Highland Capital Management LLC Takes Position in NewMarket Co. (NYSE:NEU)

Highland Capital Management LLC acquired a new position in NewMarket Co. (NYSE:NEU) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 460 shares of the specialty chemicals company’s stock, valued at approximately $243,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. grew its position in NewMarket by 1.3% in the fourth quarter. Pacer Advisors Inc. now owns 198,065 shares of the specialty chemicals company’s stock worth $104,648,000 after acquiring an additional 2,493 shares in the last quarter. KBC Group NV boosted its holdings in NewMarket by 82.4% in the fourth quarter. KBC Group NV now owns 321 shares of the specialty chemicals company’s stock worth $170,000 after purchasing an additional 145 shares in the last quarter. Blue Trust Inc. boosted its holdings in NewMarket by 55.3% in the fourth quarter. Blue Trust Inc. now owns 118 shares of the specialty chemicals company’s stock worth $65,000 after purchasing an additional 42 shares in the last quarter. Exchange Traded Concepts LLC increased its position in NewMarket by 2.6% during the fourth quarter. Exchange Traded Concepts LLC now owns 1,398 shares of the specialty chemicals company’s stock worth $739,000 after buying an additional 35 shares during the last quarter. Finally, Janney Montgomery Scott LLC bought a new position in NewMarket during the fourth quarter valued at about $252,000. Institutional investors and hedge funds own 61.09% of the company’s stock.

NewMarket Stock Performance

NEU opened at $498.67 on Friday. The stock has a 50-day moving average of $518.60 and a 200-day moving average of $536.45. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.50 and a current ratio of 2.83. NewMarket Co. has a 52-week low of $480.00 and a 52-week high of $650.00. The company has a market cap of $4.79 billion, a PE ratio of 11.07 and a beta of 0.50.

NewMarket Profile

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.