Allspring Global Investments Holdings LLC lessened its holdings in shares of NewMarket Co. (NYSE:NEU – Free Report) by 3.0% during the 2nd quarter, HoldingsChannel reports. The firm owned 371,530 shares of the specialty chemicals company’s stock after selling 11,319 shares during the period. Allspring Global Investments Holdings LLC’s holdings in NewMarket were worth $149,400,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in NEU. Bank of New York Mellon Corp boosted its position in shares of NewMarket by 0.7% during the 1st quarter. Bank of New York Mellon Corp now owns 105,010 shares of the specialty chemicals company’s stock valued at $34,063,000 after acquiring an additional 700 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of NewMarket by 29.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,949 shares of the specialty chemicals company’s stock valued at $955,000 after acquiring an additional 667 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in NewMarket in the first quarter valued at about $252,000. MetLife Investment Management LLC lifted its position in NewMarket by 31.8% in the first quarter. MetLife Investment Management LLC now owns 4,414 shares of the specialty chemicals company’s stock valued at $1,432,000 after buying an additional 1,066 shares during the last quarter. Finally, Rhumbline Advisers lifted its position in NewMarket by 1.0% in the first quarter. Rhumbline Advisers now owns 24,179 shares of the specialty chemicals company’s stock valued at $7,843,000 after buying an additional 243 shares during the last quarter. Institutional investors and hedge funds own 60.99% of the company’s stock.
NewMarket Stock Down 2.2 %
Shares of NYSE:NEU opened at $437.40 on Tuesday. The company has a debt-to-equity ratio of 1.03, a current ratio of 3.27 and a quick ratio of 1.73. The firm has a market capitalization of $4.19 billion, a PE ratio of 12.14 and a beta of 0.39. The firm’s 50-day moving average is $457.48 and its two-hundred day moving average is $425.80. NewMarket Co. has a 1 year low of $288.06 and a 1 year high of $475.94.
NewMarket Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Friday, September 15th were paid a dividend of $2.25 per share. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.06%. NewMarket’s payout ratio is 24.98%.
Analyst Upgrades and Downgrades
Separately, StockNews.com raised shares of NewMarket from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 13th.
Read Our Latest Report on NewMarket
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.
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