2,090 Shares in NewMarket Co. (NYSE:NEU) Purchased by Convergence Investment Partners LLC

Convergence Investment Partners LLC acquired a new position in shares of NewMarket Co. (NYSE:NEU) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 2,090 shares of the specialty chemicals company’s stock, valued at approximately $1,141,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NEU. Vanguard Group Inc. grew its holdings in NewMarket by 5.9% in the 3rd quarter. Vanguard Group Inc. now owns 717,923 shares of the specialty chemicals company’s stock valued at $326,684,000 after buying an additional 40,028 shares during the period. London Co. of Virginia grew its holdings in NewMarket by 0.3% in the 3rd quarter. London Co. of Virginia now owns 664,683 shares of the specialty chemicals company’s stock valued at $302,457,000 after buying an additional 1,796 shares during the period. LSV Asset Management grew its holdings in NewMarket by 62.7% in the 3rd quarter. LSV Asset Management now owns 229,568 shares of the specialty chemicals company’s stock valued at $104,463,000 after buying an additional 88,476 shares during the period. Invesco Ltd. grew its holdings in NewMarket by 41.2% in the 3rd quarter. Invesco Ltd. now owns 105,136 shares of the specialty chemicals company’s stock valued at $47,841,000 after buying an additional 30,694 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in NewMarket by 1.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 97,587 shares of the specialty chemicals company’s stock valued at $44,406,000 after buying an additional 1,787 shares during the period. Hedge funds and other institutional investors own 61.09% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com cut NewMarket from a “strong-buy” rating to a “buy” rating in a report on Sunday, February 4th.

NewMarket Trading Down 0.8 %

NEU traded down $4.18 on Friday, reaching $529.41. 65,326 shares of the company’s stock were exchanged, compared to its average volume of 39,737. The company’s 50 day moving average is $612.63 and its 200-day moving average is $561.87. The company has a market cap of $5.08 billion, a price-to-earnings ratio of 12.74 and a beta of 0.45. NewMarket Co. has a twelve month low of $371.69 and a twelve month high of $650.00. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.60 and a current ratio of 2.86.

NewMarket (NYSE:NEU) last posted its earnings results on Wednesday, April 24th. The specialty chemicals company reported $11.23 earnings per share (EPS) for the quarter. The firm had revenue of $696.74 million during the quarter. NewMarket had a net margin of 14.82% and a return on equity of 38.99%.

NewMarket Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be given a dividend of $2.50 per share. This represents a $10.00 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date is Friday, June 14th. NewMarket’s dividend payout ratio (DPR) is presently 24.06%.

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.