NewMarket Corporation $NEU Holdings Increased by California State Teachers Retirement System

Key Points

• California State Teachers Retirement System dramatically increased its NewMarket stake by adding 7.1 million shares in the second quarter, bringing its ownership to 77.37% of the company; institutional investors collectively own 61.09% of the stock.
• NewMarket reported quarterly EPS of $14.54 on revenue of $747.09 million, with a 15.80% net margin and 24.62% return on equity.
• The company declared a quarterly dividend of $3.00 per share, equal to $12 annually and a 1.4% yield. Analysts currently have a consensus “Buy” rating, while shares recently traded at $862.70.

California State Teachers Retirement System lifted its stake in NewMarket Corporation (NYSE:NEU - Free Report) by 77,185.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,117,995 shares of the specialty chemicals company's stock after acquiring an additional 7,108,785 shares during the period. California State Teachers Retirement System owned 77.37% of NewMarket worth $5,632,042,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Los Angeles Capital Management LLC bought a new stake in NewMarket during the fourth quarter worth approximately $25,000. Trust Co. of Vermont bought a new position in NewMarket during the 2nd quarter valued at $28,000. International Assets Investment Management LLC bought a new position in NewMarket during the 4th quarter valued at $27,000. Quarry LP acquired a new position in shares of NewMarket during the 3rd quarter valued at $52,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA raised its stake in shares of NewMarket by 50.0% in the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 75 shares of the specialty chemicals company's stock worth $52,000 after buying an additional 25 shares in the last quarter. 61.09% of the stock is currently owned by institutional investors.

NewMarket Price Performance

Shares of NYSE:NEU opened at $862.70 on Thursday. NewMarket Corporation has a one year low of $580.03 and a one year high of $981.66. The stock has a fifty day moving average of $854.55 and a 200-day moving average of $748.99. The company has a market capitalization of $7.94 billion, a PE ratio of 18.56 and a beta of 0.55. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.23 and a current ratio of 2.25.

NewMarket (NYSE:NEU - Get Free Report) last issued its earnings results on Wednesday, July 29th. The specialty chemicals company reported $14.54 earnings per share (EPS) 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 business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 15th will be paid a $3.00 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $12.00 dividend on an annualized basis and a yield of 1.4%. NewMarket's dividend payout ratio (DPR) is currently 25.82%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on NEU shares. Wall Street Zen raised NewMarket from a "hold" rating to a "buy" rating in a research note on Saturday, August 1st. Weiss Ratings upgraded shares of NewMarket from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, June 12th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, NewMarket presently has a consensus rating of "Buy".

NewMarket Company Profile

NewMarket Corporation is a specialty chemicals and lubricants company headquartered in Richmond, Virginia. Through its Valvoline business, the company markets a broad portfolio of automotive aftermarket products, including engine oils, transmission fluids, greases and vehicle care solutions. Valvoline products are distributed through retail and commercial channels as well as a network of quick-lube service centers that provide oil changes, preventive maintenance and related services.

In its chemical additives segment, NewMarket develops, manufactures and sells performance additives for fuels, lubricants and industrial fluids.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.