Norges Bank Invests $64.65 Million in NewMarket Corporation $NEU

Norges Bank purchased a new position in NewMarket Corporation (NYSE:NEU) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 94,075 shares of the specialty chemicals company’s stock, valued at approximately $64,654,000. Norges Bank owned about 1.00% of NewMarket at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. GAMMA Investing LLC grew its holdings in shares of NewMarket by 6.8% during the fourth quarter. GAMMA Investing LLC now owns 235 shares of the specialty chemicals company’s stock valued at $162,000 after buying an additional 15 shares during the last quarter. OneDigital Investment Advisors LLC raised its holdings in NewMarket by 5.8% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 329 shares of the specialty chemicals company’s stock worth $273,000 after acquiring an additional 18 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in NewMarket by 125.0% in the 3rd quarter. Smartleaf Asset Management LLC now owns 45 shares of the specialty chemicals company’s stock valued at $37,000 after acquiring an additional 25 shares in the last quarter. Hancock Whitney Corp lifted its position in NewMarket by 1.0% in the 3rd quarter. Hancock Whitney Corp now owns 2,622 shares of the specialty chemicals company’s stock valued at $2,172,000 after acquiring an additional 26 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its position in NewMarket by 1.8% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,568 shares of the specialty chemicals company’s stock valued at $1,078,000 after acquiring an additional 28 shares in the last quarter. Hedge funds and other institutional investors own 61.09% of the company’s stock.

NewMarket Stock Down 0.7%

Shares of NewMarket stock opened at $789.09 on Friday. The company has a quick ratio of 1.37, a current ratio of 2.55 and a debt-to-equity ratio of 0.54. NewMarket Corporation has a twelve month low of $580.03 and a twelve month high of $875.97. The company has a market cap of $7.26 billion, a price-to-earnings ratio of 18.02 and a beta of 0.56. The company’s 50 day moving average is $688.73 and its 200 day moving average is $683.94.

NewMarket (NYSE:NEU) last released its quarterly earnings results on Wednesday, April 22nd. The specialty chemicals company reported $12.62 earnings per share for the quarter. NewMarket had a net margin of 15.25% and a return on equity of 24.12%. The business had revenue of $669.72 million for the quarter.

NewMarket Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th will be given a $3.00 dividend. The ex-dividend date is Monday, June 15th. This represents a $12.00 annualized dividend and a yield of 1.5%. NewMarket’s dividend payout ratio (DPR) is presently 27.41%.

Analysts Set New Price Targets

Separately, Weiss Ratings cut NewMarket from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, March 20th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, NewMarket currently has a consensus rating of “Hold”.

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.