KLP Kapitalforvaltning AS Purchases New Stake in NewMarket Co. (NYSE:NEU)

KLP Kapitalforvaltning AS purchased a new stake in shares of NewMarket Co. (NYSE:NEU) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 3,200 shares of the specialty chemicals company’s stock, valued at approximately $1,698,000.

A number of other large investors have also added to or reduced their stakes in the company. AXQ Capital LP purchased a new stake in shares of NewMarket during the fourth quarter worth about $294,000. American Century Companies Inc. raised its position in NewMarket by 147.2% during the 4th quarter. American Century Companies Inc. now owns 47,717 shares of the specialty chemicals company’s stock valued at $25,211,000 after purchasing an additional 28,417 shares during the last quarter. Semanteon Capital Management LP lifted its holdings in NewMarket by 30.7% in the 4th quarter. Semanteon Capital Management LP now owns 2,730 shares of the specialty chemicals company’s stock worth $1,442,000 after buying an additional 642 shares during the period. North Forty Two & Co. bought a new stake in shares of NewMarket in the 4th quarter worth approximately $1,726,000. Finally, Xponance Inc. increased its stake in shares of NewMarket by 5.9% during the fourth quarter. Xponance Inc. now owns 838 shares of the specialty chemicals company’s stock valued at $443,000 after buying an additional 47 shares during the period. Institutional investors own 61.09% of the company’s stock.

NewMarket Price Performance

NEU stock opened at $552.19 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.75 and a quick ratio of 1.40. NewMarket Co. has a 1 year low of $480.00 and a 1 year high of $637.40. The firm has a 50-day moving average of $532.52 and a 200 day moving average of $533.20. The company has a market cap of $5.24 billion, a P/E ratio of 11.45 and a beta of 0.41.

NewMarket (NYSE:NEU) last announced its earnings results on Monday, February 3rd. The specialty chemicals company reported $11.56 earnings per share (EPS) 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. Stockholders of record on Monday, March 17th will be issued a dividend of $2.75 per share. This represents a $11.00 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date is Monday, March 17th. This is a boost from NewMarket’s previous quarterly dividend of $2.50. NewMarket’s payout ratio is 22.82%.

Wall Street Analyst Weigh In

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

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.