Robeco Institutional Asset Management B.V. Purchases 2,153 Shares of NewMarket Corporation $NEU

Robeco Institutional Asset Management B.V. increased its position in NewMarket Corporation (NYSE:NEU) by 20.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 12,537 shares of the specialty chemicals company’s stock after purchasing an additional 2,153 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in NewMarket were worth $10,383,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NEU. LSV Asset Management raised its holdings in NewMarket by 27.8% in the second quarter. LSV Asset Management now owns 262,148 shares of the specialty chemicals company’s stock worth $181,108,000 after purchasing an additional 57,101 shares in the last quarter. Geode Capital Management LLC grew its position in shares of NewMarket by 20.1% in the 2nd quarter. Geode Capital Management LLC now owns 156,613 shares of the specialty chemicals company’s stock worth $108,212,000 after buying an additional 26,254 shares during the period. American Century Companies Inc. increased its stake in shares of NewMarket by 8.2% in the 2nd quarter. American Century Companies Inc. now owns 113,754 shares of the specialty chemicals company’s stock worth $78,588,000 after acquiring an additional 8,634 shares in the last quarter. Bank of New York Mellon Corp lifted its position in NewMarket by 3.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 92,886 shares of the specialty chemicals company’s stock valued at $64,171,000 after acquiring an additional 2,727 shares during the period. Finally, Norges Bank bought a new stake in NewMarket during the second quarter worth about $51,515,000. 61.09% of the stock is owned by hedge funds and other institutional investors.

NewMarket Stock Performance

Shares of NEU stock opened at $722.24 on Friday. The company has a market capitalization of $6.79 billion, a price-to-earnings ratio of 15.26 and a beta of 0.49. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.43 and a current ratio of 2.68. NewMarket Corporation has a one year low of $480.00 and a one year high of $875.97. The company’s 50-day moving average is $742.50 and its 200 day moving average is $760.65.

NewMarket (NYSE:NEU) last issued its earnings results on Thursday, October 30th. The specialty chemicals company reported $10.67 earnings per share (EPS) for the quarter. NewMarket had a net margin of 16.33% and a return on equity of 28.53%. The firm had revenue of $690.31 million for the quarter.

NewMarket Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Monday, December 15th were issued a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Monday, December 15th. This is a positive change from NewMarket’s previous quarterly dividend of $2.75. NewMarket’s dividend payout ratio is 25.35%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of NewMarket in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy”.

About NewMarket

NewMarket Corporation is a specialty chemicals and lubricants company headquartered in Richmond, Virginia. Through its Valvoline business, the company markets a broad portfolio of automotive aftermarket products, including engine oils, transmission fluids, greases and vehicle care solutions. Valvoline products are distributed through retail and commercial channels as well as a network of quick-lube service centers that provide oil changes, preventive maintenance and related services.

In its chemical additives segment, NewMarket develops, manufactures and sells performance additives for fuels, lubricants and industrial fluids.