Healthcare of Ontario Pension Plan Trust Fund Invests $863,000 in NewMarket Co. (NYSE:NEU)

Healthcare of Ontario Pension Plan Trust Fund purchased a new position in NewMarket Co. (NYSE:NEU) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 1,564 shares of the specialty chemicals company’s stock, valued at approximately $863,000.

Other hedge funds also recently made changes to their positions in the company. Pacer Advisors Inc. boosted its holdings in NewMarket by 64.7% in the second quarter. Pacer Advisors Inc. now owns 198,249 shares of the specialty chemicals company’s stock valued at $102,211,000 after purchasing an additional 77,908 shares during the last quarter. International Assets Investment Management LLC grew its position in shares of NewMarket by 55,089.7% during the third quarter. International Assets Investment Management LLC now owns 21,524 shares of the specialty chemicals company’s stock worth $11,879,000 after buying an additional 21,485 shares in the last quarter. Millennium Management LLC increased its stake in shares of NewMarket by 5,480.4% in the second quarter. Millennium Management LLC now owns 18,192 shares of the specialty chemicals company’s stock worth $9,379,000 after buying an additional 17,866 shares during the last quarter. Los Angeles Capital Management LLC grew its holdings in NewMarket by 170.7% during the 2nd quarter. Los Angeles Capital Management LLC now owns 23,633 shares of the specialty chemicals company’s stock worth $12,184,000 after acquiring an additional 14,902 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of NewMarket by 8.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 159,467 shares of the specialty chemicals company’s stock worth $82,214,000 after purchasing an additional 12,110 shares during the last quarter. Hedge funds and other institutional investors own 61.09% of the company’s stock.

NewMarket Trading Up 1.6 %

NYSE:NEU opened at $542.19 on Tuesday. NewMarket Co. has a 52 week low of $494.04 and a 52 week high of $650.00. The company has a quick ratio of 1.50, a current ratio of 2.83 and a debt-to-equity ratio of 0.80. The company has a market cap of $5.21 billion, a PE ratio of 12.04 and a beta of 0.50. The business’s 50 day moving average is $538.01 and its two-hundred day moving average is $540.65.

NewMarket (NYSE:NEU) last posted its earnings results on Wednesday, October 23rd. The specialty chemicals company reported $13.79 EPS for the quarter. NewMarket had a return on equity of 35.79% and a net margin of 15.57%. The company had revenue of $724.95 million during the quarter.

NewMarket Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 16th will be issued a $2.50 dividend. The ex-dividend date is Monday, December 16th. This represents a $10.00 dividend on an annualized basis and a dividend yield of 1.84%. NewMarket’s dividend payout ratio (DPR) is presently 22.21%.

Wall Street Analyst Weigh In

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

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.