Geode Capital Management LLC Purchases 8,978 Shares of NewMarket Corporation $NEU

Geode Capital Management LLC grew its position in shares of NewMarket Corporation (NYSE:NEU) by 5.4% in the 4th quarter, HoldingsChannel reports. The fund owned 175,649 shares of the specialty chemicals company’s stock after buying an additional 8,978 shares during the period. Geode Capital Management LLC’s holdings in NewMarket were worth $120,737,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Ameriflex Group Inc. bought a new stake in shares of NewMarket during the third quarter valued at approximately $27,000. International Assets Investment Management LLC bought a new stake in shares of NewMarket during the fourth quarter valued at approximately $27,000. Smartleaf Asset Management LLC increased its holdings in shares of NewMarket by 125.0% during the third quarter. Smartleaf Asset Management LLC now owns 45 shares of the specialty chemicals company’s stock valued at $37,000 after acquiring an additional 25 shares in the last quarter. Quarry LP bought a new stake in shares of NewMarket during the third quarter valued at approximately $52,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings 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 valued at $44,000 after acquiring an additional 39 shares in the last quarter. Institutional investors own 61.09% of the company’s stock.

NewMarket Stock Down 0.7%

NEU stock opened at $789.09 on Friday. The stock’s fifty day simple moving average is $688.73 and its two-hundred day simple moving average is $683.94. The company has a current ratio of 2.55, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. NewMarket Corporation has a 1-year low of $580.03 and a 1-year high of $875.97. The stock has a market cap of $7.26 billion, a P/E ratio of 18.02 and a beta of 0.56.

NewMarket (NYSE:NEU) last posted its quarterly earnings data on Wednesday, April 22nd. The specialty chemicals company reported $12.62 earnings per share for the quarter. NewMarket had a return on equity of 24.12% and a net margin of 15.25%.The business had revenue of $669.72 million for the quarter.

NewMarket Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th will be given a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Monday, June 15th. NewMarket’s dividend payout ratio is currently 27.41%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut shares of NewMarket from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, March 20th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Hold”.

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.