Grantham Mayo Van Otterloo & Co. LLC Buys 1,786 Shares of NewMarket Corporation $NEU

Grantham Mayo Van Otterloo & Co. LLC increased its position in NewMarket Corporation (NYSE:NEU) by 120.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,264 shares of the specialty chemicals company’s stock after purchasing an additional 1,786 shares during the period. Grantham Mayo Van Otterloo & Co. LLC’s holdings in NewMarket were worth $2,703,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of NEU. Envestnet Asset Management Inc. lifted its stake in NewMarket by 3.1% during the 3rd quarter. Envestnet Asset Management Inc. now owns 39,452 shares of the specialty chemicals company’s stock valued at $32,675,000 after acquiring an additional 1,192 shares during the period. Monument Capital Management bought a new stake in shares of NewMarket in the third quarter worth approximately $2,548,000. Nisa Investment Advisors LLC raised its holdings in shares of NewMarket by 151.3% during the third quarter. Nisa Investment Advisors LLC now owns 4,118 shares of the specialty chemicals company’s stock valued at $3,416,000 after purchasing an additional 2,479 shares during the last quarter. Anfield Capital Management LLC bought a new position in NewMarket during the third quarter valued at approximately $2,321,000. Finally, Advisors Asset Management Inc. lifted its position in NewMarket by 221.5% during the third quarter. Advisors Asset Management Inc. now owns 2,662 shares of the specialty chemicals company’s stock valued at $2,205,000 after purchasing an additional 1,834 shares during the period. 61.09% of the stock is owned by hedge funds and other institutional investors.

NewMarket Trading Up 0.2%

Shares of NYSE:NEU opened at $622.18 on Wednesday. The stock’s 50-day simple moving average is $658.75 and its two-hundred day simple moving average is $738.09. The stock has a market capitalization of $5.85 billion, a price-to-earnings ratio of 14.01 and a beta of 0.50. NewMarket Corporation has a 52-week low of $510.07 and a 52-week high of $875.97. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 2.53.

NewMarket (NYSE:NEU) last released its quarterly earnings results on Wednesday, February 11th. The specialty chemicals company reported $8.65 EPS for the quarter. The firm had revenue of $635.40 million during the quarter. NewMarket had a net margin of 15.37% and a return on equity of 25.38%.

NewMarket Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 16th will be issued a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Monday, March 16th. NewMarket’s dividend payout ratio is currently 27.01%.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of NewMarket from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 2nd. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy”.

Insiders Place Their Bets

In other NewMarket news, Director Ting Xu purchased 400 shares of the company’s stock in a transaction dated Tuesday, February 24th. The shares were acquired at an average price of $619.21 per share, for a total transaction of $247,684.00. Following the purchase, the director directly owned 929 shares of the company’s stock, valued at $575,246.09. The trade was a 75.61% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 19.10% of the company’s stock.

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.