KLP Kapitalforvaltning AS Buys New Shares in NewMarket Co. (NYSE:NEU)

KLP Kapitalforvaltning AS purchased a new position in shares of NewMarket Co. (NYSE:NEU - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 3,200 shares of the specialty chemicals company's stock, valued at approximately $1,698,000.

Other large investors have also bought and sold shares of the company. Thrivent Financial for Lutherans boosted its position in NewMarket by 8.0% during the 3rd quarter. Thrivent Financial for Lutherans now owns 1,803 shares of the specialty chemicals company's stock valued at $995,000 after buying an additional 134 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of NewMarket by 10.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 78,746 shares of the specialty chemicals company's stock valued at $43,459,000 after acquiring an additional 7,719 shares during the last quarter. Citigroup Inc. grew its stake in shares of NewMarket by 51.2% in the third quarter. Citigroup Inc. now owns 6,679 shares of the specialty chemicals company's stock worth $3,686,000 after purchasing an additional 2,262 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in NewMarket during the 3rd quarter valued at about $275,000. Finally, The Manufacturers Life Insurance Company raised its position in NewMarket by 5.0% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 6,186 shares of the specialty chemicals company's stock valued at $3,414,000 after purchasing an additional 294 shares during the last quarter. 61.09% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com lowered NewMarket from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, February 19th.

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NewMarket Stock Down 0.1 %

Shares of NewMarket stock traded down $0.80 during trading on Wednesday, hitting $565.76. The company's stock had a trading volume of 52,873 shares, compared to its average volume of 36,122. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.40 and a current ratio of 2.75. The company has a fifty day simple moving average of $536.70 and a two-hundred day simple moving average of $533.17. NewMarket Co. has a 52 week low of $480.00 and a 52 week high of $632.60. The company has a market capitalization of $5.37 billion, a PE ratio of 11.74 and a beta of 0.41.

NewMarket (NYSE:NEU - Get Free Report) last announced 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. Shareholders of record on Monday, March 17th were issued a dividend of $2.75 per share. This represents a $11.00 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend was Monday, March 17th. This is a positive change from NewMarket's previous quarterly dividend of $2.50. NewMarket's payout ratio is currently 22.82%.

NewMarket Company 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.