NewMarket Co. (NYSE:NEU) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC trimmed its stake in NewMarket Co. (NYSE:NEU) by 12.8% during the third quarter, HoldingsChannel.com reports. The fund owned 20,617 shares of the specialty chemicals company’s stock after selling 3,016 shares during the period. Los Angeles Capital Management LLC’s holdings in NewMarket were worth $11,378,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of NEU. Assetmark Inc. boosted its position in shares of NewMarket by 10.1% in the third quarter. Assetmark Inc. now owns 3,098 shares of the specialty chemicals company’s stock worth $1,710,000 after buying an additional 285 shares during the period. Van ECK Associates Corp boosted its position in shares of NewMarket by 40.0% in the third quarter. Van ECK Associates Corp now owns 5,119 shares of the specialty chemicals company’s stock worth $2,655,000 after buying an additional 1,463 shares during the period. Farther Finance Advisors LLC boosted its position in shares of NewMarket by 2,493.3% in the third quarter. Farther Finance Advisors LLC now owns 389 shares of the specialty chemicals company’s stock worth $215,000 after buying an additional 374 shares during the period. New York State Common Retirement Fund boosted its position in shares of NewMarket by 14.4% in the third quarter. New York State Common Retirement Fund now owns 40,594 shares of the specialty chemicals company’s stock worth $22,403,000 after buying an additional 5,100 shares during the period. Finally, Salomon & Ludwin LLC boosted its position in shares of NewMarket by 5.7% in the third quarter. Salomon & Ludwin LLC now owns 3,596 shares of the specialty chemicals company’s stock worth $1,985,000 after buying an additional 193 shares during the period. 61.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

NewMarket Price Performance

NEU opened at $558.21 on Tuesday. The stock has a market cap of $5.36 billion, a price-to-earnings ratio of 12.40 and a beta of 0.50. NewMarket Co. has a 1 year low of $494.04 and a 1 year high of $650.00. The company has a current ratio of 2.83, a quick ratio of 1.50 and a debt-to-equity ratio of 0.80. The stock has a fifty day moving average price of $541.88 and a 200 day moving average price of $541.27.

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

NewMarket Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 16th will be given a dividend of $2.50 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $10.00 dividend on an annualized basis and a yield of 1.79%. NewMarket’s payout ratio is 22.21%.

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.