State Street Corp increased its holdings in NewMarket by 4.1% in the 3rd quarter. State Street Corp now owns 229,372 shares of the specialty chemicals company’s stock worth $127,132,000 after buying an additional 8,979 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in NewMarket by 10.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 78,746 shares of the specialty chemicals company’s stock worth $43,459,000 after buying an additional 7,719 shares during the period. Institutional investors and hedge funds own 61.09% of the company’s stock.

NewMarket Trading Up 0.4 %

NewMarket stock opened at $538.64 on Thursday. The company has a current ratio of 2.75, a quick ratio of 1.40 and a debt-to-equity ratio of 0.66. NewMarket Co. has a 12 month low of $480.00 and a 12 month high of $638.21. The stock’s 50 day simple moving average is $525.15 and its two-hundred day simple moving average is $533.51. The firm has a market cap of $5.11 billion, a PE ratio of 11.17 and a beta of 0.41.

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

NewMarket Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 17th will be given a $2.75 dividend. This represents a $11.00 annualized dividend and a yield of 2.04%. The ex-dividend date is Monday, March 17th. This is a positive change from NewMarket’s previous quarterly dividend of $2.50. NewMarket’s dividend payout ratio is currently 22.82%.

Analysts Set New Price Targets

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

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.