Brandywine Global Investment Management LLC Sells 2,604 Shares of NewMarket Corporation $NEU

Brandywine Global Investment Management LLC trimmed its position in shares of NewMarket Corporation (NYSE:NEU) by 7.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 31,553 shares of the specialty chemicals company’s stock after selling 2,604 shares during the period. Brandywine Global Investment Management LLC owned about 0.34% of NewMarket worth $21,799,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd boosted its position in shares of NewMarket by 587.5% during the first quarter. Caitong International Asset Management Co. Ltd now owns 55 shares of the specialty chemicals company’s stock valued at $31,000 after buying an additional 47 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in NewMarket by 100.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78 shares of the specialty chemicals company’s stock valued at $44,000 after acquiring an additional 39 shares during the period. ST Germain D J Co. Inc. bought a new position in NewMarket in the 2nd quarter valued at $83,000. MAI Capital Management increased its stake in NewMarket by 20.8% in the second quarter. MAI Capital Management now owns 122 shares of the specialty chemicals company’s stock worth $84,000 after purchasing an additional 21 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its stake in NewMarket by 13.1% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 198 shares of the specialty chemicals company’s stock worth $112,000 after purchasing an additional 23 shares during the period. Institutional investors own 61.09% of the company’s stock.

NewMarket Price Performance

Shares of NEU stock opened at $740.83 on Friday. NewMarket Corporation has a twelve month low of $480.00 and a twelve month high of $875.97. The company has a current ratio of 2.66, a quick ratio of 1.43 and a debt-to-equity ratio of 0.52. The stock has a fifty day simple moving average of $790.22 and a two-hundred day simple moving average of $739.21. The stock has a market capitalization of $6.96 billion, a price-to-earnings ratio of 14.68 and a beta of 0.46.

NewMarket (NYSE:NEU) last released its quarterly earnings data on Thursday, October 30th. The specialty chemicals company reported $10.67 earnings per share for the quarter. NewMarket had a return on equity of 32.25% and a net margin of 17.28%.The firm had revenue of $690.31 million during the quarter.

NewMarket Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 15th will be issued a $3.00 dividend. The ex-dividend date is Monday, December 15th. This represents a $12.00 annualized dividend and a dividend yield of 1.6%. This is an increase from NewMarket’s previous quarterly dividend of $2.75. NewMarket’s dividend payout ratio (DPR) is presently 25.35%.

Wall Street Analyst Weigh In

NEU has been the subject of a number of recent analyst reports. Wall Street Zen lowered shares of NewMarket from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of NewMarket in a report on Monday. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, NewMarket presently has an average rating of “Buy”.

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.