Parallel Advisors LLC Raises Position in NewMarket Co. (NYSE:NEU)

Parallel Advisors LLC lifted its holdings in shares of NewMarket Co. (NYSE:NEU) by 4.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 735 shares of the specialty chemicals company’s stock after purchasing an additional 30 shares during the quarter. Parallel Advisors LLC’s holdings in NewMarket were worth $388,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Eagle Bay Advisors LLC acquired a new stake in NewMarket in the 4th quarter worth about $40,000. Centricity Wealth Management LLC purchased a new position in shares of NewMarket during the 4th quarter worth about $56,000. Blue Trust Inc. boosted its position in shares of NewMarket by 55.3% in the fourth quarter. Blue Trust Inc. now owns 118 shares of the specialty chemicals company’s stock worth $65,000 after acquiring an additional 42 shares during the last quarter. Kohmann Bosshard Financial Services LLC purchased a new stake in NewMarket in the fourth quarter valued at approximately $74,000. Finally, Steward Partners Investment Advisory LLC increased its position in NewMarket by 481.5% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 157 shares of the specialty chemicals company’s stock worth $83,000 after purchasing an additional 130 shares during the last quarter. Hedge funds and other institutional investors own 61.09% of the company’s stock.

NewMarket Price Performance

NEU stock opened at $529.99 on Friday. The company has a market cap of $5.03 billion, a PE ratio of 10.99 and a beta of 0.41. The company has a current ratio of 2.75, a quick ratio of 1.40 and a debt-to-equity ratio of 0.66. The stock has a 50-day moving average price of $527.04 and a two-hundred day moving average price of $533.23. NewMarket Co. has a 12-month low of $480.00 and a 12-month high of $638.21.

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

NewMarket Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th will be paid a $2.75 dividend. This represents a $11.00 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend is Monday, March 17th. This is an increase from NewMarket’s previous quarterly dividend of $2.50. NewMarket’s dividend payout ratio (DPR) is currently 22.82%.

Analyst Ratings Changes

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

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.