Vanguard Group Inc. raised its position in NewMarket Co. (NYSE:NEU - Free Report) by 5.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 717,923 shares of the specialty chemicals company's stock after acquiring an additional 40,028 shares during the quarter. Vanguard Group Inc. owned approximately 7.49% of NewMarket worth $326,684,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Bank of New York Mellon Corp raised its stake in shares of NewMarket by 0.7% in the first quarter. Bank of New York Mellon Corp now owns 105,010 shares of the specialty chemicals company's stock worth $34,063,000 after buying an additional 700 shares during the period. PNC Financial Services Group Inc. boosted its holdings in shares of NewMarket by 29.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,949 shares of the specialty chemicals company's stock worth $955,000 after purchasing an additional 667 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in NewMarket during the 1st quarter valued at $252,000. MetLife Investment Management LLC raised its position in NewMarket by 31.8% during the 1st quarter. MetLife Investment Management LLC now owns 4,414 shares of the specialty chemicals company's stock valued at $1,432,000 after purchasing an additional 1,066 shares in the last quarter. Finally, Rhumbline Advisers raised its position in NewMarket by 1.0% during the 1st quarter. Rhumbline Advisers now owns 24,179 shares of the specialty chemicals company's stock valued at $7,843,000 after purchasing an additional 243 shares in the last quarter. Institutional investors own 61.09% of the company's stock.
NewMarket Price Performance
NYSE NEU traded up $5.04 during trading hours on Thursday, reaching $634.62. The company's stock had a trading volume of 48,813 shares, compared to its average volume of 44,423. The firm has a market capitalization of $6.09 billion, a price-to-earnings ratio of 15.70 and a beta of 0.45. NewMarket Co. has a 1-year low of $359.14 and a 1-year high of $650.00. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.85 and a quick ratio of 1.60. The company's 50-day moving average is $607.20 and its two-hundred day moving average is $540.69.
NewMarket (NYSE:NEU - Get Free Report) last announced its earnings results on Wednesday, January 31st. The specialty chemicals company reported $8.38 EPS for the quarter. NewMarket had a return on equity of 41.33% and a net margin of 14.41%. The business had revenue of $643.35 million during the quarter.
NewMarket Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Friday, March 15th will be issued a dividend of $2.50 per share. The ex-dividend date is Thursday, March 14th. This represents a $10.00 dividend on an annualized basis and a dividend yield of 1.58%. This is a boost from NewMarket's previous quarterly dividend of $2.25. NewMarket's dividend payout ratio is presently 24.73%.
Analyst Ratings Changes
Separately, StockNews.com downgraded NewMarket from a "strong-buy" rating to a "buy" rating in a research note on Sunday, February 4th.
Check Out Our Latest Analysis on NewMarket
NewMarket Company Profile
(
Free Report)
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.
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