Bank of America Corp DE increased its stake in NewMarket Co. (NYSE:NEU – Get Rating) by 0.4% in the 1st quarter, HoldingsChannel.com reports. The firm owned 811,226 shares of the specialty chemicals company's stock after buying an additional 3,091 shares during the quarter. Bank of America Corp DE owned about 0.08% of NewMarket worth $263,146,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. GHP Investment Advisors Inc. acquired a new stake in NewMarket in the first quarter worth about $27,000. SRS Capital Advisors Inc. lifted its holdings in NewMarket by 15.6% in the 1st quarter. SRS Capital Advisors Inc. now owns 259 shares of the specialty chemicals company's stock valued at $84,000 after acquiring an additional 35 shares during the last quarter. Covestor Ltd lifted its holdings in NewMarket by 69.6% in the 1st quarter. Covestor Ltd now owns 570 shares of the specialty chemicals company's stock valued at $185,000 after acquiring an additional 234 shares during the last quarter. Hightower 6M Holding LLC acquired a new stake in NewMarket in the 1st quarter valued at about $225,000. Finally, Inspire Investing LLC acquired a new stake in NewMarket in the 1st quarter valued at about $236,000. Institutional investors and hedge funds own 65.94% of the company's stock.
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NewMarket Price Performance
Shares of NYSE NEU opened at $300.48 on Tuesday. NewMarket Co. has a twelve month low of $280.28 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. The company has a market capitalization of $3.01 billion, a price-to-earnings ratio of 16.03 and a beta of 0.37. The firm has a 50-day moving average of $299.77 and a two-hundred day moving average of $313.93.
NewMarket Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Thursday, September 15th will be issued a dividend of $2.10 per share. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $8.40 annualized dividend and a yield of 2.80%. NewMarket's payout ratio is presently 44.82%.
Analyst Upgrades and Downgrades
Separately, StockNews.com downgraded shares of NewMarket from a "strong-buy" rating to a "buy" rating in a report on Tuesday, August 23rd.
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.
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