Teacher Retirement System of Texas Acquires 722 Shares of NewMarket Corporation (NYSE:NEU)

Teacher Retirement System of Texas boosted its position in NewMarket Corporation (NYSE:NEU - Free Report) by 9.2% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 8,610 shares of the specialty chemicals company's stock after purchasing an additional 722 shares during the period. Teacher Retirement System of Texas owned about 0.09% of NewMarket worth $4,877,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the company. Private Trust Co. NA lifted its stake in 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 last quarter. DAVENPORT & Co LLC lifted its stake in NewMarket by 5.9% in the 1st quarter. DAVENPORT & Co LLC now owns 70,846 shares of the specialty chemicals company's stock valued at $40,131,000 after purchasing an additional 3,967 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in NewMarket by 8.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 185,858 shares of the specialty chemicals company's stock valued at $105,300,000 after purchasing an additional 15,155 shares during the last quarter. Cobblestone Asset Management LLC raised its holdings in NewMarket by 110.0% in the 1st quarter. Cobblestone Asset Management LLC now owns 2,100 shares of the specialty chemicals company's stock valued at $1,190,000 after acquiring an additional 1,100 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in 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 acquiring an additional 223 shares during the period. 61.09% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CAO Bruce R. Hazelgrove III sold 311 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $642.43, for a total transaction of $199,795.73. Following the transaction, the chief accounting officer directly owned 358 shares of the company's stock, valued at approximately $229,989.94. This trade represents a 46.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 19.10% of the stock is currently owned by corporate insiders.

NewMarket Stock Performance

NewMarket stock traded down $3.51 during trading hours on Tuesday, hitting $733.92. The company had a trading volume of 145,551 shares, compared to its average volume of 75,478. The firm has a market cap of $6.92 billion, a PE ratio of 14.61 and a beta of 0.42. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.84 and a quick ratio of 1.60. NewMarket Corporation has a one year low of $480.00 and a one year high of $742.44. The firm has a 50-day moving average of $653.51 and a 200 day moving average of $576.18.

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

NewMarket Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Monday, June 16th were issued a $2.75 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $11.00 annualized dividend and a yield of 1.50%. NewMarket's dividend payout ratio is currently 21.89%.

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.