Y Intercept Hong Kong Ltd Sells 5,543 Shares of NewMarket Corporation $NEU

Y Intercept Hong Kong Ltd reduced its holdings in NewMarket Corporation (NYSE:NEU) by 70.8% during the first quarter, Holdings Channel.com reports. The institutional investor owned 2,281 shares of the specialty chemicals company’s stock after selling 5,543 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in NewMarket were worth $1,462,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in NEU. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of NewMarket by 100.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78 shares of the specialty chemicals company’s stock valued at $44,000 after acquiring an additional 39 shares in the last quarter. NewEdge Advisors LLC boosted its holdings in NewMarket by 1,442.4% in the first quarter. NewEdge Advisors LLC now owns 509 shares of the specialty chemicals company’s stock valued at $288,000 after acquiring an additional 476 shares in the last quarter. United Services Automobile Association purchased a new position in NewMarket during the 1st quarter valued at $266,000. Empowered Funds LLC increased its position in NewMarket by 4.8% during the 1st quarter. Empowered Funds LLC now owns 1,562 shares of the specialty chemicals company’s stock valued at $885,000 after purchasing an additional 72 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in NewMarket by 9.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 22,268 shares of the specialty chemicals company’s stock worth $12,614,000 after purchasing an additional 1,995 shares in the last quarter. 61.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings raised shares of NewMarket from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, June 12th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, NewMarket currently has an average rating of “Buy”.

NewMarket Stock Down 0.1%

Shares of NEU stock traded down $1.10 during midday trading on Friday, reaching $765.36. 69,935 shares of the stock were exchanged, compared to its average volume of 99,523. NewMarket Corporation has a 1 year low of $580.03 and a 1 year high of $875.97. The company’s 50 day moving average is $761.53 and its two-hundred day moving average is $691.51. The company has a current ratio of 2.55, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. The firm has a market cap of $7.04 billion, a PE ratio of 17.48 and a beta of 0.56.

NewMarket (NYSE:NEU) last announced its earnings results on Wednesday, April 22nd. The specialty chemicals company reported $12.62 earnings per share (EPS) for the quarter. NewMarket had a return on equity of 24.12% and a net margin of 15.25%.The firm had revenue of $669.72 million during the quarter.

NewMarket Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th were issued a $3.00 dividend. The ex-dividend date was Monday, June 15th. This represents a $12.00 dividend on an annualized basis and a yield of 1.6%. NewMarket’s dividend payout ratio is 27.41%.

NewMarket Profile

NewMarket Corporation is a specialty chemicals and lubricants company headquartered in Richmond, Virginia. Through its Valvoline business, the company markets a broad portfolio of automotive aftermarket products, including engine oils, transmission fluids, greases and vehicle care solutions. Valvoline products are distributed through retail and commercial channels as well as a network of quick-lube service centers that provide oil changes, preventive maintenance and related services.

In its chemical additives segment, NewMarket develops, manufactures and sells performance additives for fuels, lubricants and industrial fluids.