NewMarket Corporation $NEU Shares Sold by Bank of America Corp DE

Bank of America Corp DE lessened its position in shares of NewMarket Corporation (NYSE:NEU) by 1.8% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 997,112 shares of the specialty chemicals company’s stock after selling 18,717 shares during the quarter. Bank of America Corp DE owned about 0.11% of NewMarket worth $825,818,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. LSV Asset Management lifted its stake in NewMarket by 2.4% in the third quarter. LSV Asset Management now owns 268,432 shares of the specialty chemicals company’s stock valued at $222,318,000 after buying an additional 6,284 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of NewMarket by 1.2% during the third quarter. Dimensional Fund Advisors LP now owns 179,702 shares of the specialty chemicals company’s stock worth $148,820,000 after acquiring an additional 2,049 shares during the last quarter. Geode Capital Management LLC increased its holdings 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 during the period. AQR Capital Management LLC increased its holdings in shares of NewMarket by 196.7% in the 3rd quarter. AQR Capital Management LLC now owns 137,943 shares of the specialty chemicals company’s stock valued at $114,246,000 after acquiring an additional 91,458 shares during the period. Finally, American Century Companies Inc. raised its position in NewMarket by 13.3% in the 3rd 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. Institutional investors and hedge funds own 61.09% of the company’s stock.

Analysts Set New Price Targets

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

NewMarket Stock Up 3.6%

NEU opened at $605.48 on Tuesday. The business has a 50 day moving average price of $651.00 and a two-hundred day moving average price of $731.89. The company has a quick ratio of 1.33, a current ratio of 2.53 and a debt-to-equity ratio of 0.50. The company has a market cap of $5.69 billion, a PE ratio of 13.63 and a beta of 0.50. NewMarket Corporation has a 52 week low of $510.07 and a 52 week high of $875.97.

NewMarket (NYSE:NEU) last posted its quarterly earnings data 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 during the quarter.

NewMarket Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 16th will be issued a dividend of $3.00 per share. The ex-dividend date of this dividend is Monday, March 16th. This represents a $12.00 annualized dividend and a dividend yield of 2.0%. NewMarket’s dividend payout ratio (DPR) is currently 27.01%.

Insider Buying and Selling at NewMarket

In other news, Director Ting Xu acquired 400 shares of the stock in a transaction that occurred on Tuesday, February 24th. The shares were purchased at an average cost of $619.21 per share, for a total transaction of $247,684.00. Following the transaction, the director directly owned 929 shares in the company, valued at approximately $575,246.09. This represents a 75.61% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 19.10% of the stock is currently owned by corporate insiders.

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.