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

JPMorgan Chase & Co. boosted its holdings in NewMarket Corporation (NYSE:NEU) by 2.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. 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 0.59% of NewMarket worth $45,612,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in NEU. Ameriflex Group Inc. purchased a new position in shares of NewMarket in the third quarter worth $27,000. Winnow Wealth LLC purchased a new stake in shares of NewMarket during the third quarter valued at $29,000. Root Financial Partners LLC purchased a new stake in shares of NewMarket during the third quarter valued at $30,000. Smartleaf Asset Management LLC increased its holdings in NewMarket by 125.0% in the 3rd quarter. Smartleaf Asset Management LLC now owns 45 shares of the specialty chemicals company’s stock worth $37,000 after buying an additional 25 shares in the last quarter. Finally, Quent Capital LLC bought a new stake in NewMarket in the 3rd quarter worth about $43,000. 61.09% of the stock is currently owned by hedge funds and other institutional investors.

NewMarket Stock Performance

Shares of NYSE NEU opened at $614.48 on Friday. NewMarket Corporation has a 12-month low of $510.07 and a 12-month high of $875.97. The firm has a market capitalization of $5.78 billion, a price-to-earnings ratio of 13.83 and a beta of 0.50. 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 firm has a 50 day moving average of $643.13 and a 200 day moving average of $727.30.

NewMarket (NYSE:NEU) last released its quarterly earnings results on Wednesday, February 11th. The specialty chemicals company reported $8.65 earnings per share 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 Announces Dividend

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

Insider Buying and Selling

In related news, Director Ting Xu bought 400 shares of the stock in a transaction that occurred on 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 transaction, the director owned 929 shares of the company’s stock, valued at approximately $575,246.09. This trade represents a 75.61% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 19.10% of the company’s stock.

Wall Street Analysts Forecast Growth

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 research analyst has rated the stock with a Buy rating, According to MarketBeat.com, 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.