NewMarket Co. (NYSE:NEU) Shares Bought by Kestra Investment Management LLC

Kestra Investment Management LLC grew its holdings in NewMarket Co. (NYSE:NEU) by 50.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,053 shares of the specialty chemicals company’s stock after buying an additional 352 shares during the period. Kestra Investment Management LLC’s holdings in NewMarket were worth $581,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Headlands Technologies LLC acquired a new stake in NewMarket in the 2nd quarter valued at about $33,000. Quest Partners LLC acquired a new stake in shares of NewMarket in the second quarter valued at approximately $38,000. Blue Trust Inc. lifted its position 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 in the 2nd quarter worth $54,000. Finally, nVerses Capital LLC purchased a new position in shares of NewMarket during the 2nd quarter worth $103,000. 61.09% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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 Down 1.4 %

Shares of NYSE NEU opened at $533.56 on Monday. The company has a market capitalization of $5.12 billion, a P/E ratio of 11.85 and a beta of 0.50. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.83 and a quick ratio of 1.50. The company has a 50 day simple moving average of $538.24 and a 200-day simple moving average of $540.75. NewMarket Co. has a 1 year low of $494.04 and a 1 year high of $650.00.

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

NewMarket Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 16th will be given a $2.50 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $10.00 dividend on an annualized basis and a yield of 1.87%. NewMarket’s payout ratio is currently 22.21%.

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.