VIRGINIA RETIREMENT SYSTEMS ET Al Takes $2.46 Million Position in NewMarket Corporation $NEU

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in NewMarket Corporation (NYSE:NEU - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 3,564 shares of the specialty chemicals company's stock, valued at approximately $2,462,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Parallel Advisors LLC boosted its holdings in shares of NewMarket by 2.1% in the second quarter. Parallel Advisors LLC now owns 740 shares of the specialty chemicals company's stock valued at $511,000 after acquiring an additional 15 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of NewMarket by 13.1% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 198 shares of the specialty chemicals company's stock valued at $112,000 after acquiring an additional 23 shares in the last quarter. GAMMA Investing LLC boosted its holdings in NewMarket by 12.6% during the second quarter. GAMMA Investing LLC now owns 205 shares of the specialty chemicals company's stock worth $142,000 after buying an additional 23 shares in the last quarter. Ritholtz Wealth Management boosted its holdings in NewMarket by 2.4% during the second quarter. Ritholtz Wealth Management now owns 1,110 shares of the specialty chemicals company's stock worth $767,000 after buying an additional 26 shares in the last quarter. Finally, Federated Hermes Inc. boosted its holdings in NewMarket by 4.0% during the first quarter. Federated Hermes Inc. now owns 722 shares of the specialty chemicals company's stock worth $409,000 after buying an additional 28 shares in the last quarter. Hedge funds and other institutional investors own 61.09% of the company's stock.

NewMarket Stock Up 1.4%

NEU stock opened at $760.26 on Wednesday. The company has a current ratio of 2.66, a quick ratio of 1.43 and a debt-to-equity ratio of 0.52. The company has a market cap of $7.14 billion, a P/E ratio of 15.07 and a beta of 0.45. The company's 50-day moving average price is $811.49 and its 200 day moving average price is $709.08. NewMarket Corporation has a 52 week low of $480.00 and a 52 week high of $875.97.

NewMarket (NYSE:NEU - Get Free Report) last announced its earnings results on Wednesday, July 30th. The specialty chemicals company reported $11.84 earnings per share (EPS) for the quarter. The company had revenue of $698.51 million during the quarter. NewMarket had a net margin of 17.28% and a return on equity of 32.25%.

NewMarket Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th were given a dividend of $2.75 per share. The ex-dividend date was Monday, September 15th. This represents a $11.00 dividend on an annualized basis and a yield of 1.4%. NewMarket's payout ratio is presently 21.80%.

Wall Street Analyst Weigh In

A number of research firms recently commented on NEU. Wall Street Zen downgraded shares of NewMarket from a "buy" rating to a "hold" rating in a report on Saturday, August 30th. Weiss Ratings reissued a "buy (b+)" rating on shares of NewMarket in a report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, NewMarket has a consensus rating of "Buy".

NewMarket 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.

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