Empowered Funds LLC Boosts Holdings in NewMarket Co. (NYSE:NEU)

Empowered Funds LLC increased its position in shares of NewMarket Co. (NYSE:NEU) by 19.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 924 shares of the specialty chemicals company’s stock after purchasing an additional 148 shares during the quarter. Empowered Funds LLC’s holdings in NewMarket were worth $510,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Headlands Technologies LLC acquired a new position in shares of NewMarket in the 2nd quarter worth approximately $33,000. Quest Partners LLC acquired a new position in shares of NewMarket during the second quarter worth approximately $38,000. Blue Trust Inc. boosted its stake in NewMarket by 590.9% during the third quarter. Blue Trust Inc. now owns 76 shares of the specialty chemicals company’s stock worth $39,000 after buying an additional 65 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in shares of NewMarket during the 2nd quarter worth about $54,000. Finally, nVerses Capital LLC bought a new position in NewMarket in the 2nd quarter valued at $103,000. 61.09% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

NewMarket Stock Up 1.2 %

Shares of NYSE NEU opened at $542.65 on Monday. NewMarket Co. has a 52-week low of $494.04 and a 52-week high of $650.00. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.50 and a current ratio of 2.83. The company has a market capitalization of $5.21 billion, a P/E ratio of 12.05 and a beta of 0.50. The company’s 50 day moving average price is $539.39 and its 200-day moving average price is $541.63.

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

NewMarket Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 16th will be issued a $2.50 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $10.00 annualized dividend and a yield of 1.84%. NewMarket’s dividend payout ratio (DPR) is presently 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.