By otakuyassine3@gmail.com 
Pictet Asset Management Holding SA lifted its position in NewMarket Co. (NYSE:NEU – Free Report) by 26.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,150 shares of the specialty chemicals company’s stock after purchasing an additional 240 shares during the period. Pictet Asset Management Holding SA’s holdings in NewMarket were worth $608,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently modified their holdings of NEU. Assetmark Inc. boosted its stake in NewMarket by 0.6% in the 4th quarter. Assetmark Inc. now owns 3,118 shares of the specialty chemicals company’s stock worth $1,647,000 after purchasing an additional 20 shares during the period. Atria Investments Inc boosted its position in shares of NewMarket by 1.6% during the fourth quarter. Atria Investments Inc now owns 1,302 shares of the specialty chemicals company’s stock worth $688,000 after acquiring an additional 20 shares during the last quarter. Oregon Public Employees Retirement Fund grew its stake in NewMarket by 1.7% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,561 shares of the specialty chemicals company’s stock valued at $825,000 after acquiring an additional 26 shares in the last quarter. Parallel Advisors LLC increased its holdings in NewMarket by 4.3% in the 4th quarter. Parallel Advisors LLC now owns 735 shares of the specialty chemicals company’s stock valued at $388,000 after acquiring an additional 30 shares during the last quarter. Finally, Exchange Traded Concepts LLC increased its holdings in NewMarket by 2.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 1,398 shares of the specialty chemicals company’s stock valued at $739,000 after acquiring an additional 35 shares during the last quarter. 61.09% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Separately, StockNews.com lowered NewMarket from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 19th.
Read Our Latest Stock Analysis on NEU
NewMarket Stock Down 2.6 %
Shares of NEU opened at $517.32 on Wednesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.75 and a quick ratio of 1.40. The stock has a market capitalization of $4.91 billion, a price-to-earnings ratio of 10.73 and a beta of 0.44. NewMarket Co. has a 1 year low of $480.00 and a 1 year high of $615.56. The business’s 50 day simple moving average is $540.18 and its 200-day simple moving average is $532.53.
NewMarket (NYSE:NEU – Get Free Report) last released its quarterly 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 business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 17th were paid a dividend of $2.75 per share. This is a boost from NewMarket’s previous quarterly dividend of $2.50. This represents a $11.00 annualized dividend and a yield of 2.13%. The ex-dividend date was Monday, March 17th. NewMarket’s payout ratio is presently 22.82%.
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.
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