27,280 Shares in NewMarket Co. (NYSE:NEU) Purchased by Pinebridge Investments L.P.

Pinebridge Investments L.P. bought a new position in shares of NewMarket Co. (NYSE:NEU) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 27,280 shares of the specialty chemicals company’s stock, valued at approximately $10,938,000.

A number of other institutional investors also recently bought and sold shares of NEU. O Shaughnessy Asset Management LLC acquired a new stake in NewMarket during the first quarter worth about $26,000. Steward Partners Investment Advisory LLC acquired a new stake in NewMarket during the second quarter worth about $41,000. Oppenheimer Asset Management Inc. grew its holdings in NewMarket by 49.4% during the second quarter. Oppenheimer Asset Management Inc. now owns 133 shares of the specialty chemicals company’s stock worth $53,000 after acquiring an additional 44 shares during the period. SRS Capital Advisors Inc. acquired a new stake in NewMarket during the second quarter worth about $54,000. Finally, BNP Paribas Arbitrage SA grew its holdings in NewMarket by 74.7% during the first quarter. BNP Paribas Arbitrage SA now owns 290 shares of the specialty chemicals company’s stock worth $126,000 after acquiring an additional 124 shares during the period. 55.50% of the stock is currently owned by hedge funds and other institutional investors.

NEU traded down $0.72 during trading on Friday, hitting $457.54. The company’s stock had a trading volume of 4,083 shares, compared to its average volume of 70,738. The company has a current ratio of 2.93, a quick ratio of 1.60 and a debt-to-equity ratio of 1.22. NewMarket Co. has a twelve month low of $352.89 and a twelve month high of $489.11. The business’s fifty day simple moving average is $458.65 and its 200 day simple moving average is $428.94. The firm has a market capitalization of $5.11 billion, a price-to-earnings ratio of 22.51 and a beta of 0.46.

NewMarket (NYSE:NEU) last issued its quarterly earnings data on Wednesday, July 31st. The specialty chemicals company reported $6.63 EPS for the quarter, beating the consensus estimate of $5.16 by $1.47. NewMarket had a return on equity of 47.25% and a net margin of 11.70%. The company had revenue of $563.42 million for the quarter. As a group, equities research analysts forecast that NewMarket Co. will post 23.63 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 16th will be issued a $1.90 dividend. This is a positive change from NewMarket’s previous quarterly dividend of $1.75. This represents a $7.60 annualized dividend and a yield of 1.66%. The ex-dividend date of this dividend is Friday, September 13th. NewMarket’s dividend payout ratio (DPR) is presently 34.41%.

Several research firms recently commented on NEU. Zacks Investment Research raised NewMarket from a “hold” rating to a “strong-buy” rating and set a $512.00 target price on the stock in a report on Friday, August 9th. Buckingham Research raised NewMarket from an “underperform” rating to a “neutral” rating and set a $420.00 price objective on the stock in a report on Friday, August 2nd.

NewMarket Company Profile

NewMarket Corporation, through its subsidiaries, engages in the petroleum additives businesses. 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, metalworking fluids, and other applications where metal-to-metal moving parts are utilized; and engine oil, driveline, and industrial additives.

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Institutional Ownership by Quarter for NewMarket (NYSE:NEU)

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