Vanguard Group Inc. Increases Holdings in NewMarket Corporation $NEU

Vanguard Group Inc. increased its holdings in shares of NewMarket Corporation (NYSE:NEU) by 1.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 828,798 shares of the specialty chemicals company’s stock after purchasing an additional 15,813 shares during the period. Vanguard Group Inc. owned 0.09% of NewMarket worth $569,600,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. LSV Asset Management boosted its position in NewMarket by 2.4% during the 3rd quarter. LSV Asset Management now owns 268,432 shares of the specialty chemicals company’s stock worth $222,318,000 after purchasing an additional 6,284 shares during the period. Dimensional Fund Advisors LP boosted its position in NewMarket by 1.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 179,702 shares of the specialty chemicals company’s stock worth $148,820,000 after purchasing an additional 2,049 shares during the period. AQR Capital Management LLC boosted its position in NewMarket by 196.7% during the 3rd quarter. AQR Capital Management LLC now owns 137,943 shares of the specialty chemicals company’s stock worth $114,246,000 after purchasing an additional 91,458 shares during the period. American Century Companies Inc. boosted its position in NewMarket by 13.3% during the 3rd quarter. American Century Companies Inc. now owns 128,933 shares of the specialty chemicals company’s stock worth $106,784,000 after purchasing an additional 15,179 shares during the period. Finally, Caisse de depot et placement du Quebec boosted its position in NewMarket by 376.4% during the 3rd quarter. Caisse de depot et placement du Quebec now owns 99,256 shares of the specialty chemicals company’s stock worth $82,205,000 after purchasing an additional 78,422 shares during the period. 61.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings cut shares of NewMarket from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, March 20th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company has an average rating of “Hold”.

NewMarket Stock Performance

NYSE:NEU opened at $678.30 on Tuesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.55 and a quick ratio of 1.37. The firm has a 50-day moving average of $634.22 and a two-hundred day moving average of $689.56. The stock has a market cap of $6.24 billion, a P/E ratio of 15.49 and a beta of 0.52. NewMarket Corporation has a 1-year low of $580.03 and a 1-year high of $875.97.

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

NewMarket Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders 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 1.8%. The ex-dividend date of this dividend is Monday, June 15th. NewMarket’s dividend payout ratio is presently 27.41%.

Insider Activity

In related news, Director Ting Xu bought 400 shares of the business’s stock in a transaction dated Tuesday, February 24th. The shares were acquired at an average price of $619.21 per share, for a total transaction of $247,684.00. Following the purchase, the director owned 929 shares in the company, valued at $575,246.09. This trade represents a 75.61% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 8.60% of the company’s stock.

NewMarket Profile

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.