Retirement Systems of Alabama Raises Holdings in NewMarket Co. (NYSE:NEU)

Retirement Systems of Alabama lifted its stake in NewMarket Co. (NYSE:NEU) by 2.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 30,524 shares of the specialty chemicals company’s stock after purchasing an additional 799 shares during the quarter. Retirement Systems of Alabama’s holdings in NewMarket were worth $16,846,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of NEU. Headlands Technologies LLC acquired a new position in shares of NewMarket in the second quarter valued at about $33,000. Quest Partners LLC purchased a new stake in NewMarket in the second quarter valued at approximately $38,000. Blue Trust Inc. increased its holdings in NewMarket by 590.9% in the 3rd quarter. Blue Trust Inc. now owns 76 shares of the specialty chemicals company’s stock worth $39,000 after buying an additional 65 shares during the period. Ashton Thomas Private Wealth LLC purchased a new position in NewMarket during the 2nd quarter worth approximately $54,000. Finally, nVerses Capital LLC acquired a new stake in NewMarket during the 2nd quarter valued at approximately $103,000. 61.09% of the stock is currently owned by institutional investors and hedge funds.

NewMarket Stock Up 0.5 %

NEU stock opened at $541.60 on Monday. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.83 and a quick ratio of 1.50. The firm’s fifty day simple moving average is $537.02 and its 200-day simple moving average is $540.50. NewMarket Co. has a 12 month low of $494.04 and a 12 month high of $650.00. The company has a market capitalization of $5.20 billion, a P/E ratio of 12.03 and a beta of 0.50.

NewMarket (NYSE:NEU) last announced its quarterly earnings results on Wednesday, October 23rd. The specialty chemicals company reported $13.79 earnings per share for the quarter. The company had revenue of $724.95 million for the quarter. NewMarket had a return on equity of 35.79% and a net margin of 15.57%.

NewMarket Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 16th will be issued a $2.50 dividend. This represents a $10.00 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend is Monday, December 16th. NewMarket’s payout ratio is presently 22.21%.

About NewMarket

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.