Lazard Asset Management LLC Sells 6,842 Shares of NewMarket Co. (NYSE:NEU)

Lazard Asset Management LLC cut its position in shares of NewMarket Co. (NYSE:NEU) by 47.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,591 shares of the specialty chemicals company’s stock after selling 6,842 shares during the period. Lazard Asset Management LLC owned approximately 0.08% of NewMarket worth $4,010,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Barclays PLC lifted its stake in shares of NewMarket by 34.5% in the 3rd quarter. Barclays PLC now owns 4,813 shares of the specialty chemicals company’s stock valued at $2,656,000 after purchasing an additional 1,235 shares during the last quarter. Janney Montgomery Scott LLC bought a new stake in shares of NewMarket in the 4th quarter valued at approximately $252,000. Empowered Funds LLC lifted its stake in shares of NewMarket by 61.3% in the 4th quarter. Empowered Funds LLC now owns 1,490 shares of the specialty chemicals company’s stock valued at $787,000 after purchasing an additional 566 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its stake in shares of NewMarket by 5.6% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 1,042 shares of the specialty chemicals company’s stock valued at $550,000 after purchasing an additional 55 shares during the last quarter. Finally, Principal Securities Inc. lifted its stake in shares of NewMarket by 10.9% in the 4th quarter. Principal Securities Inc. now owns 357 shares of the specialty chemicals company’s stock valued at $189,000 after purchasing an additional 35 shares during the last quarter. 61.09% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered NewMarket from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 19th.

Insider Transactions at NewMarket

In other NewMarket news, CAO Bruce R. Hazelgrove III sold 311 shares of the firm’s stock in a transaction on Monday, May 12th. The stock was sold at an average price of $642.43, for a total transaction of $199,795.73. Following the transaction, the chief accounting officer now directly owns 358 shares in the company, valued at $229,989.94. This trade represents a 46.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 19.10% of the company’s stock.

NewMarket Trading Up 1.9%

Shares of NYSE NEU opened at $645.88 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.40 and a current ratio of 2.75. The business’s 50 day moving average price is $572.56 and its 200-day moving average price is $544.60. NewMarket Co. has a fifty-two week low of $480.00 and a fifty-two week high of $649.38. The company has a market cap of $6.09 billion, a price-to-earnings ratio of 13.40 and a beta of 0.41.

NewMarket (NYSE:NEU) last issued its quarterly earnings results on Wednesday, April 23rd. The specialty chemicals company reported $13.26 earnings per share for the quarter. NewMarket had a return on equity of 35.48% and a net margin of 16.59%. The firm had revenue of $700.95 million for the quarter.

NewMarket Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 16th will be issued a $2.75 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $11.00 annualized dividend and a dividend yield of 1.70%. NewMarket’s payout ratio is 21.89%.

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.