State Board of Administration of Florida Retirement System Raises Stake in NewMarket Co. (NYSE:NEU)

State Board of Administration of Florida Retirement System grew its stake in shares of NewMarket Co. (NYSE:NEUGet Rating) by 20.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,525 shares of the specialty chemicals company’s stock after purchasing an additional 607 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in NewMarket were worth $1,061,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. M&T Bank Corp boosted its stake in shares of NewMarket by 2.3% during the second quarter. M&T Bank Corp now owns 11,719 shares of the specialty chemicals company’s stock valued at $3,505,000 after purchasing an additional 261 shares during the period. Heritage Wealth Advisors lifted its stake in NewMarket by 70.4% in the second quarter. Heritage Wealth Advisors now owns 1,801 shares of the specialty chemicals company’s stock worth $542,000 after acquiring an additional 744 shares during the period. Envestnet Asset Management Inc. lifted its stake in NewMarket by 5.5% in the second quarter. Envestnet Asset Management Inc. now owns 13,210 shares of the specialty chemicals company’s stock worth $3,976,000 after acquiring an additional 685 shares during the period. Treasurer of the State of North Carolina lifted its stake in NewMarket by 9.9% in the second quarter. Treasurer of the State of North Carolina now owns 2,564 shares of the specialty chemicals company’s stock worth $772,000 after acquiring an additional 230 shares during the period. Finally, Xponance Inc. lifted its stake in NewMarket by 6.0% in the second quarter. Xponance Inc. now owns 790 shares of the specialty chemicals company’s stock worth $238,000 after acquiring an additional 45 shares during the period. 65.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, StockNews.com started coverage on shares of NewMarket in a research note on Wednesday, October 12th. They issued a “buy” rating for the company.

NewMarket Stock Up 1.3 %

NYSE:NEU opened at $308.55 on Friday. The firm has a market cap of $3.05 billion, a PE ratio of 15.23 and a beta of 0.31. The company has a debt-to-equity ratio of 1.51, a current ratio of 2.76 and a quick ratio of 1.37. The company has a 50-day moving average of $302.01 and a 200 day moving average of $307.07. NewMarket Co. has a 1-year low of $280.28 and a 1-year high of $360.77.

NewMarket Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 3rd. Shareholders of record on Thursday, December 15th will be issued a $2.10 dividend. The ex-dividend date of this dividend is Wednesday, December 14th. This represents a $8.40 dividend on an annualized basis and a yield of 2.72%. NewMarket’s dividend payout ratio is presently 41.46%.

NewMarket Profile

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NewMarket Corporation, through its subsidiaries, engages in the petroleum additives business. 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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Institutional Ownership by Quarter for NewMarket (NYSE:NEU)

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