New York State Common Retirement Fund Sells 25,800 Shares of NewMarket Corporation (NYSE:NEU)

New York State Common Retirement Fund lessened its stake in NewMarket Corporation (NYSE:NEU - Free Report) by 87.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,694 shares of the specialty chemicals company's stock after selling 25,800 shares during the quarter. New York State Common Retirement Fund's holdings in NewMarket were worth $2,092,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of NEU. GAMMA Investing LLC raised its stake in NewMarket by 54,160.0% in the first quarter. GAMMA Investing LLC now owns 103,094 shares of the specialty chemicals company's stock valued at $58,398,000 after purchasing an additional 102,904 shares in the last quarter. Norges Bank acquired a new position in NewMarket during the fourth quarter worth about $41,268,000. American Century Companies Inc. raised its stake in NewMarket by 147.2% during the fourth quarter. American Century Companies Inc. now owns 47,717 shares of the specialty chemicals company's stock worth $25,211,000 after acquiring an additional 28,417 shares in the last quarter. Northern Trust Corp raised its stake in NewMarket by 23.8% during the fourth quarter. Northern Trust Corp now owns 80,156 shares of the specialty chemicals company's stock worth $42,350,000 after acquiring an additional 15,424 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in NewMarket by 8.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 185,858 shares of the specialty chemicals company's stock worth $105,300,000 after acquiring an additional 15,155 shares in the last quarter. Institutional investors and hedge funds own 61.09% of the company's stock.

NewMarket Price Performance

NYSE NEU traded down $10.93 during trading on Friday, hitting $708.01. 84,189 shares of the company's stock were exchanged, compared to its average volume of 97,329. The company has a current ratio of 2.84, a quick ratio of 1.60 and a debt-to-equity ratio of 0.65. The company has a market cap of $6.68 billion, a PE ratio of 14.09 and a beta of 0.42. NewMarket Corporation has a fifty-two week low of $480.00 and a fifty-two week high of $743.52. The stock's 50 day moving average price is $680.90 and its two-hundred day moving average price is $596.23.

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

Insider Activity

In other news, CAO Bruce R. Hazelgrove III sold 311 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was 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 owned 358 shares of the company's stock, valued at $229,989.94. This represents a 46.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 19.10% of the stock is owned by corporate insiders.

NewMarket Company 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.