RK Asset Management LLC bought a new position in shares of NewMarket Co. (NYSE:NEU) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund bought 8,589 shares of the specialty chemicals company’s stock, valued at approximately $3,265,000. NewMarket makes up about 2.9% of RK Asset Management LLC’s investment portfolio, making the stock its 15th biggest position. RK Asset Management LLC owned 0.08% of NewMarket at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NEU. MCF Advisors LLC acquired a new position in shares of NewMarket during the 4th quarter worth about $35,000. JJJ Advisors Inc. raised its stake in NewMarket by 304.3% during the 4th quarter. JJJ Advisors Inc. now owns 93 shares of the specialty chemicals company’s stock valued at $37,000 after acquiring an additional 70 shares during the last quarter. Graves Light Private Wealth Management Inc. purchased a new position in shares of NewMarket during the 4th quarter worth approximately $45,000. Huntington National Bank raised its stake in shares of NewMarket by 17.4% during the 4th quarter. Huntington National Bank now owns 169 shares of the specialty chemicals company’s stock worth $67,000 after buying an additional 25 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its stake in shares of NewMarket by 216.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 412 shares of the specialty chemicals company’s stock worth $141,000 after buying an additional 282 shares in the last quarter. 55.69% of the stock is owned by hedge funds and other institutional investors.
Shares of NEU stock traded down $0.05 during trading hours on Thursday, reaching $384.18. 34 shares of the company’s stock were exchanged, compared to its average volume of 28,932. The company has a market cap of $4.20 billion, a P/E ratio of 16.73 and a beta of 0.41. The company’s 50 day moving average is $388.72 and its two-hundred day moving average is $383.85. NewMarket Co. has a 1 year low of $332.45 and a 1 year high of $458.51. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.77 and a quick ratio of 1.57.
The company also recently declared a quarterly dividend, which was paid on Thursday, April 1st. Investors of record on Monday, March 15th were issued a $1.90 dividend. This represents a $7.60 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date was Friday, March 12th.
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, and other applications where metal-to-metal moving parts are utilized; and engine oil, driveline, and industrial additives.
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