BNP Paribas Financial Markets Acquires 1,362 Shares of NewMarket Co. (NYSE:NEU)

BNP Paribas Financial Markets boosted its holdings in NewMarket Co. (NYSE:NEU) by 96.3% in the fourth quarter, Holdings Channel reports. The firm owned 2,777 shares of the specialty chemicals company’s stock after purchasing an additional 1,362 shares during the quarter. BNP Paribas Financial Markets’ holdings in NewMarket were worth $1,467,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in NEU. Barclays PLC grew its position in NewMarket by 34.5% in the third quarter. Barclays PLC now owns 4,813 shares of the specialty chemicals company’s stock valued at $2,656,000 after purchasing an additional 1,235 shares in the last quarter. Park Avenue Securities LLC grew its position in NewMarket by 15.6% in the fourth quarter. Park Avenue Securities LLC now owns 1,269 shares of the specialty chemicals company’s stock valued at $670,000 after purchasing an additional 171 shares in the last quarter. Janney Montgomery Scott LLC bought a new position in NewMarket in the fourth quarter valued at $252,000. Exchange Traded Concepts LLC grew its position in NewMarket by 2.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 1,398 shares of the specialty chemicals company’s stock valued at $739,000 after purchasing an additional 35 shares in the last quarter. Finally, Blue Trust Inc. grew its position in NewMarket by 55.3% in the fourth quarter. Blue Trust Inc. now owns 118 shares of the specialty chemicals company’s stock valued at $65,000 after purchasing an additional 42 shares in the last quarter. Institutional investors own 61.09% of the company’s stock.

NewMarket Stock Performance

Shares of NEU stock opened at $651.15 on Monday. The stock has a market cap of $6.14 billion, a P/E ratio of 13.51 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. The company has a fifty day moving average price of $574.56 and a two-hundred day moving average price of $545.48. NewMarket Co. has a one year low of $480.00 and a one year high of $652.48.

NewMarket (NYSE:NEU) last announced its quarterly earnings results on Wednesday, April 23rd. The specialty chemicals company reported $13.26 EPS for the quarter. The firm had revenue of $700.95 million during the quarter. NewMarket had a net margin of 16.59% and a return on equity of 35.48%.

NewMarket Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 16th will be paid a $2.75 dividend. This represents a $11.00 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date of this dividend is Monday, June 16th. NewMarket’s dividend payout ratio is currently 21.89%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at NewMarket

In other news, CAO Bruce R. Hazelgrove III sold 311 shares of the firm’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $642.43, for a total transaction of $199,795.73. Following the completion of the sale, the chief accounting officer now owns 358 shares in the company, valued at approximately $229,989.94. This trade represents a 46.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 19.10% of the company’s stock.

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.