NewMarket Corporation $NEU Shares Acquired by HB Wealth Management LLC

HB Wealth Management LLC lifted its position in shares of NewMarket Corporation (NYSE:NEU) by 643.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 29,948 shares of the specialty chemicals company’s stock after buying an additional 25,919 shares during the quarter. HB Wealth Management LLC owned approximately 0.32% of NewMarket worth $24,803,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in NEU. LSV Asset Management grew its holdings in NewMarket by 27.8% in the second quarter. LSV Asset Management now owns 262,148 shares of the specialty chemicals company’s stock valued at $181,108,000 after purchasing an additional 57,101 shares during the period. Geode Capital Management LLC lifted its holdings in 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 buying an additional 26,254 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of NewMarket by 8.2% in the second 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 in 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 valued at $64,171,000 after buying an additional 2,727 shares during the last quarter. Finally, Norges Bank bought a new position in NewMarket during the 2nd quarter valued at $51,515,000. Hedge funds and other institutional investors own 61.09% of the company’s stock.

NewMarket Price Performance

Shares of NEU opened at $697.47 on Thursday. NewMarket Corporation has a one year low of $480.00 and a one year high of $875.97. The firm has a market capitalization of $6.56 billion, a price-to-earnings ratio of 14.74 and a beta of 0.49. The stock’s fifty day moving average is $743.96 and its 200-day moving average is $760.65. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.43 and a current ratio of 2.68.

NewMarket (NYSE:NEU) last issued its quarterly earnings results on Thursday, October 30th. The specialty chemicals company reported $10.67 earnings per share 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 firm also recently declared a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Monday, December 15th were issued a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Monday, December 15th. This is a positive change from NewMarket’s previous quarterly dividend of $2.75. NewMarket’s dividend payout ratio is currently 25.35%.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “buy (b-)” rating on shares of NewMarket in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average 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.