Aster Capital Management DIFC Ltd Acquires New Holdings in NewMarket Co. (NYSE:NEU)

Aster Capital Management DIFC Ltd bought a new position in shares of NewMarket Co. (NYSE:NEU) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 916 shares of the specialty chemicals company’s stock, valued at approximately $484,000.

Several other hedge funds and other institutional investors have also bought and sold shares of NEU. Norges Bank bought a new position in shares of NewMarket in the 4th quarter worth $41,268,000. American Century Companies Inc. lifted its position in shares of NewMarket by 147.2% during the fourth quarter. American Century Companies Inc. now owns 47,717 shares of the specialty chemicals company’s stock valued at $25,211,000 after buying an additional 28,417 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in shares of NewMarket in the 4th quarter worth approximately $8,933,000. Bank of New York Mellon Corp raised its stake in shares of NewMarket by 20.6% during the 4th quarter. Bank of New York Mellon Corp now owns 91,875 shares of the specialty chemicals company’s stock worth $48,542,000 after acquiring an additional 15,694 shares in the last quarter. Finally, DAVENPORT & Co LLC lifted its position in NewMarket by 29.2% during the fourth quarter. DAVENPORT & Co LLC now owns 66,879 shares of the specialty chemicals company’s stock valued at $35,545,000 after acquiring an additional 15,129 shares during the last quarter. Institutional investors own 61.09% of the company’s stock.

NewMarket Trading Down 2.4 %

Shares of NYSE:NEU opened at $544.42 on Monday. The business’s 50-day moving average is $538.89 and its 200 day moving average is $532.97. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.75 and a quick ratio of 1.40. NewMarket Co. has a 1 year low of $480.00 and a 1 year high of $624.91. The firm has a market capitalization of $5.16 billion, a P/E ratio of 11.29 and a beta of 0.41.

NewMarket (NYSE:NEU) last posted its quarterly earnings data on Monday, February 3rd. The specialty chemicals company reported $11.56 earnings per share (EPS) for the quarter. NewMarket had a net margin of 16.59% and a return on equity of 35.48%.

NewMarket Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th were paid a dividend of $2.75 per share. This is an increase from NewMarket’s previous quarterly dividend of $2.50. This represents a $11.00 annualized dividend and a dividend yield of 2.02%. The ex-dividend date was Monday, March 17th. NewMarket’s payout ratio is presently 22.82%.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of NewMarket from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 19th.

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.