Proficio Capital Partners LLC Acquires New Shares in NewMarket Co. (NYSE:NEU)

Proficio Capital Partners LLC acquired a new stake in NewMarket Co. (NYSE:NEU) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 16,907 shares of the specialty chemicals company’s stock, valued at approximately $8,933,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. State Street Corp lifted its stake 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 valued at $127,132,000 after purchasing an additional 8,979 shares during the last quarter. Pacer Advisors Inc. lifted its position in NewMarket by 1.3% during the 4th quarter. Pacer Advisors Inc. now owns 198,065 shares of the specialty chemicals company’s stock worth $104,648,000 after acquiring an additional 2,493 shares during the last quarter. Bank of New York Mellon Corp lifted its position in NewMarket by 20.6% during 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 last quarter. Charles Schwab Investment Management Inc. lifted its position in NewMarket by 4.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 82,347 shares of the specialty chemicals company’s stock worth $43,508,000 after acquiring an additional 3,601 shares during the last quarter. Finally, DAVENPORT & Co LLC lifted its position in NewMarket by 29.2% during 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 last quarter. Institutional investors and hedge funds own 61.09% of the company’s stock.

NewMarket Stock Up 0.9 %

NewMarket stock opened at $523.80 on Friday. The firm has a market cap of $4.99 billion, a price-to-earnings ratio of 10.86 and a beta of 0.41. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.75 and a quick ratio of 1.40. NewMarket Co. has a fifty-two week low of $480.00 and a fifty-two week high of $638.21. The firm has a fifty day moving average price of $522.45 and a two-hundred day moving average price of $534.14.

NewMarket (NYSE:NEU) last posted its quarterly earnings data 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 will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th will be issued a dividend of $2.75 per share. This is an increase 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 2.10%. NewMarket’s payout ratio is presently 22.82%.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of NewMarket from a “strong-buy” rating to a “buy” rating in a research 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.