Gallacher Capital Management LLC Purchases Shares of 382 NewMarket Co. (NYSE:NEU)

Gallacher Capital Management LLC purchased a new stake in shares of NewMarket Co. (NYSE:NEU) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 382 shares of the specialty chemicals company’s stock, valued at approximately $243,000.

A number of other hedge funds have also bought and sold shares of the stock. UMB Bank n.a. increased its stake in shares of NewMarket by 64.5% in the first quarter. UMB Bank n.a. now owns 51 shares of the specialty chemicals company’s stock worth $32,000 after acquiring an additional 20 shares during the period. Janiczek Wealth Management LLC increased its stake in shares of NewMarket by 1,300.0% in the first quarter. Janiczek Wealth Management LLC now owns 56 shares of the specialty chemicals company’s stock worth $36,000 after acquiring an additional 52 shares during the period. FSC Wealth Advisors LLC acquired a new stake in shares of NewMarket in the fourth quarter worth $39,000. Lindbrook Capital LLC increased its stake in shares of NewMarket by 35.6% in the fourth quarter. Lindbrook Capital LLC now owns 80 shares of the specialty chemicals company’s stock worth $44,000 after acquiring an additional 21 shares during the period. Finally, GAMMA Investing LLC acquired a new stake in shares of NewMarket in the fourth quarter worth $50,000. Institutional investors and hedge funds own 61.09% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of NewMarket from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 4th.

NewMarket Stock Performance

NEU stock traded up $3.74 during midday trading on Friday, hitting $532.49. 2,892 shares of the stock traded hands, compared to its average volume of 40,916. The company has a debt-to-equity ratio of 1.11, a current ratio of 2.86 and a quick ratio of 1.60. The firm has a market cap of $5.11 billion, a P/E ratio of 12.72 and a beta of 0.47. NewMarket Co. has a 1-year low of $427.53 and a 1-year high of $650.00. The stock’s fifty day simple moving average is $534.55 and its 200-day simple moving average is $572.27.

NewMarket (NYSE:NEU) last posted its quarterly earnings data on Wednesday, April 24th. The specialty chemicals company reported $11.23 earnings per share (EPS) for the quarter. The business had revenue of $696.74 million for the quarter. NewMarket had a net margin of 14.82% and a return on equity of 38.99%.

NewMarket Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 14th were given a dividend of $2.50 per share. This represents a $10.00 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend was Friday, June 14th. NewMarket’s dividend payout ratio is presently 24.06%.

About NewMarket

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.