Acadian Asset Management LLC Acquires 1,733 Shares of NewMarket Co. (NYSE:NEU)

Acadian Asset Management LLC lifted its holdings in NewMarket Co. (NYSE:NEU) by 14.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,843 shares of the specialty chemicals company’s stock after buying an additional 1,733 shares during the quarter. Acadian Asset Management LLC owned about 0.13% of NewMarket worth $4,739,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. London Co. of Virginia raised its holdings in shares of NewMarket by 8.2% in the second quarter. London Co. of Virginia now owns 591,393 shares of the specialty chemicals company’s stock valued at $236,841,000 after buying an additional 44,920 shares during the last quarter. First Trust Advisors LP boosted its holdings in shares of NewMarket by 2,500.8% in the 3rd quarter. First Trust Advisors LP now owns 160,313 shares of the specialty chemicals company’s stock valued at $54,878,000 after buying an additional 154,149 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in shares of NewMarket by 135.9% in the 3rd quarter. Wells Fargo & Company MN now owns 119,474 shares of the specialty chemicals company’s stock valued at $40,899,000 after buying an additional 68,838 shares during the last quarter. Bank of New York Mellon Corp raised its stake in NewMarket by 0.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 105,954 shares of the specialty chemicals company’s stock valued at $42,432,000 after acquiring an additional 975 shares during the period. Finally, New York State Common Retirement Fund raised its stake in NewMarket by 30.1% in the 3rd quarter. New York State Common Retirement Fund now owns 86,346 shares of the specialty chemicals company’s stock valued at $29,558,000 after acquiring an additional 19,967 shares during the period. 56.71% of the stock is owned by institutional investors and hedge funds.

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

NEU opened at $367.06 on Friday. NewMarket Co. has a 1-year low of $304.65 and a 1-year high of $498.15. The stock’s fifty day simple moving average is $360.09 and its 200 day simple moving average is $386.08. The company has a current ratio of 2.77, a quick ratio of 1.57 and a debt-to-equity ratio of 0.84. The stock has a market cap of $4.01 billion, a PE ratio of 15.98 and a beta of 0.41.

NewMarket (NYSE:NEU) last posted its quarterly earnings results on Wednesday, October 28th. The specialty chemicals company reported $8.77 earnings per share 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 business also recently announced a quarterly dividend, which will be paid on Monday, January 4th. Stockholders of record on Tuesday, December 15th will be issued a dividend of $1.90 per share. This represents a $7.60 annualized dividend and a dividend yield of 2.07%. The ex-dividend date is Monday, December 14th.

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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