JPMorgan Chase & Co. Raises Stock Position in NewMarket Corporation $NEU

JPMorgan Chase & Co. increased its stake in shares of NewMarket Corporation (NYSE:NEU) by 2.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,073 shares of the specialty chemicals company’s stock after acquiring an additional 1,118 shares during the quarter. JPMorgan Chase & Co. owned about 0.59% of NewMarket worth $45,612,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. Winnow Wealth LLC acquired a new stake in shares of NewMarket during the third quarter worth about $29,000. Root Financial Partners LLC acquired a new position in NewMarket during the third quarter worth approximately $30,000. Smartleaf Asset Management LLC lifted its stake in NewMarket by 125.0% in the third quarter. Smartleaf Asset Management LLC now owns 45 shares of the specialty chemicals company’s stock valued at $37,000 after buying an additional 25 shares during the last quarter. Quent Capital LLC acquired a new stake in shares of NewMarket in the third quarter valued at approximately $43,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of NewMarket by 100.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78 shares of the specialty chemicals company’s stock worth $44,000 after acquiring an additional 39 shares during the last quarter. Institutional investors and hedge funds own 61.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut shares of NewMarket from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, February 13th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, NewMarket currently has a consensus rating of “Hold”.

NewMarket Stock Performance

Shares of NEU stock opened at $628.15 on Friday. The company has a current ratio of 2.53, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. The stock has a 50 day simple moving average of $671.50 and a 200-day simple moving average of $746.67. The company has a market cap of $5.90 billion, a price-to-earnings ratio of 14.14 and a beta of 0.48. NewMarket Corporation has a 12-month low of $510.07 and a 12-month high of $875.97.

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

NewMarket Announces Dividend

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

Insider Activity

In other NewMarket news, Director Ting Xu acquired 400 shares of the firm’s stock in a transaction that occurred on Tuesday, February 24th. The shares were acquired 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 of the company’s stock, valued at approximately $575,246.09. This represents a 75.61% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 19.10% of the stock is owned by company insiders.

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.