Ontario Teachers Pension Plan Board Buys 2,336 Shares of NewMarket Co. (NYSE:NEU)

Ontario Teachers Pension Plan Board increased its position in shares of NewMarket Co. (NYSE:NEU - Free Report) by 58.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,359 shares of the specialty chemicals company's stock after acquiring an additional 2,336 shares during the period. Ontario Teachers Pension Plan Board owned approximately 0.07% of NewMarket worth $3,360,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NEU. Norges Bank acquired a new position in shares of NewMarket in the 4th quarter worth approximately $41,268,000. American Century Companies Inc. boosted its holdings in NewMarket by 147.2% in 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 in the last quarter. Proficio Capital Partners LLC bought a new position in NewMarket during the fourth quarter valued at about $8,933,000. Bank of New York Mellon Corp lifted its stake in shares of NewMarket by 20.6% in 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. Finally, DAVENPORT & Co LLC boosted its stake in NewMarket by 29.2% during the 4th quarter. DAVENPORT & Co LLC now owns 66,879 shares of the specialty chemicals company's stock valued at $35,545,000 after purchasing an additional 15,129 shares during the period. 61.09% of the stock is currently owned by institutional investors.

NewMarket Price Performance

Shares of NEU traded up $5.59 on Friday, hitting $564.28. The company's stock had a trading volume of 34,203 shares, compared to its average volume of 36,597. NewMarket Co. has a fifty-two week low of $480.00 and a fifty-two week high of $596.89. The company has a 50 day moving average price of $548.85 and a 200 day moving average price of $533.10. 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 company has a market capitalization of $5.35 billion, a PE ratio of 11.70 and a beta of 0.44.

NewMarket (NYSE:NEU - Get Free Report) last announced its quarterly earnings data on Monday, February 3rd. The specialty chemicals company reported $11.56 earnings per share (EPS) for the quarter. NewMarket had a net margin of 16.59% and a return on equity of 35.48%.

NewMarket Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 17th were issued a dividend of $2.75 per share. This is a boost from NewMarket's previous quarterly dividend of $2.50. The ex-dividend date of this dividend was Monday, March 17th. This represents a $11.00 annualized dividend and a yield of 1.95%. NewMarket's dividend payout ratio is presently 22.82%.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered 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.