London Co. of Virginia Sells 24,147 Shares of NewMarket Corporation $NEU

London Co. of Virginia reduced its stake in NewMarket Corporation (NYSE:NEU) by 4.4% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 529,332 shares of the specialty chemicals company’s stock after selling 24,147 shares during the period. NewMarket comprises about 2.4% of London Co. of Virginia’s holdings, making the stock its 6th biggest position. London Co. of Virginia owned about 0.06% of NewMarket worth $438,412,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of NEU. Ameriflex Group Inc. purchased a new stake in NewMarket during the 3rd quarter worth approximately $27,000. Winnow Wealth LLC purchased a new position in shares of NewMarket in the third quarter worth $29,000. Root Financial Partners LLC acquired a new stake in shares of NewMarket during the third quarter worth $30,000. Smartleaf Asset Management LLC lifted its stake 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 worth $37,000 after buying an additional 25 shares during the period. Finally, Quent Capital LLC purchased a new stake in shares of NewMarket during the third quarter valued at $43,000. Hedge funds and other institutional investors own 61.09% of the company’s stock.

Analysts Set New Price Targets

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

Insider Activity

In other NewMarket news, Director Ting Xu bought 400 shares of the firm’s stock in a transaction that occurred on Tuesday, February 24th. The stock was bought at an average cost of $619.21 per share, for a total transaction of $247,684.00. Following the completion of the transaction, the director directly owned 929 shares of the company’s stock, valued at approximately $575,246.09. This trade represents a 75.61% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 19.10% of the stock is currently owned by company insiders.

NewMarket Trading Up 3.6%

NewMarket stock opened at $605.48 on Tuesday. The stock has a 50-day moving average price of $651.00 and a 200 day moving average price of $731.89. The company has a market capitalization of $5.69 billion, a price-to-earnings ratio of 13.63 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 quick ratio of 1.33, a current ratio of 2.53 and a debt-to-equity ratio of 0.50.

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

NewMarket Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 16th will be paid a $3.00 dividend. The ex-dividend date is Monday, March 16th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.0%. NewMarket’s dividend payout ratio is presently 27.01%.

NewMarket 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.