NewMarket Co. (NYSE:NEU) Shares Purchased by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury lifted its stake in NewMarket Co. (NYSE:NEU - Free Report) by 14.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,000 shares of the specialty chemicals company's stock after acquiring an additional 650 shares during the period. State of Tennessee Department of Treasury owned 0.05% of NewMarket worth $2,642,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in NEU. Vanguard Group Inc. grew its holdings in NewMarket by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 731,312 shares of the specialty chemicals company's stock worth $386,389,000 after purchasing an additional 8,951 shares during the last quarter. Pacer Advisors Inc. grew its stake in NewMarket by 1.3% during the 4th quarter. Pacer Advisors Inc. now owns 198,065 shares of the specialty chemicals company's stock worth $104,648,000 after buying an additional 2,493 shares during the last quarter. Dimensional Fund Advisors LP increased its position in NewMarket by 2.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 170,218 shares of the specialty chemicals company's stock valued at $89,938,000 after buying an additional 4,621 shares in the last quarter. Geode Capital Management LLC increased its position in NewMarket by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 124,387 shares of the specialty chemicals company's stock valued at $65,741,000 after buying an additional 1,733 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in NewMarket by 20.6% in the fourth quarter. Bank of New York Mellon Corp now owns 91,875 shares of the specialty chemicals company's stock valued at $48,542,000 after buying an additional 15,694 shares during the last quarter. 61.09% of the stock is owned by institutional investors.

NewMarket Stock Performance

NYSE:NEU traded up $5.41 during trading hours on Friday, hitting $627.19. 43,989 shares of the company were exchanged, compared to its average volume of 36,355. The company's 50 day moving average price is $558.79 and its 200-day moving average price is $538.14. The stock has a market capitalization of $5.92 billion, a price-to-earnings ratio of 13.01 and a beta of 0.41. NewMarket Co. has a 52-week low of $480.00 and a 52-week high of $637.16. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.75 and a quick ratio of 1.40.

NewMarket (NYSE:NEU - Get Free Report) last announced its quarterly earnings data 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 16.59% and a return on equity of 35.48%.

NewMarket Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 16th will be paid a $2.75 dividend. This represents a $11.00 annualized dividend and a dividend yield of 1.75%. The ex-dividend date is Monday, June 16th. NewMarket's payout ratio is 21.89%.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered NewMarket from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, February 19th.

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.