Dimensional Fund Advisors LP Increases Holdings in NewMarket Corporation $NEU

Dimensional Fund Advisors LP increased its stake in NewMarket Corporation (NYSE:NEU) by 1.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 179,702 shares of the specialty chemicals company’s stock after purchasing an additional 2,049 shares during the period. Dimensional Fund Advisors LP owned approximately 1.91% of NewMarket worth $148,820,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. LSV Asset Management lifted its stake in shares of NewMarket by 2.4% in the 3rd quarter. LSV Asset Management now owns 268,432 shares of the specialty chemicals company’s stock valued at $222,318,000 after acquiring an additional 6,284 shares during the last quarter. Geode Capital Management LLC lifted its holdings in NewMarket by 20.1% in the 2nd quarter. Geode Capital Management LLC now owns 156,613 shares of the specialty chemicals company’s stock worth $108,212,000 after buying an additional 26,254 shares during the period. American Century Companies Inc. grew its position in shares of NewMarket by 13.3% in the 3rd quarter. American Century Companies Inc. now owns 128,933 shares of the specialty chemicals company’s stock worth $106,784,000 after buying an additional 15,179 shares during the last quarter. Norges Bank bought a new stake in shares of NewMarket in the 2nd quarter worth approximately $51,515,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of NewMarket by 2.1% during the third quarter. JPMorgan Chase & Co. now owns 55,073 shares of the specialty chemicals company’s stock valued at $45,612,000 after acquiring an additional 1,118 shares in the last quarter. Institutional investors own 61.09% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded shares of NewMarket from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 2nd. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy”.

NewMarket Stock Performance

Shares of NewMarket stock opened at $622.18 on Wednesday. The business has a fifty day simple moving average of $658.75 and a two-hundred day simple moving average of $738.09. The firm has a market capitalization of $5.85 billion, a P/E ratio of 14.01 and a beta of 0.50. The company has a current ratio of 2.53, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. NewMarket Corporation has a 12 month low of $510.07 and a 12 month high of $875.97.

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

NewMarket Dividend Announcement

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

Insider Activity

In related news, Director Ting Xu purchased 400 shares of the stock in a transaction dated Tuesday, February 24th. The stock was purchased at an average price 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 $575,246.09. This trade represents a 75.61% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 19.10% of the stock is currently owned by corporate insiders.

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.