NewMarket Corporation $NEU is RK Asset Management LLC’s 4th Largest Position

RK Asset Management LLC reduced its position in NewMarket Corporation (NYSE:NEU) by 4.4% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 10,167 shares of the specialty chemicals company’s stock after selling 470 shares during the period. NewMarket accounts for approximately 6.8% of RK Asset Management LLC’s investment portfolio, making the stock its 4th largest holding. RK Asset Management LLC’s holdings in NewMarket were worth $7,026,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. Crossmark Global Holdings Inc. purchased a new position in NewMarket in the first quarter worth about $257,000. Private Trust Co. NA lifted its stake in shares of NewMarket by 185.2% in the 1st quarter. Private Trust Co. NA now owns 77 shares of the specialty chemicals company’s stock worth $44,000 after purchasing an additional 50 shares during the period. Farther Finance Advisors LLC boosted its holdings in shares of NewMarket by 34.1% in the first quarter. Farther Finance Advisors LLC now owns 444 shares of the specialty chemicals company’s stock worth $252,000 after buying an additional 113 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of NewMarket by 45.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 718 shares of the specialty chemicals company’s stock worth $407,000 after buying an additional 223 shares during the last quarter. Finally, Allianz Asset Management GmbH grew its position in NewMarket by 15.1% during the first quarter. Allianz Asset Management GmbH now owns 3,993 shares of the specialty chemicals company’s stock valued at $2,262,000 after buying an additional 523 shares during the period. Institutional investors own 61.09% of the company’s stock.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded shares of NewMarket from a “buy” rating to a “hold” rating in a research report on Saturday, August 30th.

NewMarket Trading Up 1.5%

NewMarket stock opened at $840.23 on Thursday. NewMarket Corporation has a 12-month low of $480.00 and a 12-month high of $854.75. The firm has a market capitalization of $7.90 billion, a price-to-earnings ratio of 16.65 and a beta of 0.46. The firm has a 50 day moving average of $786.04 and a 200 day moving average of $683.32. The company has a current ratio of 2.66, a quick ratio of 1.43 and a debt-to-equity ratio of 0.52.

NewMarket (NYSE:NEU) last issued its quarterly earnings results on Wednesday, July 30th. The specialty chemicals company reported $11.84 earnings per share for the quarter. The business had revenue of $698.51 million for the quarter. NewMarket had a net margin of 17.28% and a return on equity of 32.25%.

NewMarket Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th were paid a $2.75 dividend. This represents a $11.00 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date was Monday, September 15th. NewMarket’s dividend payout ratio is presently 21.80%.

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.