Fiduciary Trust Co Acquires 1,600 Shares of NewMarket Co. (NYSE:NEU)

Fiduciary Trust Co raised its holdings in shares of NewMarket Co. (NYSE:NEU - Free Report) by 262.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,210 shares of the specialty chemicals company's stock after buying an additional 1,600 shares during the quarter. Fiduciary Trust Co's holdings in NewMarket were worth $1,168,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in NEU. Norges Bank bought a new stake in NewMarket during the fourth quarter worth about $41,268,000. American Century Companies Inc. lifted its stake in NewMarket by 147.2% during the fourth quarter. American Century Companies Inc. now owns 47,717 shares of the specialty chemicals company's stock worth $25,211,000 after purchasing an additional 28,417 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in NewMarket during the fourth quarter worth about $8,933,000. Bank of New York Mellon Corp lifted its stake in NewMarket by 20.6% during the fourth quarter. Bank of New York Mellon Corp now owns 91,875 shares of the specialty chemicals company's stock worth $48,542,000 after purchasing an additional 15,694 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in NewMarket by 23.8% during the fourth quarter. Northern Trust Corp now owns 80,156 shares of the specialty chemicals company's stock worth $42,350,000 after purchasing an additional 15,424 shares during the last quarter. 61.09% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com lowered NewMarket from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, February 19th.

NewMarket Price Performance

NEU stock traded up $1.87 during mid-day trading on Friday, hitting $648.04. 11,333 shares of the stock were exchanged, compared to its average volume of 36,332. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.75 and a quick ratio of 1.40. The business has a fifty day moving average price of $572.56 and a 200 day moving average price of $544.60. NewMarket Co. has a 12 month low of $480.00 and a 12 month high of $651.59. The stock has a market capitalization of $6.11 billion, a price-to-earnings ratio of 13.44 and a beta of 0.41.

NewMarket (NYSE:NEU - Get Free Report) last released its earnings results on Wednesday, April 23rd. The specialty chemicals company reported $13.26 earnings per share for the quarter. NewMarket had a return on equity of 35.48% and a net margin of 16.59%. The company had revenue of $700.95 million during the quarter.

NewMarket Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 16th will be paid a $2.75 dividend. This represents a $11.00 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date is Monday, June 16th. NewMarket's dividend payout ratio (DPR) is presently 21.89%.

Insider Activity

In other NewMarket news, CAO Bruce R. Hazelgrove III sold 311 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $642.43, for a total transaction of $199,795.73. Following the completion of the transaction, the chief accounting officer now owns 358 shares of the company's stock, valued at $229,989.94. This represents a 46.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 19.10% of the stock is currently owned by corporate insiders.

NewMarket Company Profile

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.