NewMarket Corporation $NEU Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. trimmed its stake in shares of NewMarket Corporation (NYSE:NEU) by 4.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 53,955 shares of the specialty chemicals company’s stock after selling 2,294 shares during the period. JPMorgan Chase & Co.’s holdings in NewMarket were worth $37,275,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Impala Asset Management LLC acquired a new stake in NewMarket during the 1st quarter worth about $36,819,000. American Century Companies Inc. increased its position in shares of NewMarket by 120.3% in the first quarter. American Century Companies Inc. now owns 105,120 shares of the specialty chemicals company’s stock worth $59,545,000 after acquiring an additional 57,403 shares in the last quarter. LSV Asset Management raised its holdings in shares of NewMarket by 27.8% during the second quarter. LSV Asset Management now owns 262,148 shares of the specialty chemicals company’s stock valued at $181,108,000 after acquiring an additional 57,101 shares during the period. Brandywine Global Investment Management LLC acquired a new stake in shares of NewMarket during the first quarter valued at approximately $19,348,000. Finally, Geode Capital Management LLC lifted its position in shares of NewMarket by 20.1% in the 2nd quarter. Geode Capital Management LLC now owns 156,613 shares of the specialty chemicals company’s stock valued at $108,212,000 after acquiring an additional 26,254 shares in the last quarter. Institutional investors and hedge funds own 61.09% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of NewMarket in a research note on Monday, November 24th. Wall Street Zen downgraded NewMarket from a “buy” rating to a “hold” rating in a report on Saturday, August 30th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, NewMarket currently has an average rating of “Buy”.

NewMarket Trading Down 0.4%

Shares of NYSE:NEU opened at $760.35 on Tuesday. The firm has a fifty day moving average of $783.03 and a two-hundred day moving average of $746.09. The firm has a market capitalization of $7.15 billion, a P/E ratio of 15.07 and a beta of 0.46. NewMarket Corporation has a 12-month low of $480.00 and a 12-month high of $875.97. The company has a quick ratio of 1.43, a current ratio of 2.66 and a debt-to-equity ratio of 0.52.

NewMarket (NYSE:NEU) last announced its quarterly earnings data 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 during the quarter. NewMarket had a return on equity of 32.25% and a net margin of 17.28%.

NewMarket Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 15th will be issued 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 1.6%. This is a positive change from NewMarket’s previous quarterly dividend of $2.75. NewMarket’s dividend payout ratio is presently 25.35%.

About NewMarket

NewMarket Corporation, through its subsidiaries, primarily engages in the manufacture and sale of petroleum additives. The company offers lubricant additives for use in various vehicle and industrial applications, including engine oils, transmission fluids, off-road powertrain and hydraulic systems, gear oils, hydraulic oils, turbine oils, and other applications where metal-to-metal moving parts are utilized; engine oil additives designed for passenger cars, motorcycles, on and off-road heavy duty commercial equipment, locomotives, and engines in ocean-going vessels; driveline additives designed for products, such as transmission fluids, axle fluids, and off-road powertrain fluids; and industrial additives designed for products for industrial applications consisting of hydraulic fluids, grease, industrial gear fluids, and industrial specialty applications, such as turbine oils.