Burney Co. Has $2.49 Million Stock Holdings in NewMarket Corporation $NEU

Burney Co. trimmed its stake in shares of NewMarket Corporation (NYSE:NEU) by 23.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,002 shares of the specialty chemicals company’s stock after selling 917 shares during the quarter. Burney Co.’s holdings in NewMarket were worth $2,486,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of NEU. Parallel Advisors LLC boosted its stake in NewMarket by 2.1% in the 2nd quarter. Parallel Advisors LLC now owns 740 shares of the specialty chemicals company’s stock valued at $511,000 after buying an additional 15 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of NewMarket by 7.3% in the 3rd quarter. GAMMA Investing LLC now owns 220 shares of the specialty chemicals company’s stock worth $182,000 after purchasing an additional 15 shares during the last quarter. MAI Capital Management increased its position in shares of NewMarket by 20.8% during the 2nd quarter. MAI Capital Management now owns 122 shares of the specialty chemicals company’s stock worth $84,000 after purchasing an additional 21 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in NewMarket by 13.1% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 198 shares of the specialty chemicals company’s stock valued at $112,000 after purchasing an additional 23 shares during the last quarter. Finally, Ritholtz Wealth Management grew its stake in NewMarket by 2.4% during the second quarter. Ritholtz Wealth Management now owns 1,110 shares of the specialty chemicals company’s stock worth $767,000 after buying an additional 26 shares during the last quarter. 61.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NEU has been the topic of several recent analyst reports. Weiss Ratings reissued a “buy (b-)” rating on shares of NewMarket in a report on Monday, December 22nd. Wall Street Zen lowered NewMarket from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy”.

NewMarket Stock Down 0.4%

Shares of NEU opened at $709.27 on Friday. The business’s fifty day moving average price is $752.95 and its two-hundred day moving average price is $757.92. The firm has a market capitalization of $6.67 billion, a price-to-earnings ratio of 14.99 and a beta of 0.49. NewMarket Corporation has a 52 week low of $480.00 and a 52 week high of $875.97. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.43 and a current ratio of 2.68.

NewMarket (NYSE:NEU) last issued its quarterly earnings results on Thursday, October 30th. The specialty chemicals company reported $10.67 earnings per share (EPS) for the quarter. The business had revenue of $690.31 million for the quarter. NewMarket had a return on equity of 28.53% and a net margin of 16.33%.

NewMarket Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 15th will be given a dividend of $3.00 per share. The ex-dividend date is Monday, December 15th. This represents a $12.00 annualized dividend and a dividend yield of 1.7%. This is a positive change from NewMarket’s previous quarterly dividend of $2.75. NewMarket’s dividend payout ratio is presently 25.35%.

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.