Larson Financial Group LLC Raises Stock Holdings in NewMarket Co. (NYSE:NEU)

Larson Financial Group LLC raised its position in shares of NewMarket Co. (NYSE:NEU) by 51.6% during the 3rd quarter, Holdings Channel reports. The fund owned 482 shares of the specialty chemicals company’s stock after purchasing an additional 164 shares during the period. Larson Financial Group LLC’s holdings in NewMarket were worth $266,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Great Valley Advisor Group Inc. raised its holdings in NewMarket by 31.9% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 4,367 shares of the specialty chemicals company’s stock valued at $2,251,000 after buying an additional 1,056 shares during the period. Natixis Advisors LLC raised its holdings in NewMarket by 19.4% during the 3rd quarter. Natixis Advisors LLC now owns 17,254 shares of the specialty chemicals company’s stock valued at $9,522,000 after buying an additional 2,807 shares during the period. Edgestream Partners L.P. purchased a new stake in NewMarket during the 2nd quarter valued at $486,000. Van ECK Associates Corp raised its holdings in NewMarket by 40.0% during the 3rd quarter. Van ECK Associates Corp now owns 5,119 shares of the specialty chemicals company’s stock valued at $2,655,000 after buying an additional 1,463 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in NewMarket by 8.2% during 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. 61.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

NewMarket Stock Performance

NEU stock opened at $540.97 on Thursday. NewMarket Co. has a twelve month low of $494.04 and a twelve month high of $650.00. The firm has a market cap of $5.19 billion, a price-to-earnings ratio of 12.01 and a beta of 0.50. The business’s fifty day simple moving average is $538.69 and its two-hundred day simple moving average is $541.18. The company has a quick ratio of 1.50, a current ratio of 2.83 and a debt-to-equity ratio of 0.80.

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

NewMarket Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 16th will be given a dividend of $2.50 per share. This represents a $10.00 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date is Monday, December 16th. NewMarket’s dividend payout ratio (DPR) is presently 22.21%.

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.