Franklin Resources Inc. Buys 5,577 Shares of NewMarket Co. (NYSE:NEU)

Franklin Resources Inc. boosted its position in shares of NewMarket Co. (NYSE:NEU - Free Report) by 115.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 10,416 shares of the specialty chemicals company's stock after purchasing an additional 5,577 shares during the quarter. Franklin Resources Inc. owned about 0.11% of NewMarket worth $5,503,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Eagle Bay Advisors LLC purchased a new stake in shares of NewMarket during the 4th quarter valued at about $40,000. Centricity Wealth Management LLC bought a new position in shares of NewMarket in the fourth quarter worth about $56,000. Blue Trust Inc. lifted its position in shares of NewMarket by 55.3% during the 4th quarter. Blue Trust Inc. now owns 118 shares of the specialty chemicals company's stock valued at $65,000 after buying an additional 42 shares in the last quarter. Kohmann Bosshard Financial Services LLC bought a new position in shares of NewMarket during the 4th quarter valued at approximately $74,000. Finally, Steward Partners Investment Advisory LLC increased its holdings in NewMarket by 481.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 157 shares of the specialty chemicals company's stock worth $83,000 after acquiring an additional 130 shares in the last quarter. 61.09% of the stock is owned by institutional investors.

NewMarket Price Performance

Shares of NEU stock traded up $0.94 during mid-day trading on Wednesday, hitting $562.79. The company had a trading volume of 2,358 shares, compared to its average volume of 36,461. The company has a market capitalization of $5.34 billion, a P/E ratio of 11.64 and a beta of 0.44. The stock's 50 day moving average price is $546.62 and its 200-day moving average price is $532.76. NewMarket Co. has a 52-week low of $480.00 and a 52-week 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.

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NewMarket (NYSE:NEU - Get Free Report) last issued its earnings results on Monday, February 3rd. The specialty chemicals company reported $11.56 earnings per share (EPS) for the quarter. NewMarket had a return on equity of 35.48% and a net margin of 16.59%.

NewMarket Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 17th were given a $2.75 dividend. This represents a $11.00 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend was Monday, March 17th. This is a boost from NewMarket's previous quarterly dividend of $2.50. NewMarket's payout ratio is currently 22.82%.

Analyst Ratings Changes

Separately, StockNews.com cut shares of NewMarket from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, February 19th.

NewMarket Profile

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.