Edgestream Partners L.P. Takes Position in NewMarket Co. (NYSE:NEU)

Edgestream Partners L.P. acquired a new stake in NewMarket Co. (NYSE:NEU) during the fourth quarter, Holdings Channel.com reports. The firm acquired 7,094 shares of the specialty chemicals company’s stock, valued at approximately $3,748,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Assetmark Inc. lifted its stake in shares of NewMarket by 0.6% in the 4th quarter. Assetmark Inc. now owns 3,118 shares of the specialty chemicals company’s stock valued at $1,647,000 after purchasing an additional 20 shares during the period. Atria Investments Inc lifted its stake in shares of NewMarket by 1.6% in the 4th quarter. Atria Investments Inc now owns 1,302 shares of the specialty chemicals company’s stock valued at $688,000 after purchasing an additional 20 shares during the period. Oregon Public Employees Retirement Fund lifted its stake in shares of NewMarket by 1.7% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,561 shares of the specialty chemicals company’s stock valued at $825,000 after purchasing an additional 26 shares during the period. Exchange Traded Concepts LLC raised its stake in NewMarket by 2.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 1,398 shares of the specialty chemicals company’s stock worth $739,000 after buying an additional 35 shares during the period. Finally, Principal Securities Inc. raised its stake in NewMarket by 10.9% during the 4th quarter. Principal Securities Inc. now owns 357 shares of the specialty chemicals company’s stock worth $189,000 after buying an additional 35 shares during the period. 61.09% of the stock is owned by institutional investors and hedge funds.

NewMarket Stock Up 0.0 %

NEU stock opened at $546.11 on Friday. The stock’s 50 day simple moving average is $521.29 and its 200 day simple moving average is $535.02. NewMarket Co. has a fifty-two week low of $480.00 and a fifty-two week high of $638.21. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.40 and a current ratio of 2.75. The company has a market cap of $5.20 billion, a P/E ratio of 11.33 and a beta of 0.41.

NewMarket (NYSE:NEU) last posted its quarterly earnings results on Monday, February 3rd. The specialty chemicals company reported $11.56 earnings per share for the quarter. NewMarket had a return on equity of 35.48% and a net margin of 16.59%.

NewMarket Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 17th will be issued a dividend of $2.75 per share. This is a positive change from NewMarket’s previous quarterly dividend of $2.50. This represents a $11.00 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date is Monday, March 17th. NewMarket’s payout ratio is currently 22.82%.

Wall Street Analysts Forecast Growth

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

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.