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

DAVENPORT & Co LLC cut its position in NewMarket Corporation (NYSE:NEU) by 8.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 36,359 shares of the specialty chemicals company’s stock after selling 3,230 shares during the period. DAVENPORT & Co LLC’s holdings in NewMarket were worth $25,152,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. LSV Asset Management increased its position 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 buying an additional 6,284 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in 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 in the last quarter. AQR Capital Management LLC grew its stake in 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 acquiring an additional 91,458 shares during the period. American Century Companies Inc. grew its stake in 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 acquiring an additional 15,179 shares during the period. Finally, Caisse de depot et placement du Quebec increased its holdings in shares of NewMarket by 376.4% in the third quarter. Caisse de depot et placement du Quebec now owns 99,256 shares of the specialty chemicals company’s stock worth $82,205,000 after acquiring an additional 78,422 shares in the last quarter. 61.09% of the stock is owned by institutional investors.

Insider Activity at NewMarket

In other news, Director Ting Xu purchased 400 shares of the business’s stock in a transaction dated Tuesday, February 24th. The shares were bought at an average cost of $619.21 per share, for a total transaction of $247,684.00. Following the completion of the acquisition, the director directly owned 929 shares in the company, valued at approximately $575,246.09. This trade represents a 75.61% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Separately, Weiss Ratings lowered NewMarket from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, March 20th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has a consensus rating of “Hold”.

NewMarket Stock Up 0.2%

NewMarket stock opened at $621.80 on Thursday. The company has a 50 day moving average of $637.55 and a 200-day moving average of $722.53. The company has a quick ratio of 1.33, a current ratio of 2.53 and a debt-to-equity ratio of 0.50. NewMarket Corporation has a twelve month low of $510.07 and a twelve month high of $875.97. The stock has a market capitalization of $5.84 billion, a PE ratio of 14.00 and a beta of 0.50.

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

NewMarket Dividend Announcement

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

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.