Pacer Advisors Inc. Buys 1,453 Shares of NewMarket Corporation $NEU

Pacer Advisors Inc. grew its stake in shares of NewMarket Corporation (NYSE:NEU) by 291.2% in the 3rd quarter, HoldingsChannel reports. The fund owned 1,952 shares of the specialty chemicals company’s stock after purchasing an additional 1,453 shares during the quarter. Pacer Advisors Inc.’s holdings in NewMarket were worth $1,617,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in NewMarket by 100.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78 shares of the specialty chemicals company’s stock worth $44,000 after purchasing an additional 39 shares during the last quarter. ST Germain D J Co. Inc. bought a new position in NewMarket during the 2nd quarter worth $83,000. MAI Capital Management lifted its holdings in shares of NewMarket by 20.8% during the second quarter. MAI Capital Management now owns 122 shares of the specialty chemicals company’s stock worth $84,000 after buying an additional 21 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of NewMarket by 88.8% in the second quarter. EverSource Wealth Advisors LLC now owns 151 shares of the specialty chemicals company’s stock valued at $104,000 after acquiring an additional 71 shares during the period. Finally, Steward Partners Investment Advisory LLC grew its stake in shares of NewMarket by 31.6% in the second quarter. Steward Partners Investment Advisory LLC now owns 154 shares of the specialty chemicals company’s stock valued at $107,000 after acquiring an additional 37 shares in the last quarter. Institutional investors and hedge funds own 61.09% of the company’s stock.

NewMarket Trading Down 1.5%

NEU opened at $687.81 on Thursday. The stock has a market capitalization of $6.47 billion, a price-to-earnings ratio of 14.53 and a beta of 0.49. The company has a quick ratio of 1.43, a current ratio of 2.68 and a debt-to-equity ratio of 0.46. NewMarket Corporation has a twelve month low of $480.00 and a twelve month high of $875.97. The company has a 50-day simple moving average of $749.52 and a 200 day simple moving average of $758.76.

NewMarket (NYSE:NEU) last issued its earnings results on Thursday, October 30th. The specialty chemicals company reported $10.67 EPS for the quarter. NewMarket had a net margin of 16.33% and a return on equity of 28.53%. The company had revenue of $690.31 million during the quarter.

NewMarket Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 15th will be paid a dividend of $3.00 per share. The ex-dividend date is Monday, December 15th. This is a boost from NewMarket’s previous quarterly dividend of $2.75. This represents a $12.00 annualized dividend and a yield of 1.7%. NewMarket’s dividend payout ratio is currently 25.35%.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “buy (b-)” rating on shares of NewMarket in a research note on Monday. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy”.

NewMarket Profile

NewMarket Corporation is a specialty chemicals and lubricants company headquartered in Richmond, Virginia. Through its Valvoline business, the company markets a broad portfolio of automotive aftermarket products, including engine oils, transmission fluids, greases and vehicle care solutions. Valvoline products are distributed through retail and commercial channels as well as a network of quick-lube service centers that provide oil changes, preventive maintenance and related services.

In its chemical additives segment, NewMarket develops, manufactures and sells performance additives for fuels, lubricants and industrial fluids.