8,228 NewMarket Corporation $NEU Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue lessened its stake in NewMarket Corporation (NYSE:NEU) by 84.9% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,468 shares of the specialty chemicals company’s stock after selling 8,228 shares during the quarter. State of Alaska Department of Revenue’s holdings in NewMarket were worth $1,316,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Trust Co. of Vermont purchased a new stake in shares of NewMarket during the 2nd quarter valued at approximately $28,000. Johnson Financial Group Inc. bought a new position in NewMarket in the second quarter valued at $64,000. Strs Ohio increased its stake in NewMarket by 12.7% in the first quarter. Strs Ohio now owns 151 shares of the specialty chemicals company’s stock valued at $97,000 after acquiring an additional 17 shares during the last quarter. Rockefeller Capital Management L.P. raised its position in NewMarket by 113.7% during the fourth quarter. Rockefeller Capital Management L.P. now owns 156 shares of the specialty chemicals company’s stock valued at $108,000 after purchasing an additional 83 shares in the last quarter. Finally, Global Retirement Partners LLC purchased a new stake in NewMarket during the second quarter valued at about $138,000. 61.09% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on NEU. Wall Street Zen raised NewMarket from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. Weiss Ratings raised NewMarket from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. One investment analyst has rated the stock with a Buy rating. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy”.

NewMarket Price Performance

Shares of NYSE NEU opened at $880.19 on Wednesday. The company has a 50 day simple moving average of $905.94 and a two-hundred day simple moving average of $805.49. NewMarket Corporation has a fifty-two week low of $580.03 and a fifty-two week high of $981.66. The company has a market capitalization of $8.10 billion, a price-to-earnings ratio of 18.93 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) last posted its quarterly earnings data on Wednesday, July 29th. The specialty chemicals company reported $14.54 earnings per share for the quarter. NewMarket had a return on equity of 24.62% and a net margin of 15.80%. The company had revenue of $747.09 million during the quarter.

NewMarket Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Tuesday, September 15th were given a dividend of $3.00 per share. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $12.00 annualized dividend and a dividend yield of 1.4%. NewMarket’s dividend payout ratio (DPR) is 25.82%.

NewMarket Profile

NewMarket Corporation (NYSE: NEU) is a holding company focused primarily on the development, manufacture and sale of petroleum additives. Its products are used to improve the performance, durability, efficiency and environmental characteristics of fuels, lubricants and other petroleum-based products.

NewMarket’s principal operating businesses include Afton Chemical Corporation and Ethyl Corporation. Afton Chemical develops and supplies additive packages and components for engine oils, transmission fluids, hydraulic fluids, fuels and other industrial applications.