Principal Financial Group Inc. Has $9.27 Million Stake in NewMarket Co. (NYSE:NEU)

Principal Financial Group Inc. trimmed its stake in shares of NewMarket Co. (NYSE:NEU) by 0.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,548 shares of the specialty chemicals company’s stock after selling 159 shares during the period. Principal Financial Group Inc. owned about 0.18% of NewMarket worth $9,271,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Natixis Advisors LLC raised its holdings in shares of NewMarket by 19.4% during the third quarter. Natixis Advisors LLC now owns 17,254 shares of the specialty chemicals company’s stock worth $9,522,000 after acquiring an additional 2,807 shares during the period. Barclays PLC raised its holdings in shares of NewMarket by 34.5% during the third quarter. Barclays PLC now owns 4,813 shares of the specialty chemicals company’s stock worth $2,656,000 after acquiring an additional 1,235 shares during the period. Janney Montgomery Scott LLC bought a new position in NewMarket in the fourth quarter valued at $252,000. Van ECK Associates Corp grew its position in NewMarket by 40.0% in the third quarter. Van ECK Associates Corp now owns 5,119 shares of the specialty chemicals company’s stock valued at $2,655,000 after purchasing an additional 1,463 shares in the last quarter. Finally, Empowered Funds LLC grew its position in NewMarket by 61.3% in the fourth quarter. Empowered Funds LLC now owns 1,490 shares of the specialty chemicals company’s stock valued at $787,000 after purchasing an additional 566 shares in the last quarter. 61.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

NewMarket Stock Up 1.3 %

NewMarket stock opened at $570.25 on Friday. The company has a market cap of $5.43 billion, a P/E ratio of 11.83 and a beta of 0.48. NewMarket Co. has a 1-year low of $480.00 and a 1-year high of $650.00. The company has a fifty day simple moving average of $517.89 and a 200 day simple moving average of $534.75. The company has a current ratio of 2.75, a quick ratio of 1.40 and a debt-to-equity ratio of 0.66.

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

NewMarket Increases Dividend

The company 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 $2.75 dividend. This represents a $11.00 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date is Monday, March 17th. This is an increase from NewMarket’s previous quarterly dividend of $2.50. NewMarket’s dividend payout ratio (DPR) is 20.74%.

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.