BNP Paribas Financial Markets Increases Stake in NewMarket Co. (NYSE:NEU)

BNP Paribas Financial Markets lifted its stake in shares of NewMarket Co. (NYSE:NEU - Free Report) by 96.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,777 shares of the specialty chemicals company's stock after buying an additional 1,362 shares during the quarter. BNP Paribas Financial Markets' holdings in NewMarket were worth $1,467,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of NEU. Bessemer Group Inc. lifted its position in shares of NewMarket by 166.7% during the 4th quarter. Bessemer Group Inc. now owns 48 shares of the specialty chemicals company's stock worth $25,000 after buying an additional 30 shares during the last quarter. Centricity Wealth Management LLC purchased a new stake in shares of NewMarket during the 4th quarter worth approximately $56,000. Kapitalo Investimentos Ltda purchased a new stake in shares of NewMarket during the 4th quarter worth approximately $59,000. Blue Trust Inc. lifted its position in shares of NewMarket by 55.3% during the 4th quarter. Blue Trust Inc. now owns 118 shares of the specialty chemicals company's stock worth $65,000 after buying an additional 42 shares during the last quarter. Finally, Kohmann Bosshard Financial Services LLC purchased a new stake in shares of NewMarket during the 4th quarter worth approximately $74,000. Hedge funds and other institutional investors own 61.09% of the company's stock.

NewMarket Stock Performance

NEU stock traded down $7.39 on Friday, hitting $639.67. The company's stock had a trading volume of 36,771 shares, compared to its average volume of 36,607. The firm has a 50 day moving average of $586.50 and a two-hundred day moving average of $549.31. NewMarket Co. has a 1 year low of $480.00 and a 1 year high of $653.71. The stock has a market cap of $6.03 billion, a price-to-earnings ratio of 13.27 and a beta of 0.41. The company has a current ratio of 2.75, a quick ratio of 1.40 and a debt-to-equity ratio of 0.66.

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

NewMarket Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Monday, June 16th. This represents a $11.00 dividend on an annualized basis and a yield of 1.72%. NewMarket's payout ratio is currently 21.89%.

Insiders Place Their Bets

In other news, CAO Bruce R. Hazelgrove III sold 311 shares of the company's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $642.43, for a total transaction of $199,795.73. Following the transaction, the chief accounting officer now directly 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 through this hyperlink. 19.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded shares of NewMarket from a "strong-buy" rating to a "buy" rating in a research report 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.