California State Teachers Retirement System decreased its holdings in NewMarket Corporation (NYSE:NEU - Free Report) by 2.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,996 shares of the specialty chemicals company's stock after selling 214 shares during the quarter. California State Teachers Retirement System owned 0.10% of NewMarket worth $7,117,995 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. BlackRock Inc. purchased a new position in shares of NewMarket in the second quarter valued at $556,339,000. Dimensional Fund Advisors LP grew its holdings in shares of NewMarket by 6.7% during the first quarter. Dimensional Fund Advisors LP now owns 194,507 shares of the specialty chemicals company's stock worth $124,658,000 after buying an additional 12,172 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of NewMarket by 5.4% in the 4th quarter. Geode Capital Management LLC now owns 175,649 shares of the specialty chemicals company's stock worth $120,737,000 after buying an additional 8,978 shares in the last quarter. Caisse de depot et placement du Quebec acquired a new stake in shares of NewMarket in the second quarter worth $72,517,000. Finally, Norges Bank acquired a new position in shares of NewMarket during the fourth quarter valued at $64,654,000. 61.09% of the stock is currently owned by institutional investors.
NewMarket Stock Performance
Shares of NewMarket stock traded up $3.76 on Tuesday, reaching $884.28. 64,537 shares of the stock were exchanged, compared to its average volume of 128,677. The firm has a market capitalization of $8.14 billion, a PE ratio of 19.02 and a beta of 0.55. The business has a fifty day moving average price of $860.16 and a two-hundred day moving average price of $754.79. NewMarket Corporation has a 1-year low of $580.03 and a 1-year high of $981.66. The company has a current ratio of 2.25, a quick ratio of 1.23 and a debt-to-equity ratio of 0.47.
NewMarket (NYSE:NEU - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The specialty chemicals company reported $14.54 earnings per share for the quarter. The business had revenue of $747.09 million for the quarter. NewMarket had a return on equity of 24.62% and a net margin of 15.80%.
NewMarket Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be given a dividend of $3.00 per share. The ex-dividend date is Tuesday, September 15th. This represents a $12.00 annualized dividend and a dividend yield of 1.4%. NewMarket's dividend payout ratio is 25.82%.
Analyst Upgrades and Downgrades
Several analysts have recently weighed in on NEU shares. Wall Street Zen upgraded shares of NewMarket from a "hold" rating to a "buy" rating in a research report on Saturday, August 1st. Weiss Ratings reissued a "buy (b-)" rating on shares of NewMarket in a report on Wednesday, September 9th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has an average rating of "Buy".
Get Our Latest Report on NEU
NewMarket Company Profile
(
Free Report)
NewMarket Corporation NYSE: NEU is a holding company that develops, manufactures and supplies specialty chemicals, primarily for the petroleum and related industries. Its products are designed to improve the performance, efficiency and durability of fuels, lubricants and other petroleum-based products.
NewMarket operates through its principal subsidiaries, including Afton Chemical Corporation and Ethyl Corporation. Afton Chemical develops and produces fuel and lubricant additives used in automotive, marine, aviation, commercial and industrial applications.
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