DAVENPORT & Co LLC Sells 3,230 Shares of NewMarket Corporation $NEU

DAVENPORT & Co LLC decreased its position in shares of NewMarket Corporation (NYSE:NEU) by 8.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 36,359 shares of the specialty chemicals company’s stock after selling 3,230 shares during the quarter. DAVENPORT & Co LLC owned approximately 0.39% of NewMarket worth $25,152,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of NEU. SG Americas Securities LLC raised its position in shares of NewMarket by 104.9% during the fourth quarter. SG Americas Securities LLC now owns 4,855 shares of the specialty chemicals company’s stock worth $3,337,000 after acquiring an additional 2,486 shares during the last quarter. Park Avenue Securities LLC boosted its holdings in NewMarket by 5.3% in the fourth quarter. Park Avenue Securities LLC now owns 1,392 shares of the specialty chemicals company’s stock valued at $957,000 after acquiring an additional 70 shares during the last quarter. GAMMA Investing LLC increased its position in NewMarket by 6.8% in the fourth quarter. GAMMA Investing LLC now owns 235 shares of the specialty chemicals company’s stock worth $162,000 after purchasing an additional 15 shares during the period. JPMorgan Chase & Co. increased its position in NewMarket by 2.1% in the third quarter. JPMorgan Chase & Co. now owns 55,073 shares of the specialty chemicals company’s stock worth $45,612,000 after purchasing an additional 1,118 shares during the period. Finally, Allworth Financial LP raised its holdings in NewMarket by 309.7% during the 3rd quarter. Allworth Financial LP now owns 127 shares of the specialty chemicals company’s stock worth $105,000 after purchasing an additional 96 shares during the last quarter. 61.09% of the stock is currently owned by institutional investors.

Insider Transactions at NewMarket

In related news, Director Ting Xu bought 400 shares of the firm’s stock in a transaction dated Tuesday, February 24th. The stock was bought at an average cost of $619.21 per share, for a total transaction of $247,684.00. Following the transaction, the director owned 929 shares of the company’s stock, valued at $575,246.09. This represents a 75.61% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 8.60% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded 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 MarketBeat.com, the company has a consensus rating of “Hold”.

NewMarket Price Performance

NEU opened at $621.80 on Thursday. The company has a fifty day moving average price of $637.55 and a two-hundred day moving average price of $722.53. The firm has a market capitalization of $5.84 billion, a PE ratio of 14.00 and a beta of 0.50. NewMarket Corporation has a 52 week low of $510.07 and a 52 week high of $875.97. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 2.53.

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

NewMarket Announces Dividend

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