Raymond James Financial Inc. Makes New Investment in NewMarket Co. (NYSE:NEU)

Raymond James Financial Inc. acquired a new position in shares of NewMarket Co. (NYSE:NEU - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,054 shares of the specialty chemicals company's stock, valued at approximately $1,613,000.

A number of other hedge funds have also bought and sold shares of NEU. Barclays PLC lifted its stake in NewMarket by 34.5% in the third quarter. Barclays PLC now owns 4,813 shares of the specialty chemicals company's stock valued at $2,656,000 after buying an additional 1,235 shares during the period. Janney Montgomery Scott LLC acquired a new position in shares of NewMarket during the 4th quarter valued at $252,000. Empowered Funds LLC lifted its position in shares of NewMarket by 61.3% during the 4th quarter. Empowered Funds LLC now owns 1,490 shares of the specialty chemicals company's stock valued at $787,000 after acquiring an additional 566 shares during the period. JPMorgan Chase & Co. grew its holdings in NewMarket by 1.4% in the third quarter. JPMorgan Chase & Co. now owns 50,585 shares of the specialty chemicals company's stock worth $27,917,000 after purchasing an additional 722 shares during the period. Finally, Principal Securities Inc. increased its stake in NewMarket by 10.9% in the fourth quarter. Principal Securities Inc. now owns 357 shares of the specialty chemicals company's stock valued at $189,000 after purchasing an additional 35 shares in the last quarter. Institutional investors own 61.09% of the company's stock.

NewMarket Stock Down 2.4 %

Shares of NYSE NEU traded down $13.29 during midday trading on Friday, hitting $544.42. 67,271 shares of the stock traded hands, compared to its average volume of 36,269. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.40 and a current ratio of 2.75. NewMarket Co. has a one year low of $480.00 and a one year high of $624.91. The business has a 50 day moving average price of $538.89 and a two-hundred day moving average price of $532.97. The company has a market cap of $5.16 billion, a PE ratio of 11.29 and a beta of 0.41.

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

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 is a boost from NewMarket's previous quarterly dividend of $2.50. The ex-dividend date of this dividend was Monday, March 17th. This represents a $11.00 annualized dividend and a yield of 2.02%. NewMarket's dividend payout ratio (DPR) is presently 22.82%.

Wall Street Analyst Weigh In

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

About NewMarket

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.