Fiduciary Trust Co Has $1.17 Million Position in NewMarket Co. (NYSE:NEU)

Fiduciary Trust Co increased its position in NewMarket Co. (NYSE:NEU - Free Report) by 262.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,210 shares of the specialty chemicals company's stock after purchasing 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 SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in NewMarket by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 731,312 shares of the specialty chemicals company's stock worth $386,389,000 after buying an additional 8,951 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in NewMarket by 1.3% during the fourth quarter. Pacer Advisors Inc. now owns 198,065 shares of the specialty chemicals company's stock worth $104,648,000 after buying an additional 2,493 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in NewMarket by 2.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 170,218 shares of the specialty chemicals company's stock worth $89,938,000 after buying an additional 4,621 shares during the last quarter. Geode Capital Management LLC boosted its holdings in NewMarket by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 124,387 shares of the specialty chemicals company's stock worth $65,741,000 after buying an additional 1,733 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings 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 buying an additional 15,694 shares during the last quarter. 61.09% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CAO Bruce R. Hazelgrove III sold 311 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $642.43, for a total value of $199,795.73. Following the sale, the chief accounting officer now owns 358 shares in the company, valued at approximately $229,989.94. This represents a 46.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 19.10% of the company's stock.

NewMarket Stock Up 0.3%

NYSE NEU traded up $2.01 during trading on Wednesday, hitting $634.12. The stock had a trading volume of 45,955 shares, compared to its average volume of 36,377. The company has a market capitalization of $5.98 billion, a PE ratio of 13.15 and a beta of 0.41. The company's 50-day moving average price is $568.87 and its two-hundred day moving average price is $543.22. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.40 and a current ratio of 2.75. NewMarket Co. has a 12 month low of $480.00 and a 12 month high of $645.00.

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

NewMarket Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 16th will be given a dividend of $2.75 per share. This represents a $11.00 annualized dividend and a dividend yield of 1.73%. The ex-dividend date is Monday, June 16th. NewMarket's dividend payout ratio (DPR) is 21.89%.

Analysts Set New Price Targets

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

About NewMarket

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.