JPMorgan Chase & Co. Purchases 1,118 Shares of NewMarket Corporation $NEU

JPMorgan Chase & Co. raised its position in shares of NewMarket Corporation (NYSE:NEU) by 2.1% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 55,073 shares of the specialty chemicals company’s stock after buying an additional 1,118 shares during the period. JPMorgan Chase & Co.’s holdings in NewMarket were worth $45,612,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Winnow Wealth LLC purchased a new stake in shares of NewMarket during the third quarter worth about $29,000. Root Financial Partners LLC bought a new position in NewMarket during the 3rd quarter valued at approximately $30,000. Smartleaf Asset Management LLC raised its position in NewMarket by 125.0% during the 3rd quarter. Smartleaf Asset Management LLC now owns 45 shares of the specialty chemicals company’s stock valued at $37,000 after purchasing an additional 25 shares during the last quarter. Quent Capital LLC purchased a new stake in NewMarket in the 3rd quarter worth approximately $43,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of NewMarket by 100.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78 shares of the specialty chemicals company’s stock worth $44,000 after buying an additional 39 shares during the last quarter. Hedge funds and other institutional investors own 61.09% of the company’s stock.

Insider Activity

In other NewMarket news, Director Ting Xu purchased 400 shares of the stock in a transaction that occurred on Tuesday, February 24th. The stock was bought at an average cost of $619.21 per share, with a total value of $247,684.00. Following the transaction, the director directly owned 929 shares in the company, valued at approximately $575,246.09. The trade was a 75.61% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 19.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded NewMarket from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, February 13th. One analyst has rated the stock with a Hold rating, According to MarketBeat, NewMarket currently has a consensus rating of “Hold”.

NewMarket Stock Up 1.9%

Shares of NYSE:NEU opened at $628.15 on Friday. The firm has a market capitalization of $5.90 billion, a P/E ratio of 14.14 and a beta of 0.48. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 2.53. The stock has a 50 day moving average price of $671.50 and a 200-day moving average price of $746.67. NewMarket Corporation has a 52-week low of $510.07 and a 52-week high of $875.97.

NewMarket (NYSE:NEU) last released its quarterly earnings results on Wednesday, February 11th. The specialty chemicals company reported $8.65 earnings per share for the quarter. The company had revenue of $635.40 million for the quarter. NewMarket had a return on equity of 25.38% and a net margin of 15.37%.

NewMarket Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 16th will be given a $3.00 dividend. The ex-dividend date of this dividend is Monday, March 16th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 1.9%. NewMarket’s dividend payout ratio is currently 27.01%.

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.