Alberta Investment Management Corp Acquires New Position in NewMarket Co. (NYSE:NEU)

Alberta Investment Management Corp acquired a new stake in shares of NewMarket Co. (NYSE:NEUGet Rating) during the fourth quarter, HoldingsChannel reports. The fund acquired 10,652 shares of the specialty chemicals company’s stock, valued at approximately $3,651,000.

Other institutional investors also recently made changes to their positions in the company. First Trust Advisors LP increased its stake in shares of NewMarket by 75.5% during the first quarter. First Trust Advisors LP now owns 8,401 shares of the specialty chemicals company’s stock valued at $3,642,000 after buying an additional 3,614 shares during the period. Morgan Stanley increased its stake in shares of NewMarket by 182.6% during the second quarter. Morgan Stanley now owns 18,086 shares of the specialty chemicals company’s stock valued at $5,823,000 after buying an additional 11,686 shares during the period. Advisor Group Holdings Inc. increased its stake in shares of NewMarket by 26.5% during the third quarter. Advisor Group Holdings Inc. now owns 1,626 shares of the specialty chemicals company’s stock valued at $552,000 after buying an additional 341 shares during the period. Teacher Retirement System of Texas increased its stake in shares of NewMarket by 21.8% during the third quarter. Teacher Retirement System of Texas now owns 1,408 shares of the specialty chemicals company’s stock valued at $477,000 after buying an additional 252 shares during the period. Finally, Alliancebernstein L.P. increased its stake in shares of NewMarket by 24.2% during the third quarter. Alliancebernstein L.P. now owns 14,137 shares of the specialty chemicals company’s stock valued at $4,789,000 after buying an additional 2,755 shares during the period. 54.72% of the stock is currently owned by institutional investors and hedge funds.

NewMarket stock opened at $331.66 on Thursday. The company has a current ratio of 2.71, a quick ratio of 1.43 and a debt-to-equity ratio of 1.11. The business’s fifty day simple moving average is $330.36 and its two-hundred day simple moving average is $332.17. NewMarket Co. has a 12 month low of $296.05 and a 12 month high of $378.63. The company has a market capitalization of $3.40 billion, a price-to-earnings ratio of 19.57 and a beta of 0.32.

NewMarket (NYSE:NEUGet Rating) last released its earnings results on Wednesday, April 27th. The specialty chemicals company reported $6.33 EPS for the quarter. NewMarket had a return on equity of 23.72% and a net margin of 7.36%. The business had revenue of $662.55 million for the quarter.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 1st. Stockholders of record on Wednesday, June 15th will be paid a $2.10 dividend. This represents a $8.40 annualized dividend and a dividend yield of 2.53%. The ex-dividend date is Tuesday, June 14th. NewMarket’s dividend payout ratio is currently 49.56%.

Several research firms have recently issued reports on NEU. StockNews.com raised NewMarket from a “hold” rating to a “buy” rating in a research note on Saturday, May 7th. TheStreet lowered NewMarket from a “b” rating to a “c” rating in a research report on Thursday, February 3rd.

About NewMarket (Get Rating)

NewMarket Corporation, through its subsidiaries, engages in the petroleum additives business. 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.

Further Reading

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Institutional Ownership by Quarter for NewMarket (NYSE:NEU)

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