DAVENPORT & Co LLC Purchases 3,967 Shares of NewMarket Corporation (NYSE:NEU)

DAVENPORT & Co LLC increased its stake in NewMarket Corporation (NYSE:NEU - Free Report) by 5.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 70,846 shares of the specialty chemicals company's stock after purchasing an additional 3,967 shares during the period. DAVENPORT & Co LLC owned 0.75% of NewMarket worth $40,131,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Bank of New York Mellon Corp raised its position in shares of NewMarket by 20.6% during the 4th quarter. Bank of New York Mellon Corp now owns 91,875 shares of the specialty chemicals company's stock valued at $48,542,000 after acquiring an additional 15,694 shares during the last quarter. Steward Partners Investment Advisory LLC raised its position in shares of NewMarket by 481.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 157 shares of the specialty chemicals company's stock valued at $83,000 after acquiring an additional 130 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of NewMarket by 4.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 82,347 shares of the specialty chemicals company's stock valued at $43,508,000 after acquiring an additional 3,601 shares during the last quarter. Assetmark Inc. raised its position in shares of NewMarket by 0.6% during the 4th quarter. Assetmark Inc. now owns 3,118 shares of the specialty chemicals company's stock valued at $1,647,000 after acquiring an additional 20 shares during the last quarter. Finally, Atria Investments Inc raised its position in shares of NewMarket by 1.6% during the 4th quarter. Atria Investments Inc now owns 1,302 shares of the specialty chemicals company's stock valued at $688,000 after acquiring an additional 20 shares during the last quarter. Institutional investors own 61.09% of the company's stock.

NewMarket Trading Up 2.4%

Shares of NewMarket stock traded up $17.18 on Friday, hitting $737.28. 116,709 shares of the company's stock traded hands, compared to its average volume of 52,052. The firm's 50-day moving average price is $650.90 and its two-hundred day moving average price is $574.34. The stock has a market capitalization of $6.95 billion, a PE ratio of 14.68 and a beta of 0.42. NewMarket Corporation has a one year low of $480.00 and a one year high of $737.28. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.84 and a quick ratio of 1.60.

NewMarket (NYSE:NEU - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The specialty chemicals company reported $13.26 earnings per share (EPS) for the quarter. NewMarket had a net margin of 17.22% and a return on equity of 34.45%. The company had revenue of $700.95 million during the quarter.

NewMarket Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Monday, June 16th were paid a $2.75 dividend. This represents a $11.00 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date of this dividend was Monday, June 16th. NewMarket's payout ratio is presently 21.89%.

Insiders Place Their Bets

In related news, CAO Bruce R. Hazelgrove III sold 311 shares of the company's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $642.43, for a total value of $199,795.73. Following the completion of the transaction, the chief accounting officer directly owned 358 shares of the company's stock, valued at approximately $229,989.94. This represents a 46.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 19.10% of the company's stock.

NewMarket Profile

NewMarket Corporation, through its subsidiaries, primarily engages in the manufacture and sale of petroleum additives. The company offers lubricant additives for use in various vehicle and industrial applications, including engine oils, transmission fluids, off-road powertrain and hydraulic systems, gear oils, hydraulic oils, turbine oils, and other applications where metal-to-metal moving parts are utilized; engine oil additives designed for passenger cars, motorcycles, on and off-road heavy duty commercial equipment, locomotives, and engines in ocean-going vessels; driveline additives designed for products, such as transmission fluids, axle fluids, and off-road powertrain fluids; and industrial additives designed for products for industrial applications consisting of hydraulic fluids, grease, industrial gear fluids, and industrial specialty applications, such as turbine oils.