NewMarket Co. (NYSE:NEU) Shares Bought by Parametric Portfolio Associates LLC
Parametric Portfolio Associates LLC boosted its position in shares of NewMarket Co. (NYSE:NEU) by 0.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,789 shares of the specialty chemicals company’s stock after acquiring an additional 39 shares during the period. Parametric Portfolio Associates LLC’s holdings in NewMarket were worth $8,146,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in the business. Oppenheimer Asset Management Inc. acquired a new stake in NewMarket during the fourth quarter worth about $37,000. Rhumbline Advisers grew its holdings in NewMarket by 32.3% during the fourth quarter. Rhumbline Advisers now owns 26,729 shares of the specialty chemicals company’s stock worth $11,015,000 after acquiring an additional 6,528 shares during the period. State Board of Administration of Florida Retirement System grew its holdings in NewMarket by 18.5% during the fourth quarter. State Board of Administration of Florida Retirement System now owns 4,642 shares of the specialty chemicals company’s stock worth $1,913,000 after acquiring an additional 725 shares during the period. Creative Planning grew its holdings in NewMarket by 4.8% during the fourth quarter. Creative Planning now owns 834 shares of the specialty chemicals company’s stock worth $344,000 after acquiring an additional 38 shares during the period. Finally, Janney Montgomery Scott LLC grew its holdings in NewMarket by 54.2% during the fourth quarter. Janney Montgomery Scott LLC now owns 956 shares of the specialty chemicals company’s stock worth $394,000 after acquiring an additional 336 shares during the period. 55.34% of the stock is owned by hedge funds and other institutional investors.
NewMarket stock opened at $403.47 on Friday. The stock has a market cap of $4.51 billion, a P/E ratio of 19.40 and a beta of 0.51. NewMarket Co. has a 52 week low of $352.89 and a 52 week high of $452.54. The company has a current ratio of 3.29, a quick ratio of 1.77 and a debt-to-equity ratio of 1.53.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 17th will be issued a $1.75 dividend. This represents a $7.00 annualized dividend and a yield of 1.73%. The ex-dividend date is Friday, June 14th. NewMarket’s payout ratio is currently 34.41%.
Separately, Buckingham Research initiated coverage on NewMarket in a report on Monday, April 1st. They set an “underperform” rating and a $380.00 target price on the stock.
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NewMarket Company Profile
NewMarket Corporation, through its subsidiaries, engages in the petroleum additives businesses. 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, metalworking fluids, and other applications where metal-to-metal moving parts are utilized; and engine oil, driveline, and industrial additives.
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