NewMarket Co. (NYSE:NEU) Shares Acquired by Kestra Investment Management LLC

Kestra Investment Management LLC lifted its position in NewMarket Co. (NYSE:NEU) by 50.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,053 shares of the specialty chemicals company’s stock after purchasing an additional 352 shares during the quarter. Kestra Investment Management LLC’s holdings in NewMarket were worth $581,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Pacer Advisors Inc. increased its stake in shares of NewMarket by 64.7% in the second quarter. Pacer Advisors Inc. now owns 198,249 shares of the specialty chemicals company’s stock worth $102,211,000 after acquiring an additional 77,908 shares during the period. International Assets Investment Management LLC boosted its holdings in NewMarket by 55,089.7% in the third quarter. International Assets Investment Management LLC now owns 21,524 shares of the specialty chemicals company’s stock valued at $11,879,000 after purchasing an additional 21,485 shares during the last quarter. Millennium Management LLC grew its position in NewMarket by 5,480.4% during the 2nd quarter. Millennium Management LLC now owns 18,192 shares of the specialty chemicals company’s stock worth $9,379,000 after purchasing an additional 17,866 shares during the period. Los Angeles Capital Management LLC raised its stake in shares of NewMarket by 170.7% during the 2nd quarter. Los Angeles Capital Management LLC now owns 23,633 shares of the specialty chemicals company’s stock valued at $12,184,000 after buying an additional 14,902 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of NewMarket by 8.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 159,467 shares of the specialty chemicals company’s stock valued at $82,214,000 after buying an additional 12,110 shares during the period. Institutional investors and hedge funds own 61.09% of the company’s stock.

NewMarket Price Performance

NYSE:NEU opened at $533.56 on Monday. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.83 and a quick ratio of 1.50. The company has a 50 day moving average price of $538.24 and a 200-day moving average price of $540.75. NewMarket Co. has a 1-year low of $494.04 and a 1-year high of $650.00. The firm has a market cap of $5.12 billion, a price-to-earnings ratio of 11.85 and a beta of 0.50.

NewMarket (NYSE:NEU) last released its quarterly earnings data on Wednesday, October 23rd. The specialty chemicals company reported $13.79 earnings per share for the quarter. NewMarket had a net margin of 15.57% and a return on equity of 35.79%. The company had revenue of $724.95 million during the quarter.

NewMarket Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 16th will be issued a $2.50 dividend. This represents a $10.00 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend is Monday, December 16th. NewMarket’s payout ratio is currently 22.21%.

Analysts Set New Price Targets

Separately, StockNews.com raised NewMarket from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 6th.

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.