NewMarket Co. (NYSE:NEU) Shares Sold by DAVENPORT & Co LLC

DAVENPORT & Co LLC decreased its position in NewMarket Co. (NYSE:NEU - Free Report) by 31.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 72,340 shares of the specialty chemicals company's stock after selling 33,516 shares during the period. DAVENPORT & Co LLC owned approximately 0.75% of NewMarket worth $39,617,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Treasurer of the State of North Carolina raised its position in NewMarket by 0.7% in the 3rd quarter. Treasurer of the State of North Carolina now owns 2,739 shares of the specialty chemicals company's stock worth $1,246,000 after buying an additional 20 shares during the last quarter. Xponance Inc. raised its position in NewMarket by 3.1% in the 3rd quarter. Xponance Inc. now owns 805 shares of the specialty chemicals company's stock worth $366,000 after buying an additional 24 shares during the last quarter. Commonwealth Equity Services LLC raised its position in NewMarket by 2.1% in the 1st quarter. Commonwealth Equity Services LLC now owns 1,336 shares of the specialty chemicals company's stock worth $487,000 after buying an additional 28 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC raised its position in NewMarket by 4.0% in the 3rd quarter. J.P. Morgan Private Wealth Advisors LLC now owns 1,075 shares of the specialty chemicals company's stock worth $489,000 after buying an additional 41 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in NewMarket by 1.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,301 shares of the specialty chemicals company's stock worth $1,205,000 after buying an additional 51 shares during the last quarter. Institutional investors own 61.09% of the company's stock.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of NewMarket from a "strong-buy" rating to a "buy" rating in a research report on Sunday, February 4th.

NewMarket Stock Performance

Shares of NYSE NEU traded down $2.41 during midday trading on Wednesday, hitting $624.58. 37,947 shares of the company's stock traded hands, compared to its average volume of 43,985. NewMarket Co. has a 1 year low of $359.54 and a 1 year high of $650.00. The stock has a market capitalization of $5.99 billion, a price-to-earnings ratio of 15.45 and a beta of 0.45. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.60 and a current ratio of 2.85. The firm has a fifty day moving average of $610.33 and a 200 day moving average of $546.23.

NewMarket (NYSE:NEU - Get Free Report) last released its quarterly earnings results on Wednesday, January 31st. The specialty chemicals company reported $8.38 EPS for the quarter. NewMarket had a net margin of 14.41% and a return on equity of 41.33%. The firm had revenue of $643.35 million during the quarter.

NewMarket Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were issued a $2.50 dividend. This represents a $10.00 annualized dividend and a yield of 1.60%. This is a positive change from NewMarket's previous quarterly dividend of $2.25. The ex-dividend date of this dividend was Thursday, March 14th. NewMarket's dividend payout ratio is currently 24.73%.

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.