Wells Fargo & Company MN raised its stake in shares of NewMarket Co. (NYSE:NEU) by 18.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 34,915 shares of the specialty chemicals company’s stock after purchasing an additional 5,340 shares during the quarter. Wells Fargo & Company MN owned 0.29% of NewMarket worth $13,875,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. boosted its holdings in NewMarket by 18.4% during the third quarter. Russell Investments Group Ltd. now owns 49,769 shares of the specialty chemicals company’s stock valued at $21,189,000 after purchasing an additional 7,736 shares in the last quarter. U S Global Investors Inc. acquired a new position in shares of NewMarket in the 3rd quarter worth approximately $1,277,000. Krueger & Catalano Capital Partners LLC acquired a new position in shares of NewMarket in the 4th quarter worth approximately $1,508,000. Schwab Charles Investment Management Inc. boosted its holdings in shares of NewMarket by 6.7% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 44,709 shares of the specialty chemicals company’s stock worth $19,035,000 after acquiring an additional 2,805 shares in the last quarter. Finally, Swiss National Bank boosted its holdings in shares of NewMarket by 1.3% in the 4th quarter. Swiss National Bank now owns 16,100 shares of the specialty chemicals company’s stock worth $6,398,000 after acquiring an additional 200 shares in the last quarter. 55.73% of the stock is currently owned by institutional investors.
NewMarket Co. (NYSE NEU) opened at $411.12 on Friday. The company has a market capitalization of $4,915.32, a P/E ratio of 22.23 and a beta of 0.73. The company has a quick ratio of 1.42, a current ratio of 2.63 and a debt-to-equity ratio of 1.00. NewMarket Co. has a 1-year low of $373.59 and a 1-year high of $483.86.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Thursday, March 15th will be given a $1.75 dividend. This represents a $7.00 annualized dividend and a yield of 1.70%. The ex-dividend date is Wednesday, March 14th. NewMarket’s dividend payout ratio (DPR) is presently 43.56%.
Separately, TheStreet downgraded NewMarket from a “b-” rating to a “c” rating in a report on Wednesday, February 7th.
NewMarket Corporation is a holding company. The Company is the parent company of Afton Chemical Corporation (Afton), Ethyl Corporation (Ethyl), NewMarket Services Corporation (NewMarket Services), and NewMarket Development Corporation (NewMarket Development). The Company operates through petroleum additives segment, which is primarily represented by Afton.
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