Virtu Financial LLC acquired a new position in NewMarket Co. (NYSE:NEU) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,460 shares of the specialty chemicals company’s stock, valued at approximately $633,000.
A number of other large investors have also modified their holdings of the stock. Mercer Global Advisors Inc. ADV bought a new position in NewMarket in the first quarter valued at approximately $834,000. Contravisory Investment Management Inc. bought a new position in shares of NewMarket during the first quarter worth $117,000. Deutsche Bank AG boosted its position in shares of NewMarket by 3.8% during the fourth quarter. Deutsche Bank AG now owns 6,931 shares of the specialty chemicals company’s stock worth $2,854,000 after purchasing an additional 252 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of NewMarket by 7.1% during the fourth quarter. Geode Capital Management LLC now owns 83,419 shares of the specialty chemicals company’s stock worth $34,376,000 after purchasing an additional 5,552 shares in the last quarter. Finally, Norges Bank bought a new position in shares of NewMarket during the fourth quarter worth $32,229,000. Hedge funds and other institutional investors own 60.71% of the company’s stock.
Shares of NewMarket stock traded up $3.30 during trading on Friday, hitting $421.85. 22,504 shares of the stock were exchanged, compared to its average volume of 43,832. The firm has a market capitalization of $4.72 billion, a PE ratio of 20.74 and a beta of 0.47. The company has a debt-to-equity ratio of 1.53, a current ratio of 3.29 and a quick ratio of 1.77. NewMarket Co. has a 1-year low of $352.89 and a 1-year high of $452.54.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 17th will be issued a dividend of $1.75 per share. This represents a $7.00 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date is Friday, June 14th. NewMarket’s dividend payout ratio (DPR) is presently 34.41%.
In other NewMarket news, Chairman Thomas E. Gottwald sold 11,000 shares of the company’s stock in a transaction that occurred on Friday, February 22nd. The shares were sold at an average price of $437.84, for a total value of $4,816,240.00. Following the completion of the transaction, the chairman now directly owns 145,168 shares in the company, valued at approximately $63,560,357.12. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director James E. Rogers sold 500 shares of the company’s stock in a transaction that occurred on Tuesday, February 12th. The shares were sold at an average price of $433.97, for a total transaction of $216,985.00. The disclosure for this sale can be found here. 17.02% of the stock is owned by corporate insiders.
Separately, Buckingham Research started coverage on shares of NewMarket in a report on Monday, April 1st. They set an “underperform” rating and a $380.00 price objective on the stock.
NewMarket Corporation, through its subsidiaries, engages in the petroleum additives businesses. 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, metalworking fluids, and other applications where metal-to-metal moving parts are utilized; and engine oil, driveline, and industrial additives.
Receive News & Ratings for NewMarket Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NewMarket and related companies with MarketBeat.com's FREE daily email newsletter.