Victory Capital Management Inc. Has $17.63 Million Position in NewMarket Co. (NYSE:NEU)

Victory Capital Management Inc. lifted its stake in shares of NewMarket Co. (NYSE:NEU – Get Rating) by 223.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 51,172 shares of the specialty chemicals company’s stock after acquiring an additional 35,365 shares during the period. Victory Capital Management Inc. owned 0.52% of NewMarket worth $17,629,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of NEU. Bank of New York Mellon Corp lifted its position in shares of NewMarket by 0.7% during the 1st quarter. Bank of New York Mellon Corp now owns 105,010 shares of the specialty chemicals company’s stock valued at $34,063,000 after acquiring an additional 700 shares during the period. PNC Financial Services Group Inc. increased its stake in NewMarket by 29.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,949 shares of the specialty chemicals company’s stock valued at $955,000 after purchasing an additional 667 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in NewMarket during the 1st quarter valued at $252,000. MetLife Investment Management LLC increased its stake in NewMarket by 31.8% during the 1st quarter. MetLife Investment Management LLC now owns 4,414 shares of the specialty chemicals company’s stock valued at $1,432,000 after purchasing an additional 1,066 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in NewMarket by 1.0% during the 1st quarter. Rhumbline Advisers now owns 24,179 shares of the specialty chemicals company’s stock valued at $7,843,000 after purchasing an additional 243 shares in the last quarter. Institutional investors and hedge funds own 58.48% of the company’s stock.

NewMarket Stock Performance

NYSE NEU opened at $397.90 on Tuesday. NewMarket Co. has a 1 year low of $280.28 and a 1 year high of $404.60. The company has a debt-to-equity ratio of 1.17, a current ratio of 3.16 and a quick ratio of 1.58. The firm has a market cap of $3.83 billion, a price-to-earnings ratio of 12.35 and a beta of 0.37. The company has a fifty day moving average price of $372.16 and a 200-day moving average price of $343.76.

NewMarket Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 3rd. Stockholders of record on Thursday, June 15th will be paid a $2.25 dividend. This is a positive change from NewMarket’s previous quarterly dividend of $2.10. The ex-dividend date of this dividend is Wednesday, June 14th. This represents a $9.00 annualized dividend and a dividend yield of 2.26%. NewMarket’s dividend payout ratio is presently 26.08%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of NewMarket from a “strong-buy” rating to a “buy” rating in a research note on Saturday.

About NewMarket

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NewMarket Corp. operates as a holding company. The firm’s segment include petroleum additives. Petroleum additives are used in lubricating oils and fuels to enhance their performance in machinery, vehicles, and other equipment. It manages properties owned in Virginia and provides various administrative services.