North Forty Two & Co. Makes New Investment in NewMarket Co. (NYSE:NEU)

North Forty Two & Co. bought a new position in shares of NewMarket Co. (NYSE:NEU) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,266 shares of the specialty chemicals company’s stock, valued at approximately $1,726,000. NewMarket accounts for approximately 2.0% of North Forty Two & Co.’s investment portfolio, making the stock its 15th largest holding.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Proficio Capital Partners LLC acquired a new stake in shares of NewMarket in the 4th quarter worth about $8,933,000. Bank of New York Mellon Corp increased its holdings in shares of NewMarket by 20.6% in the 4th quarter. Bank of New York Mellon Corp now owns 91,875 shares of the specialty chemicals company’s stock worth $48,542,000 after acquiring an additional 15,694 shares during the period. DAVENPORT & Co LLC increased its holdings in shares of NewMarket by 29.2% in the 4th quarter. DAVENPORT & Co LLC now owns 66,879 shares of the specialty chemicals company’s stock worth $35,545,000 after acquiring an additional 15,129 shares during the period. State Street Corp increased its holdings in shares of NewMarket by 4.1% in the 3rd quarter. State Street Corp now owns 229,372 shares of the specialty chemicals company’s stock worth $127,132,000 after acquiring an additional 8,979 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of NewMarket by 10.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 78,746 shares of the specialty chemicals company’s stock worth $43,459,000 after acquiring an additional 7,719 shares during the period. 61.09% of the stock is owned by institutional investors and hedge funds.

NewMarket Stock Performance

Shares of NEU opened at $536.94 on Wednesday. The firm has a 50-day moving average price of $524.17 and a 200 day moving average price of $533.47. The firm has a market capitalization of $5.09 billion, a PE ratio of 11.14 and a beta of 0.41. The company has a quick ratio of 1.40, a current ratio of 2.75 and a debt-to-equity ratio of 0.66. NewMarket Co. has a 52-week low of $480.00 and a 52-week high of $638.21.

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

NewMarket Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th will be given a dividend of $2.75 per share. This is a positive change from NewMarket’s previous quarterly dividend of $2.50. The ex-dividend date of this dividend is Monday, March 17th. This represents a $11.00 annualized dividend and a dividend yield of 2.05%. NewMarket’s dividend payout ratio (DPR) is 22.82%.

Analysts Set New Price Targets

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

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.