Gallacher Capital Management LLC Acquires 136 Shares of NewMarket Co. (NYSE:NEU)

Gallacher Capital Management LLC raised its holdings in shares of NewMarket Co. (NYSE:NEU) by 25.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 674 shares of the specialty chemicals company’s stock after acquiring an additional 136 shares during the quarter. Gallacher Capital Management LLC’s holdings in NewMarket were worth $356,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of NEU. Natixis Advisors LLC increased its holdings in shares of NewMarket by 19.4% in the third quarter. Natixis Advisors LLC now owns 17,254 shares of the specialty chemicals company’s stock worth $9,522,000 after purchasing an additional 2,807 shares during the last quarter. Barclays PLC increased its holdings in shares of NewMarket by 34.5% in the third quarter. Barclays PLC now owns 4,813 shares of the specialty chemicals company’s stock worth $2,656,000 after purchasing an additional 1,235 shares during the last quarter. Janney Montgomery Scott LLC bought a new stake in shares of NewMarket in the fourth quarter worth about $252,000. Empowered Funds LLC increased its holdings in shares of NewMarket by 61.3% in the fourth quarter. Empowered Funds LLC now owns 1,490 shares of the specialty chemicals company’s stock worth $787,000 after purchasing an additional 566 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of NewMarket by 1.4% in the third quarter. JPMorgan Chase & Co. now owns 50,585 shares of the specialty chemicals company’s stock worth $27,917,000 after purchasing an additional 722 shares during the last quarter. 61.09% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

NewMarket Trading Up 0.9 %

NEU opened at $523.80 on Monday. The firm has a market cap of $4.99 billion, a P/E ratio of 10.86 and a beta of 0.41. NewMarket Co. has a 12 month low of $480.00 and a 12 month high of $638.21. 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 of $522.45 and a 200 day moving average of $533.97.

NewMarket (NYSE:NEU) last released its quarterly earnings results on Monday, February 3rd. The specialty chemicals company reported $11.56 EPS 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 declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 17th will be given a $2.75 dividend. The ex-dividend date is Monday, March 17th. This represents a $11.00 annualized dividend and a yield of 2.10%. This is a positive change from NewMarket’s previous quarterly dividend of $2.50. NewMarket’s dividend payout ratio (DPR) is currently 22.82%.

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.