Pinebridge Investments L.P. raised its stake in NewMarket Co. (NYSE:NEU – Get Rating) by 14.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,511 shares of the specialty chemicals company's stock after buying an additional 1,339 shares during the period. Pinebridge Investments L.P. owned about 0.10% of NewMarket worth $3,410,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors also recently added to or reduced their stakes in NEU. American Century Companies Inc. boosted its position in NewMarket by 124.0% in the 4th quarter. American Century Companies Inc. now owns 16,411 shares of the specialty chemicals company's stock valued at $5,624,000 after buying an additional 9,086 shares during the period. ProShare Advisors LLC raised its holdings in shares of NewMarket by 5.0% in the 4th quarter. ProShare Advisors LLC now owns 1,088 shares of the specialty chemicals company's stock valued at $374,000 after purchasing an additional 52 shares in the last quarter. Fractal Investments LLC bought a new stake in shares of NewMarket in the 4th quarter valued at about $240,000. Dimensional Fund Advisors LP raised its holdings in shares of NewMarket by 3.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 107,376 shares of the specialty chemicals company's stock valued at $36,802,000 after purchasing an additional 3,159 shares in the last quarter. Finally, Lazard Asset Management LLC raised its holdings in shares of NewMarket by 878.0% in the 4th quarter. Lazard Asset Management LLC now owns 13,173 shares of the specialty chemicals company's stock valued at $4,514,000 after purchasing an additional 11,826 shares in the last quarter. 54.72% of the stock is owned by hedge funds and other institutional investors.
Get NewMarket alerts:NewMarket Trading Down 2.4 %
NYSE NEU opened at $287.64 on Monday. The company has a quick ratio of 1.41, a current ratio of 2.60 and a debt-to-equity ratio of 1.26. The firm has a market cap of $2.88 billion, a PE ratio of 15.35 and a beta of 0.36. The company has a 50 day moving average price of $301.54 and a 200 day moving average price of $316.79. NewMarket Co. has a 52 week low of $285.60 and a 52 week high of $378.63.
NewMarket Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Thursday, September 15th will be paid 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 dividend yield of 2.92%. NewMarket's dividend payout ratio (DPR) is presently 44.82%.Wall Street Analysts Forecast Growth
Separately, StockNews.com lowered shares of NewMarket from a "strong-buy" rating to a "buy" rating in a report on Tuesday, August 23rd.
NewMarket 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
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