Raymond James & Associates Has $636,000 Holdings in NewMarket Co. (NYSE:NEU)

Raymond James & Associates lifted its stake in shares of NewMarket Co. (NYSE:NEU) by 35.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,165 shares of the specialty chemicals company’s stock after buying an additional 303 shares during the period. Raymond James & Associates’ holdings in NewMarket were worth $636,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of NEU. LSV Asset Management increased its holdings in shares of NewMarket by 62.7% during the third quarter. LSV Asset Management now owns 229,568 shares of the specialty chemicals company’s stock worth $104,463,000 after buying an additional 88,476 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of NewMarket by 5.9% in the third quarter. Vanguard Group Inc. now owns 717,923 shares of the specialty chemicals company’s stock worth $326,684,000 after purchasing an additional 40,028 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its stake in shares of NewMarket by 334.3% in the third quarter. Robeco Institutional Asset Management B.V. now owns 50,027 shares of the specialty chemicals company’s stock worth $22,764,000 after purchasing an additional 38,509 shares during the last quarter. Invesco Ltd. grew its stake in shares of NewMarket by 41.2% in the third quarter. Invesco Ltd. now owns 105,136 shares of the specialty chemicals company’s stock worth $47,841,000 after purchasing an additional 30,694 shares during the last quarter. Finally, Acadian Asset Management LLC grew its stake in shares of NewMarket by 94.3% in the third quarter. Acadian Asset Management LLC now owns 51,799 shares of the specialty chemicals company’s stock worth $23,560,000 after purchasing an additional 25,139 shares during the last quarter. 61.09% of the stock is currently owned by institutional investors and hedge funds.

NewMarket Stock Performance

Shares of NewMarket stock opened at $581.79 on Thursday. The company has a quick ratio of 1.60, a current ratio of 2.85 and a debt-to-equity ratio of 0.60. NewMarket Co. has a twelve month low of $362.16 and a twelve month high of $650.00. The stock has a market cap of $5.58 billion, a price-to-earnings ratio of 14.39 and a beta of 0.45. The company’s fifty day moving average is $615.31 and its 200 day moving average is $560.82.

NewMarket (NYSE:NEU) last issued its quarterly earnings results on Wednesday, January 31st. The specialty chemicals company reported $8.38 EPS for the quarter. The business had revenue of $643.35 million for the quarter. NewMarket had a net margin of 14.41% and a return on equity of 41.33%.

NewMarket Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were given a dividend of $2.50 per share. The ex-dividend date was Thursday, March 14th. This represents a $10.00 dividend on an annualized basis and a yield of 1.72%. This is a boost from NewMarket’s previous quarterly dividend of $2.25. NewMarket’s dividend payout ratio is 24.73%.

Analyst Ratings Changes

Separately, StockNews.com cut shares of NewMarket from a “strong-buy” rating to a “buy” rating in a research note on Sunday, February 4th.

NewMarket Company 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.