Ajo LP Lowers Stake in NewMarket Co. (NYSE:NEU)

Ajo LP reduced its holdings in shares of NewMarket Co. (NYSE:NEU) by 28.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 22,110 shares of the specialty chemicals company’s stock after selling 8,668 shares during the period. Ajo LP owned approximately 0.20% of NewMarket worth $7,567,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of NEU. Point72 Hong Kong Ltd purchased a new position in NewMarket during the 2nd quarter worth $42,000. CI Investments Inc. bought a new stake in shares of NewMarket during the 3rd quarter worth $45,000. CWM LLC boosted its holdings in shares of NewMarket by 146.4% during the 3rd quarter. CWM LLC now owns 138 shares of the specialty chemicals company’s stock worth $47,000 after buying an additional 82 shares during the period. Advisors Asset Management Inc. bought a new stake in shares of NewMarket during the 2nd quarter worth $52,000. Finally, NN Investment Partners Holdings N.V. boosted its holdings in shares of NewMarket by 151.4% during the 2nd quarter. NN Investment Partners Holdings N.V. now owns 181 shares of the specialty chemicals company’s stock worth $72,000 after buying an additional 109 shares during the period. 56.71% of the stock is currently owned by institutional investors.

Shares of NYSE NEU opened at $367.06 on Friday. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.77 and a quick ratio of 1.57. The stock’s fifty day moving average price is $360.09 and its two-hundred day moving average price is $386.08. NewMarket Co. has a one year low of $304.65 and a one year high of $498.15. The firm has a market cap of $4.01 billion, a price-to-earnings ratio of 15.98 and a beta of 0.41.

NewMarket (NYSE:NEU) last issued its quarterly earnings data on Wednesday, October 28th. The specialty chemicals company reported $8.77 EPS for the quarter, beating analysts’ consensus estimates of $6.97 by $1.80. NewMarket had a return on equity of 37.86% and a net margin of 12.58%.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 4th. Shareholders of record on Tuesday, December 15th will be issued a $1.90 dividend. This represents a $7.60 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date is Monday, December 14th.

Separately, TheStreet downgraded NewMarket from a “b” rating to a “c+” rating in a research note on Wednesday, July 29th.

NewMarket Company Profile

NewMarket Corporation, through its subsidiaries, engages in the petroleum additives businesses. 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; and engine oil, driveline, and industrial additives.

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Institutional Ownership by Quarter for NewMarket (NYSE:NEU)

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