London Co. of Virginia Trims Position in NewMarket Corporation $NEU

London Co. of Virginia decreased its position in shares of NewMarket Corporation (NYSE:NEU) by 6.9% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 492,820 shares of the specialty chemicals company’s stock after selling 36,512 shares during the period. NewMarket accounts for approximately 2.0% of London Co. of Virginia’s portfolio, making the stock its 13th largest holding. London Co. of Virginia owned approximately 0.05% of NewMarket worth $338,707,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of NEU. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in NewMarket by 100.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78 shares of the specialty chemicals company’s stock worth $44,000 after purchasing an additional 39 shares during the period. NewEdge Advisors LLC raised its stake in NewMarket by 1,442.4% during the first quarter. NewEdge Advisors LLC now owns 509 shares of the specialty chemicals company’s stock worth $288,000 after purchasing an additional 476 shares during the period. United Services Automobile Association purchased a new position in NewMarket during the first quarter worth approximately $266,000. Empowered Funds LLC raised its stake in NewMarket by 4.8% during the first quarter. Empowered Funds LLC now owns 1,562 shares of the specialty chemicals company’s stock worth $885,000 after purchasing an additional 72 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in NewMarket by 9.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 22,268 shares of the specialty chemicals company’s stock worth $12,614,000 after purchasing an additional 1,995 shares during the period. Hedge funds and other institutional investors own 61.09% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings raised shares of NewMarket from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, NewMarket currently has a consensus rating of “Buy”.

NewMarket Stock Performance

NYSE:NEU opened at $790.68 on Wednesday. The company has a quick ratio of 1.37, a current ratio of 2.55 and a debt-to-equity ratio of 0.54. The company has a market cap of $7.27 billion, a P/E ratio of 18.06 and a beta of 0.56. NewMarket Corporation has a fifty-two week low of $580.03 and a fifty-two week high of $875.97. The firm’s 50 day moving average is $714.70 and its two-hundred day moving average is $686.75.

NewMarket (NYSE:NEU) last released its quarterly earnings data 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 company had revenue of $669.72 million during the quarter.

NewMarket Announces Dividend

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

NewMarket Company 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.