TD Asset Management Inc Sells 1,500 Shares of NewMarket Co. (NYSE:NEU)

TD Asset Management Inc reduced its stake in shares of NewMarket Co. (NYSE:NEU) by 8.5% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 16,200 shares of the specialty chemicals company’s stock after selling 1,500 shares during the period. TD Asset Management Inc’s holdings in NewMarket were worth $6,514,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NEU. First Trust Advisors LP increased its holdings in NewMarket by 23.9% during the 1st quarter. First Trust Advisors LP now owns 288,937 shares of the specialty chemicals company’s stock worth $93,725,000 after purchasing an additional 55,691 shares in the last quarter. Norges Bank bought a new stake in NewMarket during the 4th quarter worth approximately $16,953,000. LSV Asset Management increased its holdings in NewMarket by 39.2% during the 2nd quarter. LSV Asset Management now owns 141,092 shares of the specialty chemicals company’s stock worth $56,736,000 after purchasing an additional 39,743 shares in the last quarter. Victory Capital Management Inc. increased its holdings in NewMarket by 166.3% during the 4th quarter. Victory Capital Management Inc. now owns 42,088 shares of the specialty chemicals company’s stock worth $13,094,000 after purchasing an additional 26,281 shares in the last quarter. Finally, Acadian Asset Management LLC grew its holdings in shares of NewMarket by 465.0% in the second quarter. Acadian Asset Management LLC now owns 26,660 shares of the specialty chemicals company’s stock valued at $10,710,000 after acquiring an additional 21,941 shares in the last quarter. 60.99% of the stock is owned by institutional investors.

NewMarket Stock Performance

NEU stock opened at $516.44 on Tuesday. The firm has a market cap of $4.95 billion, a PE ratio of 12.50 and a beta of 0.37. The company has a quick ratio of 1.69, a current ratio of 3.21 and a debt-to-equity ratio of 0.80. The business has a 50 day moving average of $468.39 and a 200-day moving average of $441.68. NewMarket Co. has a 12-month low of $297.62 and a 12-month high of $518.31.

NewMarket (NYSE:NEU) last released its earnings results on Wednesday, October 25th. The specialty chemicals company reported $11.60 earnings per share (EPS) for the quarter. The company had revenue of $667.15 million during the quarter. NewMarket had a return on equity of 46.27% and a net margin of 14.57%.

NewMarket Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 15th will be paid a $2.25 dividend. The ex-dividend date is Thursday, December 14th. This represents a $9.00 annualized dividend and a yield of 1.74%. NewMarket’s payout ratio is 21.79%.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised NewMarket from a “buy” rating to a “strong-buy” rating in a report on Friday, October 13th.

About NewMarket

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.