NewMarket Co. (NYSE:NEU) Stake Raised by Gallacher Capital Management LLC

Gallacher Capital Management LLC grew its holdings in shares of NewMarket Co. (NYSE:NEU) by 234.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,279 shares of the specialty chemicals company’s stock after purchasing an additional 897 shares during the period. Gallacher Capital Management LLC’s holdings in NewMarket were worth $660,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. UMB Bank n.a. lifted its stake in NewMarket by 64.5% during the first quarter. UMB Bank n.a. now owns 51 shares of the specialty chemicals company’s stock valued at $32,000 after purchasing an additional 20 shares during the last quarter. Arizona State Retirement System lifted its position in shares of NewMarket by 1.8% during the 2nd quarter. Arizona State Retirement System now owns 2,013 shares of the specialty chemicals company’s stock valued at $1,038,000 after acquiring an additional 36 shares during the last quarter. EntryPoint Capital LLC boosted its stake in shares of NewMarket by 29.6% during the 1st quarter. EntryPoint Capital LLC now owns 175 shares of the specialty chemicals company’s stock worth $111,000 after acquiring an additional 40 shares in the last quarter. Park Avenue Securities LLC grew its holdings in shares of NewMarket by 4.0% in the 1st quarter. Park Avenue Securities LLC now owns 1,254 shares of the specialty chemicals company’s stock worth $796,000 after acquiring an additional 48 shares during the last quarter. Finally, ORG Partners LLC acquired a new stake in shares of NewMarket during the first quarter worth $30,000. Institutional investors and hedge funds own 61.09% of the company’s stock.

NewMarket Stock Performance

NewMarket stock opened at $535.21 on Friday. NewMarket Co. has a fifty-two week low of $436.90 and a fifty-two week high of $650.00. The firm’s 50 day simple moving average is $545.12 and its 200-day simple moving average is $565.94. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.66 and a quick ratio of 1.48. The company has a market cap of $5.13 billion, a P/E ratio of 12.87 and a beta of 0.50.

NewMarket (NYSE:NEU) last posted its quarterly earnings data on Monday, July 29th. The specialty chemicals company reported $11.63 earnings per share for the quarter. The firm had revenue of $710.23 million for the quarter. NewMarket had a net margin of 15.12% and a return on equity of 37.06%.

NewMarket Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 16th will be paid a $2.50 dividend. This represents a $10.00 annualized dividend and a yield of 1.87%. The ex-dividend date is Monday, September 16th. NewMarket’s dividend payout ratio is currently 24.06%.

Insider Buying and Selling

In related news, CAO Bruce R. Hazelgrove III sold 1,270 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $544.31, for a total transaction of $691,273.70. Following the completion of the sale, the chief accounting officer now directly owns 358 shares in the company, valued at $194,862.98. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 20.40% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com upgraded NewMarket from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 6th.

About NewMarket

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.