Taylor Hoffman Wealth Management reduced its stake in NewMarket Co. (NYSE:NEU) by 11.6% during the 1st quarter, Holdings Channel reports. The firm owned 2,617 shares of the specialty chemicals company’s stock after selling 344 shares during the period. Taylor Hoffman Wealth Management’s holdings in NewMarket were worth $1,135,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of NEU. Norges Bank bought a new position in shares of NewMarket in the 4th quarter worth $32,229,000. Ellis Investment Partners LLC bought a new position in shares of NewMarket in the 1st quarter worth $46,000. WINTON GROUP Ltd boosted its position in shares of NewMarket by 154.9% in the 4th quarter. WINTON GROUP Ltd now owns 69,098 shares of the specialty chemicals company’s stock worth $28,475,000 after purchasing an additional 41,988 shares during the last quarter. Pennsylvania Trust Co bought a new position in shares of NewMarket in the 1st quarter worth $3,601,000. Finally, BlackRock Inc. boosted its position in shares of NewMarket by 1.7% in the 4th quarter. BlackRock Inc. now owns 767,633 shares of the specialty chemicals company’s stock worth $316,334,000 after purchasing an additional 12,839 shares during the last quarter. Institutional investors and hedge funds own 55.82% of the company’s stock.

Shares of NYSE:NEU traded up $0.98 during midday trading on Friday, hitting $409.45. The company had a trading volume of 403 shares, compared to its average volume of 43,494. NewMarket Co. has a 12 month low of $352.89 and a 12 month high of $452.54. The company has a quick ratio of 1.77, a current ratio of 3.29 and a debt-to-equity ratio of 1.53. The firm has a market capitalization of $4.54 billion, a P/E ratio of 20.06 and a beta of 0.47.

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

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 17th will be issued a dividend of $1.75 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $7.00 annualized dividend and a yield of 1.71%. NewMarket’s dividend payout ratio is presently 34.41%.

Separately, Buckingham Research started coverage on NewMarket in a research report on Monday, April 1st. They issued an “underperform” rating and a $380.00 price target on the stock.

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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, 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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