Convergence Investment Partners LLC Makes New $1.14 Million Investment in NewMarket Co. (NYSE:NEU)

Convergence Investment Partners LLC bought a new stake in shares of NewMarket Co. (NYSE:NEU - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 2,090 shares of the specialty chemicals company's stock, valued at approximately $1,141,000.

Several other hedge funds have also bought and sold shares of NEU. London Co. of Virginia boosted its holdings in shares of NewMarket by 0.3% in the 3rd quarter. London Co. of Virginia now owns 664,683 shares of the specialty chemicals company's stock worth $302,457,000 after purchasing an additional 1,796 shares in the last quarter. Mackenzie Financial Corp grew its position in NewMarket by 254.4% during the fourth quarter. Mackenzie Financial Corp now owns 7,571 shares of the specialty chemicals company's stock valued at $4,132,000 after acquiring an additional 5,435 shares during the last quarter. International Assets Investment Management LLC raised its stake in shares of NewMarket by 54,482.1% during the fourth quarter. International Assets Investment Management LLC now owns 21,287 shares of the specialty chemicals company's stock worth $11,619,000 after acquiring an additional 21,248 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of NewMarket by 41.2% in the 3rd quarter. Invesco Ltd. now owns 105,136 shares of the specialty chemicals company's stock worth $47,841,000 after acquiring an additional 30,694 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of NewMarket by 57.8% in the 3rd quarter. Envestnet Asset Management Inc. now owns 26,096 shares of the specialty chemicals company's stock worth $11,875,000 after acquiring an additional 9,557 shares during the last quarter. 61.09% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of NewMarket from a "strong-buy" rating to a "buy" rating in a research report on Sunday, February 4th.

NewMarket Trading Down 0.8 %

Shares of NEU traded down $4.18 during trading hours on Friday, hitting $529.41. The company had a trading volume of 65,326 shares, compared to its average volume of 39,737. NewMarket Co. has a 52-week low of $371.69 and a 52-week high of $650.00. The company has a quick ratio of 1.60, a current ratio of 2.86 and a debt-to-equity ratio of 1.11. The stock's 50 day moving average price is $612.63 and its 200 day moving average price is $562.62. The firm has a market cap of $5.08 billion, a P/E ratio of 12.74 and a beta of 0.45.

NewMarket (NYSE:NEU - Get Free Report) last posted its quarterly earnings results on Wednesday, April 24th. The specialty chemicals company reported $11.23 earnings per share (EPS) for the quarter. NewMarket had a return on equity of 38.99% and a net margin of 14.82%. The business had revenue of $696.74 million for the quarter.

NewMarket Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be paid a $2.50 dividend. This represents a $10.00 annualized dividend and a dividend yield of 1.89%. The ex-dividend date is Friday, June 14th. NewMarket's payout ratio is 24.06%.

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.