Monument Capital Management Invests $2.55 Million in NewMarket Corporation $NEU

Monument Capital Management bought a new stake in shares of NewMarket Corporation (NYSE:NEU) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 3,077 shares of the specialty chemicals company’s stock, valued at approximately $2,548,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. LSV Asset Management boosted its stake in NewMarket by 27.8% during the second quarter. LSV Asset Management now owns 262,148 shares of the specialty chemicals company’s stock worth $181,108,000 after buying an additional 57,101 shares during the period. Geode Capital Management LLC lifted its holdings in shares of NewMarket by 20.1% in the 2nd quarter. Geode Capital Management LLC now owns 156,613 shares of the specialty chemicals company’s stock worth $108,212,000 after acquiring an additional 26,254 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of NewMarket by 8.2% in the 2nd quarter. American Century Companies Inc. now owns 113,754 shares of the specialty chemicals company’s stock worth $78,588,000 after acquiring an additional 8,634 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of NewMarket by 3.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 92,886 shares of the specialty chemicals company’s stock worth $64,171,000 after purchasing an additional 2,727 shares during the period. Finally, Northern Trust Corp grew its holdings in NewMarket by 3.8% during the 1st quarter. Northern Trust Corp now owns 83,207 shares of the specialty chemicals company’s stock valued at $47,133,000 after purchasing an additional 3,051 shares during the last quarter. Hedge funds and other institutional investors own 61.09% of the company’s stock.

NewMarket Trading Down 2.3%

NEU stock opened at $712.34 on Tuesday. NewMarket Corporation has a 12 month low of $480.00 and a 12 month high of $875.97. The firm’s 50-day moving average is $758.63 and its 200 day moving average is $756.98. The company has a market capitalization of $6.70 billion, a PE ratio of 15.05 and a beta of 0.49. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.68 and a quick ratio of 1.43.

NewMarket (NYSE:NEU) last released its quarterly earnings data on Thursday, October 30th. The specialty chemicals company reported $10.67 earnings per share (EPS) for the quarter. The company had revenue of $690.31 million during the quarter. NewMarket had a net margin of 16.33% and a return on equity of 28.53%.

NewMarket Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 15th will be paid a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 1.7%. This is an increase from NewMarket’s previous quarterly dividend of $2.75. The ex-dividend date of this dividend is Monday, December 15th. NewMarket’s payout ratio is currently 25.35%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on NEU. Wall Street Zen downgraded shares of NewMarket from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of NewMarket in a research note on Monday, December 8th. One analyst has rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of “Buy”.

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.