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

JPMorgan Chase & Co. lifted its stake in shares of NewMarket Corporation (NYSE:NEU) by 2.1% in the third quarter, HoldingsChannel reports. The fund owned 55,073 shares of the specialty chemicals company’s stock after acquiring an additional 1,118 shares during the period. JPMorgan Chase & Co.’s holdings in NewMarket were worth $45,612,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AQR Capital Management LLC lifted its holdings in NewMarket by 196.7% during 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 in the last quarter. Caisse de depot et placement du Quebec increased its stake 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 purchasing an additional 78,422 shares in the last quarter. Norges Bank purchased a new stake in shares of NewMarket in the second quarter worth $51,515,000. Invesco Ltd. raised its position in shares of NewMarket by 112.4% during the 3rd quarter. Invesco Ltd. now owns 67,633 shares of the specialty chemicals company’s stock valued at $56,014,000 after purchasing an additional 35,789 shares during the period. Finally, Orion Porfolio Solutions LLC raised its position in shares of NewMarket by 748.6% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 30,523 shares of the specialty chemicals company’s stock valued at $21,087,000 after purchasing an additional 26,926 shares during the period. Institutional investors own 61.09% of the company’s stock.

NewMarket Stock Up 1.2%

Shares of NEU opened at $614.48 on Friday. The stock has a market capitalization of $5.78 billion, a price-to-earnings ratio of 13.83 and a beta of 0.50. NewMarket Corporation has a 1 year low of $510.07 and a 1 year high of $875.97. The business’s 50 day simple moving average is $643.13 and its 200-day simple moving average is $727.30. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.53 and a quick ratio of 1.33.

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

NewMarket Dividend Announcement

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

Insider Activity at NewMarket

In other NewMarket news, Director Ting Xu acquired 400 shares of the company’s stock in a transaction on Tuesday, February 24th. The stock was acquired at an average cost of $619.21 per share, with a total value of $247,684.00. Following the purchase, 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 position. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 19.10% of the stock is owned by insiders.

Analysts Set New Price Targets

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

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.