Burney Co. Buys 1,530 Shares of NewMarket Corporation $NEU

Burney Co. raised its stake in NewMarket Corporation (NYSE:NEU) by 64.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,919 shares of the specialty chemicals company’s stock after buying an additional 1,530 shares during the period. Burney Co.’s holdings in NewMarket were worth $2,707,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Crossmark Global Holdings Inc. acquired a new position in shares of NewMarket in the 1st quarter valued at about $257,000. Sequoia Financial Advisors LLC acquired a new position in shares of NewMarket in the 2nd quarter valued at about $331,000. Private Trust Co. NA lifted its stake in shares of NewMarket by 185.2% in the 1st quarter. Private Trust Co. NA now owns 77 shares of the specialty chemicals company’s stock valued at $44,000 after purchasing an additional 50 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in shares of NewMarket by 45.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 718 shares of the specialty chemicals company’s stock valued at $407,000 after purchasing an additional 223 shares during the period. Finally, Allianz Asset Management GmbH lifted its stake in shares of NewMarket by 15.1% in the 1st quarter. Allianz Asset Management GmbH now owns 3,993 shares of the specialty chemicals company’s stock valued at $2,262,000 after purchasing an additional 523 shares during the period. Institutional investors own 61.09% of the company’s stock.

NewMarket Stock Down 0.2%

NEU stock opened at $766.32 on Tuesday. The stock’s 50 day simple moving average is $806.61 and its 200 day simple moving average is $724.51. NewMarket Corporation has a fifty-two week low of $480.00 and a fifty-two week high of $875.97. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.43 and a current ratio of 2.66. The company has a market cap of $7.20 billion, a P/E ratio of 15.19 and a beta of 0.45.

NewMarket (NYSE:NEU) last posted its quarterly earnings results on Thursday, October 30th. The specialty chemicals company reported $10.67 earnings per share for the quarter. NewMarket had a return on equity of 32.25% and a net margin of 17.28%.The business had revenue of $690.31 million for the quarter.

NewMarket Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 15th will be paid a dividend of $3.00 per share. This is an increase from NewMarket’s previous quarterly dividend of $2.75. The ex-dividend date of this dividend is Monday, December 15th. This represents a $12.00 dividend on an annualized basis and a yield of 1.6%. NewMarket’s dividend payout ratio (DPR) is currently 25.35%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Wall Street Zen downgraded NewMarket from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th. Weiss Ratings reissued a “buy (b+)” rating on shares of NewMarket in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, NewMarket has an average rating of “Buy”.

About NewMarket

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.