Zebra Capital Management LLC lessened its stake in NewMarket Co. (NYSE:NEU) by 30.7% during the 2nd quarter, HoldingsChannel reports. The firm owned 2,024 shares of the specialty chemicals company’s stock after selling 898 shares during the quarter. Zebra Capital Management LLC’s holdings in NewMarket were worth $819,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in NEU. BlackRock Inc. lifted its position in shares of NewMarket by 1.7% during the 1st quarter. BlackRock Inc. now owns 762,711 shares of the specialty chemicals company’s stock valued at $306,366,000 after buying an additional 13,026 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of NewMarket by 28.6% during the 2nd quarter. Janus Henderson Group PLC now owns 282,698 shares of the specialty chemicals company’s stock valued at $114,351,000 after buying an additional 62,897 shares in the last quarter. Neuberger Berman Group LLC lifted its position in shares of NewMarket by 19.6% during the 1st quarter. Neuberger Berman Group LLC now owns 177,630 shares of the specialty chemicals company’s stock valued at $71,350,000 after buying an additional 29,104 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of NewMarket by 16.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 85,794 shares of the specialty chemicals company’s stock valued at $34,702,000 after buying an additional 12,338 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its position in shares of NewMarket by 11.5% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 56,130 shares of the specialty chemicals company’s stock valued at $22,705,000 after buying an additional 5,801 shares in the last quarter. Institutional investors and hedge funds own 58.34% of the company’s stock.

Shares of NYSE:NEU opened at $397.81 on Friday. NewMarket Co. has a 1 year low of $358.33 and a 1 year high of $437.63. The company has a market cap of $4.53 billion, a PE ratio of 22.27 and a beta of 0.71. The company has a debt-to-equity ratio of 1.38, a quick ratio of 1.83 and a current ratio of 3.19.

NewMarket (NYSE:NEU) last announced its earnings results on Wednesday, August 8th. The specialty chemicals company reported $4.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.68 by ($1.15). NewMarket had a net margin of 7.72% and a return on equity of 34.25%. The business had revenue of $599.00 million for the quarter, compared to analysts’ expectations of $601.00 million. During the same quarter last year, the business earned $5.29 EPS. The company’s quarterly revenue was up 9.5% on a year-over-year basis.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 1st. Shareholders of record on Monday, September 17th will be issued a $1.75 dividend. The ex-dividend date of this dividend is Friday, September 14th. This represents a $7.00 dividend on an annualized basis and a yield of 1.76%.

Separately, ValuEngine lowered NewMarket from a “hold” rating to a “sell” rating in a research report on Saturday, June 2nd.

NewMarket Profile

NewMarket Corporation, through its subsidiaries, engages in the petroleum additives businesses. It offers lubricant additives for use in various vehicle and industrial applications, such as engine oils, transmission fluids, off-road powertrain and hydraulic systems, gear oils, hydraulic oils, turbine oils, metalworking fluids, and in 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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