Norges Bank Makes New $41.27 Million Investment in NewMarket Co. (NYSE:NEU)

Norges Bank acquired a new stake in NewMarket Co. (NYSE:NEU) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 78,107 shares of the specialty chemicals company’s stock, valued at approximately $41,268,000. Norges Bank owned 0.81% of NewMarket at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Eagle Bay Advisors LLC purchased a new stake in NewMarket during the fourth quarter worth about $40,000. Centricity Wealth Management LLC bought a new position in shares of NewMarket during the 4th quarter valued at approximately $56,000. Blue Trust Inc. increased its stake in shares of NewMarket by 55.3% during the 4th quarter. Blue Trust Inc. now owns 118 shares of the specialty chemicals company’s stock worth $65,000 after purchasing an additional 42 shares during the last quarter. Kohmann Bosshard Financial Services LLC bought a new stake in shares of NewMarket in the 4th quarter worth approximately $74,000. Finally, Steward Partners Investment Advisory LLC lifted its stake in NewMarket by 481.5% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 157 shares of the specialty chemicals company’s stock valued at $83,000 after purchasing an additional 130 shares during the last quarter. 61.09% of the stock is currently owned by institutional investors.

NewMarket Price Performance

NYSE NEU opened at $544.42 on Friday. The company has a quick ratio of 1.40, a current ratio of 2.75 and a debt-to-equity ratio of 0.66. The company has a market cap of $5.16 billion, a PE ratio of 11.29 and a beta of 0.41. NewMarket Co. has a 52 week low of $480.00 and a 52 week high of $624.91. The firm’s 50-day simple moving average is $538.89 and its two-hundred day simple moving average is $533.23.

NewMarket (NYSE:NEU) last released its quarterly earnings data 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 business also recently disclosed 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 dividend on an annualized basis and a yield of 2.02%. NewMarket’s dividend payout ratio is 22.82%.

Analysts Set New Price Targets

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

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.