Monument Capital Management Purchases Shares of 3,077 NewMarket Corporation $NEU

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

Other institutional investors have also recently made changes to their positions in the company. Farther Finance Advisors LLC raised its stake in NewMarket by 38.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 560 shares of the specialty chemicals company’s stock valued at $464,000 after purchasing an additional 155 shares during the period. Exchange Traded Concepts LLC purchased a new stake in NewMarket during the 3rd quarter valued at approximately $822,000. Brighton Jones LLC bought a new stake in shares of NewMarket during the third quarter valued at approximately $380,000. Aaron Wealth Advisors LLC purchased a new position in shares of NewMarket in the third quarter worth $246,000. Finally, GAMMA Investing LLC lifted its holdings in shares of NewMarket by 7.3% in the third quarter. GAMMA Investing LLC now owns 220 shares of the specialty chemicals company’s stock worth $182,000 after buying an additional 15 shares in 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. The firm has a fifty day moving average price of $758.63 and a 200 day moving average price of $756.98. NewMarket Corporation has a fifty-two week low of $480.00 and a fifty-two week high of $875.97. The firm has a market cap 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 quick ratio of 1.43 and a current ratio of 2.68.

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

NewMarket Increases Dividend

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

Wall Street Analyst Weigh In

NEU has been the topic of a number of research reports. Wall Street Zen downgraded shares of NewMarket from a “buy” rating to a “hold” rating in a report on Saturday, August 30th. Weiss Ratings restated a “buy (b)” rating on shares of NewMarket in a research report on Monday, December 8th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, NewMarket currently 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.