AXQ Capital LP Makes New Investment in NewMarket Co. (NYSE:NEU)

AXQ Capital LP bought a new position in shares of NewMarket Co. (NYSE:NEU) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 557 shares of the specialty chemicals company’s stock, valued at approximately $294,000.

A number of other institutional investors also recently bought and sold shares of NEU. Eagle Bay Advisors LLC purchased a new stake in shares of NewMarket in the fourth quarter valued at $40,000. Centricity Wealth Management LLC purchased a new stake in shares of NewMarket in the fourth quarter valued at $56,000. Blue Trust Inc. lifted its position in shares of NewMarket by 55.3% in the fourth quarter. Blue Trust Inc. now owns 118 shares of the specialty chemicals company’s stock valued at $65,000 after acquiring an additional 42 shares in the last quarter. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of NewMarket in the fourth quarter valued at $74,000. Finally, Steward Partners Investment Advisory LLC lifted its position in shares of NewMarket by 481.5% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 157 shares of the specialty chemicals company’s stock valued at $83,000 after acquiring an additional 130 shares in the last quarter. 61.09% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded NewMarket from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 19th.

NewMarket Stock Performance

NYSE NEU opened at $529.99 on Monday. The business’s 50-day moving average price is $527.04 and its 200 day moving average price is $532.95. NewMarket Co. has a twelve month low of $480.00 and a twelve month high of $638.21. The company has a market capitalization of $5.03 billion, a PE ratio of 10.99 and a beta of 0.41. The company has a current ratio of 2.75, a quick ratio of 1.40 and a debt-to-equity ratio of 0.66.

NewMarket (NYSE:NEU) last released its earnings results on Monday, February 3rd. The specialty chemicals company reported $11.56 earnings per share for the quarter. NewMarket had a return on equity of 35.48% and a net margin of 16.59%.

NewMarket Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 17th will be given a dividend of $2.75 per share. The ex-dividend date is Monday, March 17th. This is an increase from NewMarket’s previous quarterly dividend of $2.50. This represents a $11.00 annualized dividend and a yield of 2.08%. NewMarket’s dividend payout ratio is 22.82%.

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.