Wealth Enhancement Advisory Services LLC Takes $205,000 Position in NewMarket Co. (NYSE:NEU)

Wealth Enhancement Advisory Services LLC purchased a new position in NewMarket Co. (NYSE:NEU) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 372 shares of the specialty chemicals company’s stock, valued at approximately $205,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NEU. Pacer Advisors Inc. lifted its position in NewMarket by 64.7% in the 2nd quarter. Pacer Advisors Inc. now owns 198,249 shares of the specialty chemicals company’s stock valued at $102,211,000 after acquiring an additional 77,908 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in shares of NewMarket by 55,089.7% during the third quarter. International Assets Investment Management LLC now owns 21,524 shares of the specialty chemicals company’s stock valued at $11,879,000 after purchasing an additional 21,485 shares in the last quarter. Lazard Asset Management LLC boosted its position in shares of NewMarket by 102.6% during the first quarter. Lazard Asset Management LLC now owns 36,368 shares of the specialty chemicals company’s stock valued at $23,079,000 after buying an additional 18,413 shares during the last quarter. Millennium Management LLC raised its position in NewMarket by 5,480.4% in the 2nd quarter. Millennium Management LLC now owns 18,192 shares of the specialty chemicals company’s stock worth $9,379,000 after buying an additional 17,866 shares during the last quarter. Finally, Los Angeles Capital Management LLC lifted its stake in NewMarket by 170.7% during 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. Institutional investors own 61.09% of the company’s stock.

Analyst Ratings Changes

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

NewMarket Stock Performance

NEU stock opened at $553.08 on Wednesday. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.83 and a quick ratio of 1.50. NewMarket Co. has a 1 year low of $494.04 and a 1 year high of $650.00. The company has a market cap of $5.31 billion, a P/E ratio of 12.26 and a beta of 0.50. The stock’s fifty day moving average price is $541.57 and its 200-day moving average price is $541.45.

NewMarket (NYSE:NEU) last posted its earnings results on Wednesday, October 23rd. The specialty chemicals company reported $13.79 earnings per share for the quarter. The company had revenue of $724.95 million for the quarter. NewMarket had a return on equity of 35.79% and a net margin of 15.57%.

NewMarket Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 16th will be issued a $2.50 dividend. This represents a $10.00 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date of this dividend is Monday, December 16th. NewMarket’s payout ratio is 22.21%.

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.