Geode Capital Management LLC Purchases 8,978 Shares of NewMarket Corporation $NEU

Geode Capital Management LLC grew its position in shares of NewMarket Corporation (NYSE:NEU) by 5.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 175,649 shares of the specialty chemicals company’s stock after buying an additional 8,978 shares during the period. Geode Capital Management LLC owned approximately 1.87% of NewMarket worth $120,737,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Ameriflex Group Inc. bought a new position in shares of NewMarket in the third quarter worth $27,000. International Assets Investment Management LLC bought a new position in shares of NewMarket in the fourth quarter worth $27,000. Smartleaf Asset Management LLC increased its position in shares of NewMarket by 125.0% in the third quarter. Smartleaf Asset Management LLC now owns 45 shares of the specialty chemicals company’s stock worth $37,000 after purchasing an additional 25 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of NewMarket by 100.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78 shares of the specialty chemicals company’s stock worth $44,000 after purchasing an additional 39 shares during the period. Finally, Quarry LP bought a new position in shares of NewMarket in the third quarter worth $52,000. Institutional investors own 61.09% of the company’s stock.

NewMarket Stock Performance

Shares of NEU stock opened at $789.09 on Friday. The business’s 50-day moving average price is $688.73 and its 200-day moving average price is $683.94. NewMarket Corporation has a 12 month low of $580.03 and a 12 month high of $875.97. The firm has a market capitalization of $7.26 billion, a price-to-earnings ratio of 18.02 and a beta of 0.56. The company has a current ratio of 2.55, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54.

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

NewMarket Dividend Announcement

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

Wall Street Analysts Forecast Growth

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

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.