Pacer Advisors Inc. Purchases 28,684 Shares of NewMarket Corporation $NEU

Pacer Advisors Inc. raised its position in shares of NewMarket Corporation (NYSE:NEU) by 1,469.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,636 shares of the specialty chemicals company’s stock after acquiring an additional 28,684 shares during the period. Pacer Advisors Inc. owned approximately 0.33% of NewMarket worth $21,055,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC grew its holdings in shares of NewMarket by 6.8% in the fourth quarter. GAMMA Investing LLC now owns 235 shares of the specialty chemicals company’s stock valued at $162,000 after purchasing an additional 15 shares in the last quarter. OneDigital Investment Advisors LLC lifted its position in NewMarket by 5.8% during the third quarter. OneDigital Investment Advisors LLC now owns 329 shares of the specialty chemicals company’s stock valued at $273,000 after purchasing an additional 18 shares during the last quarter. Great Lakes Advisors LLC grew its stake in shares of NewMarket by 5.5% in the 4th quarter. Great Lakes Advisors LLC now owns 366 shares of the specialty chemicals company’s stock worth $252,000 after buying an additional 19 shares in the last quarter. Abel Hall LLC increased its holdings in shares of NewMarket by 6.3% in the 4th quarter. Abel Hall LLC now owns 335 shares of the specialty chemicals company’s stock worth $230,000 after buying an additional 20 shares during the last quarter. Finally, Janney Montgomery Scott LLC increased its holdings in shares of NewMarket by 4.1% in the 4th quarter. Janney Montgomery Scott LLC now owns 553 shares of the specialty chemicals company’s stock worth $380,000 after buying an additional 22 shares during the last quarter. 61.09% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded NewMarket from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, June 12th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy”.

NewMarket Stock Down 0.4%

NYSE NEU opened at $777.28 on Friday. The company has a quick ratio of 1.37, a current ratio of 2.55 and a debt-to-equity ratio of 0.54. NewMarket Corporation has a 52 week low of $580.03 and a 52 week high of $875.97. The firm has a market capitalization of $7.15 billion, a price-to-earnings ratio of 17.75 and a beta of 0.56. The company has a fifty day moving average of $722.47 and a two-hundred day moving average of $687.47.

NewMarket (NYSE:NEU) last released its earnings results on Wednesday, April 22nd. The specialty chemicals company reported $12.62 earnings per share (EPS) for the quarter. NewMarket had a net margin of 15.25% and a return on equity of 24.12%. The firm had revenue of $669.72 million during the quarter.

NewMarket Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 15th will be given a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Monday, June 15th. NewMarket’s dividend payout ratio is 27.41%.

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.