NewMarket Co. (NYSE:NEU) Stock Position Reduced by Bridgewater Associates LP

Bridgewater Associates LP trimmed its position in NewMarket Co. (NYSE:NEU) by 27.6% in the third quarter, Holdings Channel.com reports. The fund owned 7,401 shares of the specialty chemicals company’s stock after selling 2,820 shares during the period. Bridgewater Associates LP’s holdings in NewMarket were worth $4,085,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Headlands Technologies LLC acquired a new position in NewMarket in the second quarter worth $33,000. Quest Partners LLC bought a new stake in shares of NewMarket during the 2nd quarter valued at about $38,000. Blue Trust Inc. grew its position in shares of NewMarket by 590.9% during the 3rd quarter. Blue Trust Inc. now owns 76 shares of the specialty chemicals company’s stock valued at $39,000 after buying an additional 65 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in NewMarket during the second quarter worth about $54,000. Finally, nVerses Capital LLC bought a new position in NewMarket in the second quarter worth about $103,000. 61.09% of the stock is owned by institutional investors and hedge funds.

NewMarket Stock Performance

Shares of NEU opened at $532.41 on Friday. The firm has a fifty day moving average of $538.24 and a 200-day moving average of $540.99. The company has a market cap of $5.11 billion, a price-to-earnings ratio of 11.82 and a beta of 0.50. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.50 and a current ratio of 2.83. NewMarket Co. has a 1 year low of $494.04 and a 1 year high of $650.00.

NewMarket (NYSE:NEU) last posted its earnings results on Wednesday, October 23rd. The specialty chemicals company reported $13.79 earnings per share (EPS) for the quarter. NewMarket had a net margin of 15.57% and a return on equity of 35.79%. The firm had revenue of $724.95 million during the quarter.

NewMarket Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 16th will be issued a $2.50 dividend. This represents a $10.00 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date is Monday, December 16th. NewMarket’s dividend payout ratio (DPR) is 22.21%.

Analyst Ratings Changes

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

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.