NewMarket Co. (NYSE:NEU) Shares Sold by London Co. of Virginia

London Co. of Virginia decreased its position in shares of NewMarket Co. (NYSE:NEU) by 1.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 586,459 shares of the specialty chemicals company’s stock after selling 6,896 shares during the quarter. NewMarket accounts for about 1.7% of London Co. of Virginia’s holdings, making the stock its 16th biggest position. London Co. of Virginia owned about 6.11% of NewMarket worth $309,856,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Barclays PLC raised its holdings in NewMarket by 34.5% during the third quarter. Barclays PLC now owns 4,813 shares of the specialty chemicals company’s stock worth $2,656,000 after purchasing an additional 1,235 shares during the last quarter. Franklin Resources Inc. raised its holdings in NewMarket by 35.3% during the third quarter. Franklin Resources Inc. now owns 4,839 shares of the specialty chemicals company’s stock worth $2,550,000 after purchasing an additional 1,263 shares during the last quarter. ORG Partners LLC acquired a new position in NewMarket during the fourth quarter worth $159,000. Eagle Bay Advisors LLC acquired a new position in NewMarket during the fourth quarter worth $40,000. Finally, Park Avenue Securities LLC raised its holdings in NewMarket by 15.6% during the fourth quarter. Park Avenue Securities LLC now owns 1,269 shares of the specialty chemicals company’s stock worth $670,000 after purchasing an additional 171 shares during the last quarter. 61.09% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

NewMarket Stock Performance

NYSE NEU opened at $633.08 on Monday. NewMarket Co. has a fifty-two week low of $480.00 and a fifty-two week high of $638.01. The stock has a market cap of $5.97 billion, a price-to-earnings ratio of 13.13 and a beta of 0.41. The business has a fifty day moving average of $565.57 and a 200-day moving average of $541.91. The company has a quick ratio of 1.40, a current ratio of 2.75 and a debt-to-equity ratio of 0.66.

NewMarket (NYSE:NEU) last released its quarterly earnings results on Wednesday, April 23rd. The specialty chemicals company reported $13.26 earnings per share for the quarter. NewMarket had a return on equity of 35.48% and a net margin of 16.59%. The company had revenue of $700.95 million during the quarter.

NewMarket Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 16th will be issued a $2.75 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $11.00 dividend on an annualized basis and a dividend yield of 1.74%. NewMarket’s dividend payout ratio (DPR) is 21.89%.

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.