Edgestream Partners L.P. Invests $1.34 Million in NewMarket Co. (NYSE:NEU)

Edgestream Partners L.P. purchased a new position in NewMarket Co. (NYSE:NEU) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 3,332 shares of the specialty chemicals company’s stock, valued at approximately $1,340,000.

A number of other institutional investors also recently made changes to their positions in the stock. Commonwealth Equity Services LLC raised its holdings in shares of NewMarket by 38.9% in the second quarter. Commonwealth Equity Services LLC now owns 1,856 shares of the specialty chemicals company’s stock worth $747,000 after acquiring an additional 520 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of NewMarket by 8.0% in the second quarter. Dimensional Fund Advisors LP now owns 137,410 shares of the specialty chemicals company’s stock worth $55,257,000 after acquiring an additional 10,213 shares during the last quarter. AdvisorShares Investments LLC acquired a new position in NewMarket in the second quarter valued at $398,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in NewMarket by 6.5% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 3,211 shares of the specialty chemicals company’s stock valued at $1,291,000 after purchasing an additional 196 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. acquired a new position in NewMarket in the second quarter valued at $1,410,000. 60.99% of the stock is owned by institutional investors and hedge funds.

NewMarket Stock Performance

NewMarket stock opened at $516.44 on Tuesday. The firm has a market capitalization of $4.95 billion, a P/E ratio of 12.50 and a beta of 0.37. The stock has a fifty day moving average price of $468.39 and a 200 day moving average price of $441.68. NewMarket Co. has a 52 week low of $297.62 and a 52 week high of $518.31. The company has a current ratio of 3.21, a quick ratio of 1.69 and a debt-to-equity ratio of 0.80.

NewMarket (NYSE:NEU) last released its earnings results on Wednesday, October 25th. The specialty chemicals company reported $11.60 EPS for the quarter. The firm had revenue of $667.15 million during the quarter. NewMarket had a return on equity of 46.27% and a net margin of 14.57%.

NewMarket Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 15th will be given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date of this dividend is Thursday, December 14th. NewMarket’s dividend payout ratio (DPR) is presently 21.79%.

Analysts Set New Price Targets

Separately, StockNews.com upgraded NewMarket from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 13th.

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.