Jupiter Asset Management Ltd. Purchases New Holdings in NewMarket Co. (NYSE:NEU)

Jupiter Asset Management Ltd. acquired a new position in NewMarket Co. (NYSE:NEU) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 6,806 shares of the specialty chemicals company’s stock, valued at approximately $3,509,000. Jupiter Asset Management Ltd. owned 0.07% of NewMarket as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NEU. Vanguard Group Inc. boosted its position in shares of NewMarket by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 722,184 shares of the specialty chemicals company’s stock worth $394,190,000 after buying an additional 4,261 shares during the period. Dimensional Fund Advisors LP boosted its position in NewMarket by 1.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 146,589 shares of the specialty chemicals company’s stock worth $80,015,000 after acquiring an additional 1,958 shares during the period. Norges Bank purchased a new position in NewMarket during the 4th quarter valued at about $37,659,000. HB Wealth Management LLC increased its holdings in shares of NewMarket by 27.4% in the 2nd quarter. HB Wealth Management LLC now owns 39,504 shares of the specialty chemicals company’s stock valued at $20,367,000 after purchasing an additional 8,496 shares during the period. Finally, Lazard Asset Management LLC increased its holdings in shares of 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 purchasing an additional 18,413 shares during the period. 61.09% of the stock is currently owned by hedge funds and other institutional investors.

NewMarket Price Performance

Shares of NYSE:NEU opened at $557.21 on Friday. The company has a current ratio of 2.66, a quick ratio of 1.48 and a debt-to-equity ratio of 0.95. NewMarket Co. has a 1 year low of $436.90 and a 1 year high of $650.00. The business has a fifty day simple moving average of $549.57 and a 200 day simple moving average of $563.93. The firm has a market cap of $5.34 billion, a price-to-earnings ratio of 13.40 and a beta of 0.50.

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

NewMarket Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 16th will be given a dividend of $2.50 per share. This represents a $10.00 annualized dividend and a yield of 1.79%. The ex-dividend date is Monday, September 16th. NewMarket’s payout ratio is presently 24.06%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at NewMarket

In other news, CAO Bruce R. Hazelgrove III sold 1,270 shares of the stock in a transaction on Friday, August 9th. The shares were sold at an average price of $544.31, for a total transaction of $691,273.70. Following the transaction, the chief accounting officer now owns 358 shares in the company, valued at approximately $194,862.98. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate 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.