London Co. of Virginia Reduces Stock Position in NewMarket Corporation $NEU

London Co. of Virginia cut its holdings in NewMarket Corporation (NYSE:NEU) by 6.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 492,820 shares of the specialty chemicals company’s stock after selling 36,512 shares during the quarter. NewMarket makes up approximately 2.0% of London Co. of Virginia’s portfolio, making the stock its 13th largest holding. London Co. of Virginia owned 5.24% of NewMarket worth $338,707,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Vanguard Group Inc. grew its position in shares of NewMarket by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 828,798 shares of the specialty chemicals company’s stock valued at $569,600,000 after purchasing an additional 15,813 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of NewMarket by 1.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 182,335 shares of the specialty chemicals company’s stock valued at $125,321,000 after purchasing an additional 2,633 shares during the last quarter. Geode Capital Management LLC grew its position in shares of NewMarket by 5.4% in the fourth quarter. Geode Capital Management LLC now owns 175,649 shares of the specialty chemicals company’s stock valued at $120,737,000 after purchasing an additional 8,978 shares during the last quarter. AQR Capital Management LLC grew its position in shares of NewMarket by 196.7% in the third quarter. AQR Capital Management LLC now owns 137,943 shares of the specialty chemicals company’s stock valued at $114,246,000 after purchasing an additional 91,458 shares during the last quarter. Finally, American Century Companies Inc. grew its position in shares of NewMarket by 13.3% in the third quarter. American Century Companies Inc. now owns 128,933 shares of the specialty chemicals company’s stock valued at $106,784,000 after purchasing an additional 15,179 shares during the last quarter. 61.09% of the stock is currently owned by institutional investors and hedge funds.

NewMarket Stock Performance

Shares of NEU opened at $790.68 on Wednesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 2.55. The company has a market capitalization of $7.27 billion, a price-to-earnings ratio of 18.06 and a beta of 0.56. The company’s 50 day simple moving average is $714.70 and its 200 day simple moving average is $686.75. NewMarket Corporation has a 1 year low of $580.03 and a 1 year high of $875.97.

NewMarket (NYSE:NEU) last announced its quarterly earnings data on Wednesday, April 22nd. The specialty chemicals company reported $12.62 earnings per share (EPS) for the quarter. The business had revenue of $669.72 million for the quarter. NewMarket had a net margin of 15.25% and a return on equity of 24.12%.

NewMarket Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 15th will be paid a dividend of $3.00 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $12.00 annualized dividend and a dividend yield of 1.5%. NewMarket’s dividend payout ratio is presently 27.41%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded shares of NewMarket from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of “Buy”.

About NewMarket

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.