NewMarket Co. (NYSE:NEU) Shares Purchased by Parallel Advisors LLC

Parallel Advisors LLC raised its position in NewMarket Co. (NYSE:NEU) by 4.3% in the 4th quarter, Holdings Channel reports. The fund owned 735 shares of the specialty chemicals company’s stock after purchasing an additional 30 shares during the period. Parallel Advisors LLC’s holdings in NewMarket were worth $388,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in NEU. Proficio Capital Partners LLC acquired a new stake in NewMarket during the 4th quarter valued at $8,933,000. Bank of New York Mellon Corp grew its stake in shares of NewMarket by 20.6% during the fourth quarter. Bank of New York Mellon Corp now owns 91,875 shares of the specialty chemicals company’s stock valued at $48,542,000 after acquiring an additional 15,694 shares in the last quarter. DAVENPORT & Co LLC grew its stake 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 acquiring an additional 15,129 shares in the last quarter. State Street Corp lifted its stake in shares of NewMarket by 4.1% in the third quarter. State Street Corp now owns 229,372 shares of the specialty chemicals company’s stock worth $127,132,000 after acquiring an additional 8,979 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of NewMarket by 10.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 78,746 shares of the specialty chemicals company’s stock worth $43,459,000 after acquiring an additional 7,719 shares in the last quarter. Hedge funds and other institutional investors own 61.09% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com downgraded NewMarket from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 19th.

NewMarket Trading Down 1.6 %

NEU opened at $529.99 on Friday. The stock has a market capitalization of $5.03 billion, a PE ratio of 10.99 and a beta of 0.41. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.75 and a quick ratio of 1.40. NewMarket Co. has a 12-month low of $480.00 and a 12-month high of $638.21. The firm’s fifty day moving average price is $527.04 and its 200 day moving average price is $533.23.

NewMarket (NYSE:NEU) last issued its quarterly earnings results on Monday, February 3rd. The specialty chemicals company reported $11.56 EPS for the quarter. NewMarket had a net margin of 16.59% and a return on equity of 35.48%.

NewMarket Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th will be given a $2.75 dividend. This is a positive change from NewMarket’s previous quarterly dividend of $2.50. The ex-dividend date is Monday, March 17th. This represents a $11.00 annualized dividend and a dividend yield of 2.08%. NewMarket’s dividend payout ratio (DPR) is presently 22.82%.

NewMarket Company 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.