Kestra Investment Management LLC Makes New Investment in NewMarket Co. (NYSE:NEU)

Kestra Investment Management LLC purchased a new position in shares of NewMarket Co. (NYSE:NEU) during the second quarter, Holdings Channel.com reports. The firm purchased 701 shares of the specialty chemicals company’s stock, valued at approximately $361,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Front Row Advisors LLC bought a new position in NewMarket during the second quarter worth $220,000. Creative Planning raised its holdings in shares of NewMarket by 9.4% during the second quarter. Creative Planning now owns 1,105 shares of the specialty chemicals company’s stock valued at $570,000 after purchasing an additional 95 shares during the period. Susquehanna Fundamental Investments LLC raised its holdings in shares of NewMarket by 208.4% during the second quarter. Susquehanna Fundamental Investments LLC now owns 1,132 shares of the specialty chemicals company’s stock valued at $584,000 after purchasing an additional 765 shares during the period. Millennium Management LLC boosted its position in shares of NewMarket by 5,480.4% during the 2nd quarter. Millennium Management LLC now owns 18,192 shares of the specialty chemicals company’s stock worth $9,379,000 after purchasing an additional 17,866 shares in the last quarter. Finally, Dark Forest Capital Management LP grew its stake in shares of NewMarket by 23.7% in the 2nd quarter. Dark Forest Capital Management LP now owns 392 shares of the specialty chemicals company’s stock valued at $202,000 after buying an additional 75 shares during the period. 61.09% of the stock is currently owned by institutional investors.

Insider Transactions at NewMarket

In other NewMarket news, CAO Bruce R. Hazelgrove III sold 1,270 shares of the firm’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 transaction, the chief accounting officer now directly owns 358 shares in the company, valued at approximately $194,862.98. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 20.40% of the company’s stock.

NewMarket Stock Performance

NYSE NEU opened at $551.39 on Tuesday. The company has a market cap of $5.29 billion, a P/E ratio of 13.26 and a beta of 0.50. The company has a fifty day simple moving average of $553.77 and a 200 day simple moving average of $557.74. The company has a current ratio of 2.66, a quick ratio of 1.48 and a debt-to-equity ratio of 0.95. NewMarket Co. has a 12-month low of $436.90 and a 12-month high of $650.00.

NewMarket (NYSE:NEU) last issued its quarterly earnings data on Monday, July 29th. The specialty chemicals company reported $11.63 earnings per share (EPS) for the quarter. The firm had revenue of $710.23 million during 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 disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 16th will be paid a $2.50 dividend. This represents a $10.00 annualized dividend and a dividend yield of 1.81%. The ex-dividend date is Monday, September 16th. NewMarket’s dividend payout ratio (DPR) is presently 24.06%.

Analyst Ratings Changes

Separately, StockNews.com raised NewMarket from a “buy” rating to a “strong-buy” rating in a research note 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.