Great Lakes Advisors LLC lifted its holdings in NewMarket Co. (NYSE:NEU) by 44.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,267 shares of the specialty chemicals company’s stock after purchasing an additional 2,252 shares during the quarter. Great Lakes Advisors LLC owned 0.06% of NewMarket worth $2,947,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also bought and sold shares of NEU. Signaturefd LLC raised its stake in shares of NewMarket by 7,775.0% in the second quarter. Signaturefd LLC now owns 315 shares of the specialty chemicals company’s stock worth $127,000 after purchasing an additional 311 shares during the last quarter. Piedmont Investment Advisors Inc. purchased a new position in shares of NewMarket in the third quarter worth $213,000. Janney Montgomery Scott LLC purchased a new position in shares of NewMarket in the second quarter worth $239,000. South State Corp purchased a new position in shares of NewMarket in the third quarter worth $250,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of NewMarket in the third quarter worth $252,000. Hedge funds and other institutional investors own 56.19% of the company’s stock.
NEU stock opened at $421.49 on Tuesday. NewMarket Co. has a 1-year low of $352.89 and a 1-year high of $437.63. The company has a debt-to-equity ratio of 1.45, a current ratio of 3.28 and a quick ratio of 1.88. The firm has a market capitalization of $4.80 billion, a PE ratio of 23.57 and a beta of 0.67.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Stockholders of record on Monday, December 17th will be paid a $1.75 dividend. This represents a $7.00 annualized dividend and a dividend yield of 1.66%. The ex-dividend date of this dividend is Friday, December 14th.
Separately, ValuEngine upgraded NewMarket from a “sell” rating to a “hold” rating in a research note on Monday, August 20th.
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NewMarket Corporation, through its subsidiaries, engages in the petroleum additives businesses. It offers lubricant additives for use in various vehicle and industrial applications, such as engine oils, transmission fluids, off-road powertrain and hydraulic systems, gear oils, hydraulic oils, turbine oils, metalworking fluids, and in other applications where metal-to-metal moving parts are utilized; and engine oil, driveline, and industrial additives.
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