Resona Asset Management Co. Ltd. purchased a new stake in shares of NewMarket Co. (NYSE:NEU - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 1,289 shares of the specialty chemicals company's stock, valued at approximately $681,000.
A number of other large investors have also recently added to or reduced their stakes in the business. Assetmark Inc. increased its position in shares of NewMarket by 0.6% during the 4th quarter. Assetmark Inc. now owns 3,118 shares of the specialty chemicals company's stock worth $1,647,000 after purchasing an additional 20 shares during the last quarter. Atria Investments Inc increased its position in shares of NewMarket by 1.6% during the fourth quarter. Atria Investments Inc now owns 1,302 shares of the specialty chemicals company's stock valued at $688,000 after acquiring an additional 20 shares during the last quarter. Oregon Public Employees Retirement Fund raised its stake in shares of NewMarket by 1.7% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,561 shares of the specialty chemicals company's stock valued at $825,000 after acquiring an additional 26 shares during the period. Parallel Advisors LLC raised its stake in shares of NewMarket by 4.3% in the 4th quarter. Parallel Advisors LLC now owns 735 shares of the specialty chemicals company's stock valued at $388,000 after acquiring an additional 30 shares during the period. Finally, Exchange Traded Concepts LLC lifted its holdings in shares of NewMarket by 2.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 1,398 shares of the specialty chemicals company's stock worth $739,000 after acquiring an additional 35 shares during the last quarter. 61.09% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Separately, StockNews.com lowered shares of NewMarket from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, February 19th.
Read Our Latest Analysis on NEU
NewMarket Stock Up 0.6 %
Shares of NEU stock traded up $3.55 during trading hours on Wednesday, reaching $565.40. 2,924 shares of the stock were exchanged, compared to its average volume of 46,737. The firm has a market capitalization of $5.36 billion, a P/E ratio of 11.73 and a beta of 0.44. The business's fifty day moving average is $546.62 and its two-hundred day moving average is $532.76. NewMarket Co. has a 12-month low of $480.00 and a 12-month high of $596.89. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.75 and a quick ratio of 1.40.
NewMarket (NYSE:NEU - Get Free Report) last issued its quarterly earnings data on Monday, February 3rd. The specialty chemicals company reported $11.56 earnings per share for the quarter. NewMarket had a net margin of 16.59% and a return on equity of 35.48%.
NewMarket Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 17th were issued a dividend of $2.75 per share. The ex-dividend date of this dividend was Monday, March 17th. This is an increase from NewMarket's previous quarterly dividend of $2.50. This represents a $11.00 annualized dividend and a dividend yield of 1.95%. NewMarket's dividend payout ratio (DPR) is currently 22.82%.
NewMarket Profile
(
Free Report)
NewMarket Corporation, through its subsidiaries, primarily engages in the manufacture and sale of petroleum additives. 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; engine oil additives designed for passenger cars, motorcycles, on and off-road heavy duty commercial equipment, locomotives, and engines in ocean-going vessels; driveline additives designed for products, such as transmission fluids, axle fluids, and off-road powertrain fluids; and industrial additives designed for products for industrial applications consisting of hydraulic fluids, grease, industrial gear fluids, and industrial specialty applications, such as turbine oils.
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