Edgestream Partners L.P. Purchases New Holdings in NewMarket Co. (NYSE:NEU)

Edgestream Partners L.P. purchased a new stake in NewMarket Co. (NYSE:NEU) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 942 shares of the specialty chemicals company’s stock, valued at approximately $486,000.

Several other institutional investors have also recently added to or reduced their stakes in NEU. Norges Bank acquired a new position in NewMarket in the 4th quarter valued at about $37,659,000. Lazard Asset Management LLC increased its position in NewMarket by 102.6% in the 1st quarter. Lazard Asset Management LLC now owns 36,368 shares of the specialty chemicals company’s stock valued at $23,079,000 after acquiring an additional 18,413 shares during the period. Los Angeles Capital Management LLC increased its position in NewMarket by 170.7% in the 2nd quarter. Los Angeles Capital Management LLC now owns 23,633 shares of the specialty chemicals company’s stock valued at $12,184,000 after acquiring an additional 14,902 shares during the period. Dimensional Fund Advisors LP increased its position in NewMarket by 8.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 159,467 shares of the specialty chemicals company’s stock valued at $82,214,000 after acquiring an additional 12,110 shares during the period. Finally, Alaska Permanent Fund Corp increased its position in NewMarket by 142.6% in the 1st quarter. Alaska Permanent Fund Corp now owns 17,320 shares of the specialty chemicals company’s stock valued at $10,992,000 after acquiring an additional 10,182 shares during the period. Institutional investors and hedge funds own 61.09% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com upgraded NewMarket from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 6th.

NewMarket Stock Performance

NYSE NEU opened at $540.12 on Monday. The company has a current ratio of 2.66, a quick ratio of 1.48 and a debt-to-equity ratio of 0.95. The business’s 50 day moving average is $552.83 and its two-hundred day moving average is $559.92. NewMarket Co. has a 12-month low of $436.90 and a 12-month high of $650.00. The stock has a market capitalization of $5.18 billion, a price-to-earnings ratio of 12.99 and a beta of 0.50.

NewMarket (NYSE:NEU) last released its earnings results on Monday, July 29th. The specialty chemicals company reported $11.63 earnings per share (EPS) for the quarter. NewMarket had a return on equity of 37.06% and a net margin of 15.12%. The company had revenue of $710.23 million for the quarter.

NewMarket Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 16th will be issued a $2.50 dividend. This represents a $10.00 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date of this dividend is Monday, September 16th. NewMarket’s dividend payout ratio is currently 24.06%.

Insider Buying and Selling

In related news, CAO Bruce R. Hazelgrove III sold 1,270 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $544.31, for a total value of $691,273.70. Following the sale, the chief accounting officer now owns 358 shares in the company, valued at approximately $194,862.98. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 20.40% of the company’s stock.

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.