NewMarket Corporation $NEU Shares Bought by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS lifted its position in NewMarket Corporation (NYSE:NEU) by 22.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,300 shares of the specialty chemicals company’s stock after acquiring an additional 600 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in NewMarket were worth $2,288,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Crossmark Global Holdings Inc. bought a new stake in shares of NewMarket in the 1st quarter worth approximately $257,000. Private Trust Co. NA lifted its holdings in shares of NewMarket by 185.2% in the 1st quarter. Private Trust Co. NA now owns 77 shares of the specialty chemicals company’s stock worth $44,000 after purchasing an additional 50 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of NewMarket by 34.1% in the 1st quarter. Farther Finance Advisors LLC now owns 444 shares of the specialty chemicals company’s stock worth $252,000 after purchasing an additional 113 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of NewMarket by 45.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 718 shares of the specialty chemicals company’s stock worth $407,000 after purchasing an additional 223 shares during the last quarter. Finally, Allianz Asset Management GmbH lifted its holdings in shares of NewMarket by 15.1% in the 1st quarter. Allianz Asset Management GmbH now owns 3,993 shares of the specialty chemicals company’s stock worth $2,262,000 after purchasing an additional 523 shares during the last quarter. Institutional investors and hedge funds own 61.09% of the company’s stock.

Wall Street Analysts Forecast Growth

NEU has been the topic of several recent research reports. Wall Street Zen downgraded NewMarket from a “buy” rating to a “hold” rating in a report on Saturday, August 30th. Weiss Ratings reissued a “buy (b+)” rating on shares of NewMarket in a report on Wednesday. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, NewMarket presently has a consensus rating of “Buy”.

NewMarket Stock Up 0.5%

Shares of NewMarket stock opened at $783.15 on Friday. The business’s fifty day moving average price is $805.20 and its two-hundred day moving average price is $698.55. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.66 and a quick ratio of 1.43. The company has a market capitalization of $7.36 billion, a P/E ratio of 15.52 and a beta of 0.45. NewMarket Corporation has a 1-year low of $480.00 and a 1-year high of $875.97.

NewMarket (NYSE:NEU) last announced its earnings results on Wednesday, July 30th. The specialty chemicals company reported $11.84 earnings per share for the quarter. The firm had revenue of $698.51 million for the quarter. NewMarket had a return on equity of 32.25% and a net margin of 17.28%.

NewMarket Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Monday, September 15th were paid a dividend of $2.75 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $11.00 annualized dividend and a yield of 1.4%. NewMarket’s dividend payout ratio (DPR) is currently 21.80%.

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.