Retirement Systems of Alabama Buys 799 Shares of NewMarket Co. (NYSE:NEU)

Retirement Systems of Alabama grew its stake in shares of NewMarket Co. (NYSE:NEU) by 2.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 30,524 shares of the specialty chemicals company’s stock after acquiring an additional 799 shares during the period. Retirement Systems of Alabama owned about 0.32% of NewMarket worth $16,846,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of NEU. Envestnet Portfolio Solutions Inc. raised its holdings in shares of NewMarket by 17.4% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 850 shares of the specialty chemicals company’s stock valued at $438,000 after acquiring an additional 126 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in shares of NewMarket by 112.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,254 shares of the specialty chemicals company’s stock worth $1,167,000 after purchasing an additional 1,195 shares during the period. HB Wealth Management LLC boosted its stake in shares of NewMarket by 27.4% during the second quarter. HB Wealth Management LLC now owns 39,504 shares of the specialty chemicals company’s stock valued at $20,367,000 after purchasing an additional 8,496 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of NewMarket by 35.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,239 shares of the specialty chemicals company’s stock valued at $639,000 after purchasing an additional 321 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in NewMarket during the second quarter valued at approximately $928,000. Institutional investors own 61.09% of the company’s stock.

NewMarket Stock Up 0.5 %

NewMarket stock opened at $541.60 on Monday. The company has a quick ratio of 1.50, a current ratio of 2.83 and a debt-to-equity ratio of 0.80. The firm has a market cap of $5.20 billion, a P/E ratio of 12.03 and a beta of 0.50. The business has a fifty day moving average of $537.02 and a two-hundred day moving average of $540.50. NewMarket Co. has a twelve month low of $494.04 and a twelve month high of $650.00.

NewMarket (NYSE:NEU) last posted its earnings results on Wednesday, October 23rd. The specialty chemicals company reported $13.79 earnings per share (EPS) for the quarter. The company had revenue of $724.95 million for the quarter. NewMarket had a return on equity of 35.79% and a net margin of 15.57%.

NewMarket Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 16th will be given a dividend of $2.50 per share. The ex-dividend date is Monday, December 16th. This represents a $10.00 dividend on an annualized basis and a yield of 1.85%. NewMarket’s payout ratio is 22.21%.

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.