GAMMA Investing LLC Has $119,000 Stake in NewMarket Co. (NYSE:NEU)

GAMMA Investing LLC increased its stake in shares of NewMarket Co. (NYSE:NEU) by 95.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 215 shares of the specialty chemicals company’s stock after buying an additional 105 shares during the quarter. GAMMA Investing LLC’s holdings in NewMarket were worth $119,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Handelsbanken Fonder AB grew its holdings in shares of NewMarket by 43.8% during the 3rd quarter. Handelsbanken Fonder AB now owns 2,300 shares of the specialty chemicals company’s stock worth $1,269,000 after purchasing an additional 700 shares in the last quarter. waypoint wealth counsel bought a new position in NewMarket in the 3rd quarter valued at about $211,000. JLB & Associates Inc. acquired a new position in shares of NewMarket in the 3rd quarter valued at approximately $228,000. Sanctuary Advisors LLC bought a new stake in shares of NewMarket during the 2nd quarter worth approximately $428,000. Finally, Kestra Investment Management LLC acquired a new stake in shares of NewMarket during the 2nd quarter worth approximately $361,000. Institutional investors own 61.09% of the company’s stock.

NewMarket Price Performance

Shares of NEU stock opened at $525.23 on Monday. NewMarket Co. has a twelve month low of $436.90 and a twelve month high of $650.00. The company has a quick ratio of 1.48, a current ratio of 2.66 and a debt-to-equity ratio of 0.95. The business has a fifty day simple moving average of $549.04 and a 200 day simple moving average of $551.79. The company has a market cap of $5.04 billion, a P/E ratio of 12.63 and a beta of 0.49.

NewMarket (NYSE:NEU) last posted its quarterly earnings results on Monday, July 29th. The specialty chemicals company reported $11.63 earnings per share for the quarter. The company 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 business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 16th were issued a dividend of $2.50 per share. The ex-dividend date was Monday, September 16th. This represents a $10.00 annualized dividend and a dividend yield of 1.90%. NewMarket’s dividend payout ratio (DPR) is presently 24.06%.

Insider Activity

In related news, CAO Bruce R. Hazelgrove III sold 1,270 shares of the business’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $544.31, for a total transaction of $691,273.70. Following the sale, the chief accounting officer now owns 358 shares in the company, valued at $194,862.98. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 20.40% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

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

NewMarket Profile

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.