SRS Capital Advisors Inc. grew its holdings in NewMarket Co. (NYSE:NEU – Get Rating) by 15.6% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 259 shares of the specialty chemicals company's stock after buying an additional 35 shares during the period. SRS Capital Advisors Inc.'s holdings in NewMarket were worth $84,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. GHP Investment Advisors Inc. acquired a new position in shares of NewMarket during the first quarter worth about $27,000. Covestor Ltd acquired a new position in shares of NewMarket during the fourth quarter worth about $115,000. Hightower 6M Holding LLC acquired a new position in shares of NewMarket during the first quarter worth about $225,000. Inspire Investing LLC acquired a new position in NewMarket during the first quarter worth about $236,000. Finally, Fractal Investments LLC acquired a new position in NewMarket during the fourth quarter worth about $240,000. 65.94% of the stock is owned by hedge funds and other institutional investors.
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Analyst Ratings Changes
Separately, StockNews.com lowered shares of NewMarket from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, August 23rd.
NewMarket Trading Up 0.3 %
Shares of NEU opened at $288.58 on Tuesday. The firm's 50-day moving average is $301.53 and its two-hundred day moving average is $316.62. The firm has a market capitalization of $2.89 billion, a P/E ratio of 15.40 and a beta of 0.36. NewMarket Co. has a twelve month low of $284.97 and a twelve month high of $378.63. The company has a current ratio of 2.60, a quick ratio of 1.41 and a debt-to-equity ratio of 1.26.
NewMarket Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Thursday, September 15th will be given a $2.10 dividend. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $8.40 annualized dividend and a dividend yield of 2.91%. NewMarket's dividend payout ratio is presently 44.82%.
NewMarket Company Profile
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NewMarket Corporation, through its subsidiaries, engages in the petroleum additives business. 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.
Further Reading
- Get a free copy of the StockNews.com research report on NewMarket (NEU)
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