Cove Street Capital LLC Has $1.87 Million Stock Position in NewMarket Co. (NYSE:NEU)

Cove Street Capital LLC cut its holdings in NewMarket Co. (NYSE:NEU) by 38.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,530 shares of the specialty chemicals company’s stock after selling 2,208 shares during the period. NewMarket makes up approximately 2.2% of Cove Street Capital LLC’s investment portfolio, making the stock its 19th largest position. Cove Street Capital LLC’s holdings in NewMarket were worth $1,865,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Thrivent Financial for Lutherans increased its holdings in shares of NewMarket by 8.0% during the third quarter. Thrivent Financial for Lutherans now owns 1,803 shares of the specialty chemicals company’s stock worth $995,000 after purchasing an additional 134 shares during the period. Charles Schwab Investment Management Inc. increased its stake in NewMarket by 10.9% during 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 acquiring an additional 7,719 shares during the period. Citigroup Inc. raised its holdings in NewMarket by 51.2% in the 3rd quarter. Citigroup Inc. now owns 6,679 shares of the specialty chemicals company’s stock valued at $3,686,000 after acquiring an additional 2,262 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of NewMarket during the 3rd quarter valued at $275,000. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of NewMarket by 5.0% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 6,186 shares of the specialty chemicals company’s stock worth $3,414,000 after purchasing an additional 294 shares in the last quarter. 61.09% of the stock is owned by institutional investors.

NewMarket Stock Performance

NYSE NEU opened at $552.19 on Friday. The firm’s 50 day simple moving average is $532.52 and its 200 day simple moving average is $532.96. The firm has a market capitalization of $5.24 billion, a price-to-earnings ratio of 11.45 and a beta of 0.41. 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 1 year low of $480.00 and a 1 year high of $637.40.

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

NewMarket Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 17th will be paid a dividend of $2.75 per share. This is an increase from NewMarket’s previous quarterly dividend of $2.50. The ex-dividend date is Monday, March 17th. This represents a $11.00 annualized dividend and a yield of 1.99%. NewMarket’s payout ratio is presently 22.82%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded NewMarket from a “strong-buy” rating to a “buy” rating in a research note 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.