Tower Research Capital LLC TRC decreased its holdings in NewMarket Co. (NYSE:NEU - Free Report) by 77.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 554 shares of the specialty chemicals company's stock after selling 1,956 shares during the quarter. Tower Research Capital LLC TRC's holdings in NewMarket were worth $293,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also added to or reduced their stakes in NEU. Norges Bank purchased a new stake in NewMarket in the fourth quarter worth about $41,268,000. American Century Companies Inc. grew its position in NewMarket by 147.2% during the 4th quarter. American Century Companies Inc. now owns 47,717 shares of the specialty chemicals company's stock valued at $25,211,000 after purchasing an additional 28,417 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in NewMarket during the 4th 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 in the last quarter. Finally, DAVENPORT & Co LLC grew its holdings in shares of NewMarket by 29.2% during the fourth quarter. DAVENPORT & Co LLC now owns 66,879 shares of the specialty chemicals company's stock valued at $35,545,000 after buying an additional 15,129 shares during the last quarter. 61.09% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Separately, StockNews.com cut NewMarket from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, February 19th.
Get Our Latest Research Report on NEU
NewMarket Stock Performance
Shares of NYSE:NEU traded up $5.44 during midday trading on Thursday, reaching $633.77. 2,002 shares of the company's stock traded hands, compared to its average volume of 36,208. 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 one year low of $480.00 and a one year high of $637.16. The company has a market cap of $5.98 billion, a price-to-earnings ratio of 13.15 and a beta of 0.41. The stock has a 50 day moving average of $562.57 and a 200 day moving average of $540.16.
NewMarket (NYSE:NEU - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The specialty chemicals company reported $13.26 earnings per share (EPS) for the quarter. NewMarket had a return on equity of 35.48% and a net margin of 16.59%. The firm had revenue of $700.95 million for the quarter.
NewMarket Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 16th will be issued a $2.75 dividend. The ex-dividend date is Monday, June 16th. This represents a $11.00 dividend on an annualized basis and a yield of 1.74%. NewMarket's dividend payout ratio is currently 21.89%.
NewMarket Profile
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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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