Russell Investments Group Ltd. boosted its stake in NewMarket Co. (NYSE:NEU - Free Report) by 41.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,075 shares of the specialty chemicals company's stock after buying an additional 2,082 shares during the period. Russell Investments Group Ltd. owned 0.07% of NewMarket worth $3,738,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Barclays PLC increased its stake in shares of NewMarket by 34.5% during the third quarter. Barclays PLC now owns 4,813 shares of the specialty chemicals company's stock valued at $2,656,000 after acquiring an additional 1,235 shares during the period. Janney Montgomery Scott LLC bought a new stake in shares of NewMarket in the 4th quarter worth $252,000. Empowered Funds LLC lifted its holdings in shares of NewMarket by 61.3% in the fourth quarter. Empowered Funds LLC now owns 1,490 shares of the specialty chemicals company's stock valued at $787,000 after buying an additional 566 shares during the period. Envestnet Portfolio Solutions Inc. boosted its stake in NewMarket by 5.6% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 1,042 shares of the specialty chemicals company's stock valued at $550,000 after buying an additional 55 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in NewMarket by 1.4% during the third quarter. JPMorgan Chase & Co. now owns 50,585 shares of the specialty chemicals company's stock worth $27,917,000 after acquiring an additional 722 shares during the period. 61.09% of the stock is currently owned by institutional investors.
NewMarket Price Performance
Shares of NYSE NEU traded down $4.25 during trading on Monday, hitting $559.79. The company had a trading volume of 28,900 shares, compared to its average volume of 36,566. The company has a market cap of $5.31 billion, a P/E ratio of 11.61 and a beta of 0.44. 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 business's 50-day moving average is $549.25 and its 200 day moving average is $533.34. NewMarket Co. has a 52 week low of $480.00 and a 52 week high of $596.89.
NewMarket (NYSE:NEU - Get Free Report) last announced its earnings results on Monday, February 3rd. The specialty chemicals company reported $11.56 EPS for the quarter. NewMarket had a return on equity of 35.48% and a net margin of 16.59%.
NewMarket Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th were given a $2.75 dividend. 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 1.97%. The ex-dividend date of this dividend was Monday, March 17th. NewMarket's dividend payout ratio (DPR) is 22.82%.
Wall Street Analyst Weigh In
Separately, StockNews.com lowered shares of NewMarket from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, February 19th.
Get Our Latest Stock Report on NEU
NewMarket Company 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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