Public Employees Retirement Association of Colorado Lowers Stake in NewMarket Co. (NEU)

Public Employees Retirement Association of Colorado cut its holdings in NewMarket Co. (NYSE:NEU) by 19.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,154 shares of the specialty chemicals company’s stock after selling 282 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in NewMarket were worth $500,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in NEU. Berman Capital Advisors LLC acquired a new stake in NewMarket during the fourth quarter worth approximately $25,000. Oppenheimer Asset Management Inc. acquired a new stake in NewMarket during the fourth quarter worth approximately $37,000. Contravisory Investment Management Inc. acquired a new stake in NewMarket during the first quarter worth approximately $117,000. BNP Paribas Arbitrage SA boosted its position in NewMarket by 74.7% during the first quarter. BNP Paribas Arbitrage SA now owns 290 shares of the specialty chemicals company’s stock worth $126,000 after acquiring an additional 124 shares during the last quarter. Finally, Ffcm LLC boosted its position in NewMarket by 187.6% during the fourth quarter. Ffcm LLC now owns 348 shares of the specialty chemicals company’s stock worth $143,000 after acquiring an additional 227 shares during the last quarter. Institutional investors and hedge funds own 60.61% of the company’s stock.

Separately, Buckingham Research assumed coverage on shares of NewMarket in a report on Monday, April 1st. They set an “underperform” rating and a $380.00 price target for the company.

In other NewMarket news, Chairman Thomas E. Gottwald sold 11,000 shares of the stock in a transaction dated Friday, February 22nd. The shares were sold at an average price of $437.84, for a total transaction of $4,816,240.00. Following the sale, the chairman now owns 145,168 shares of the company’s stock, valued at approximately $63,560,357.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 17.02% of the stock is currently owned by corporate insiders.

NYSE NEU opened at $416.76 on Friday. The company has a market capitalization of $4.66 billion, a P/E ratio of 20.49 and a beta of 0.47. The company has a debt-to-equity ratio of 1.53, a quick ratio of 1.77 and a current ratio of 3.29. NewMarket Co. has a 12 month low of $352.89 and a 12 month high of $452.54.

NewMarket (NYSE:NEU) last posted its earnings results on Wednesday, April 24th. The specialty chemicals company reported $5.57 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $5.81 by ($0.24). The business had revenue of $536.62 million during the quarter. NewMarket had a net margin of 10.57% and a return on equity of 44.09%. On average, research analysts expect that NewMarket Co. will post 21.41 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 17th will be issued a $1.75 dividend. This represents a $7.00 annualized dividend and a dividend yield of 1.68%. The ex-dividend date is Friday, June 14th. NewMarket’s payout ratio is 34.41%.

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NewMarket 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, metalworking fluids, 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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