The Manufacturers Life Insurance Company Trims Holdings in NewMarket Co. (NYSE:NEU)

The Manufacturers Life Insurance Company reduced its holdings in shares of NewMarket Co. (NYSE:NEU) by 2.4% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 7,868 shares of the specialty chemicals company’s stock after selling 191 shares during the period. The Manufacturers Life Insurance Company’s holdings in NewMarket were worth $2,533,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in NEU. SRS Capital Advisors Inc. purchased a new position in shares of NewMarket during the 2nd quarter valued at approximately $79,000. IFP Advisors Inc boosted its stake in shares of NewMarket by 2,433.3% during the 2nd quarter. IFP Advisors Inc now owns 304 shares of the specialty chemicals company’s stock valued at $99,000 after buying an additional 292 shares during the last quarter. AGF Investments Inc. raised its position in shares of NewMarket by 56.5% during the 2nd quarter. AGF Investments Inc. now owns 582 shares of the specialty chemicals company’s stock valued at $187,000 after acquiring an additional 210 shares in the last quarter. Shell Asset Management Co. raised its position in shares of NewMarket by 6.1% during the 2nd quarter. Shell Asset Management Co. now owns 700 shares of the specialty chemicals company’s stock valued at $225,000 after acquiring an additional 40 shares in the last quarter. Finally, Quadrature Capital Ltd acquired a new stake in shares of NewMarket during the 1st quarter valued at approximately $228,000. Institutional investors own 55.67% of the company’s stock.

In other NewMarket news, Director James E. Rogers sold 590 shares of the stock in a transaction on Friday, August 27th. The stock was sold at an average price of $340.72, for a total value of $201,024.80. The sale was disclosed in a document filed with the SEC, which is available through this link. 18.80% of the stock is owned by company insiders.

NEU stock opened at $361.59 on Thursday. The company has a current ratio of 3.83, a quick ratio of 2.59 and a debt-to-equity ratio of 1.17. The firm has a market cap of $3.95 billion, a P/E ratio of 13.90 and a beta of 0.35. NewMarket Co. has a 12-month low of $297.29 and a 12-month high of $432.55. The stock’s 50 day simple moving average is $340.72 and its 200 day simple moving average is $340.68.

NewMarket (NYSE:NEU) last posted its quarterly earnings results on Wednesday, July 28th. The specialty chemicals company reported $4.75 earnings per share (EPS) for the quarter. The business had revenue of $590.72 million for the quarter. NewMarket had a return on equity of 36.19% and a net margin of 12.94%.

The business also recently announced a quarterly dividend, which was paid on Friday, October 1st. Shareholders of record on Wednesday, September 15th were given a $2.10 dividend. The ex-dividend date was Tuesday, September 14th. This is a positive change from NewMarket’s previous quarterly dividend of $1.90. This represents a $8.40 annualized dividend and a yield of 2.32%.

Separately, TheStreet raised NewMarket from a “c+” rating to a “b-” rating in a research report on Friday, September 3rd.

About NewMarket

NewMarket Corp. operates as a holding company. The firm segments include petroleum, lubricant, fuel, engine oil and driveline additives. It develops and manufactures lubricant and fuel additive packages, as well as markets and sells these products. The company also comprises of the sale of tetraethyl lead.

Recommended Story: Commodities

Want to see what other hedge funds are holding NEU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NewMarket Co. (NYSE:NEU).

Institutional Ownership by Quarter for NewMarket (NYSE:NEU)

Receive News & Ratings for NewMarket Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NewMarket and related companies with MarketBeat.com's FREE daily email newsletter.