Parallel Advisors LLC Buys 15 Shares of NewMarket Corporation $NEU

Parallel Advisors LLC lifted its holdings in shares of NewMarket Corporation (NYSE:NEU) by 2.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 740 shares of the specialty chemicals company’s stock after purchasing an additional 15 shares during the period. Parallel Advisors LLC’s holdings in NewMarket were worth $511,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. WBI Investments LLC boosted its holdings in NewMarket by 180.5% in the first quarter. WBI Investments LLC now owns 1,989 shares of the specialty chemicals company’s stock valued at $1,127,000 after acquiring an additional 1,280 shares during the last quarter. Impala Asset Management LLC acquired a new stake in shares of NewMarket during the first quarter worth about $36,819,000. Jane Street Group LLC grew its holdings in shares of NewMarket by 1,081.3% during the first quarter. Jane Street Group LLC now owns 10,974 shares of the specialty chemicals company’s stock worth $6,216,000 after buying an additional 10,045 shares in the last quarter. SCS Capital Management LLC bought a new position in shares of NewMarket during the first quarter worth about $3,848,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of NewMarket by 9.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 22,268 shares of the specialty chemicals company’s stock worth $12,614,000 after buying an additional 1,995 shares in the last quarter. Institutional investors own 61.09% of the company’s stock.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded NewMarket from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th.

NewMarket Price Performance

NewMarket stock opened at $814.91 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.43 and a current ratio of 2.66. NewMarket Corporation has a 52 week low of $480.00 and a 52 week high of $854.75. The stock has a market capitalization of $7.66 billion, a P/E ratio of 16.15 and a beta of 0.49. The stock has a fifty day moving average of $770.89 and a 200-day moving average of $667.65.

NewMarket (NYSE:NEU) last posted its quarterly earnings results on Wednesday, July 30th. The specialty chemicals company reported $11.84 EPS for the quarter. NewMarket had a return on equity of 32.25% and a net margin of 17.28%.The company had revenue of $698.51 million during the quarter.

NewMarket Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be issued a $2.75 dividend. This represents a $11.00 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Monday, September 15th. NewMarket’s dividend payout ratio is presently 21.80%.

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.