Louisiana State Employees Retirement System Buys Shares of 1,800 NewMarket Co. (NYSE:NEU)

Louisiana State Employees Retirement System bought a new stake in NewMarket Co. (NYSE:NEU – Get Rating) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,800 shares of the specialty chemicals company’s stock, valued at approximately $541,000.

Several other hedge funds have also recently made changes to their positions in the company. DAVENPORT & Co LLC raised its stake in shares of NewMarket by 7.9% during the 3rd quarter. DAVENPORT & Co LLC now owns 149,375 shares of the specialty chemicals company’s stock valued at $44,630,000 after purchasing an additional 10,898 shares during the period. Sei Investments Co. raised its stake in shares of NewMarket by 32.5% during the 2nd quarter. Sei Investments Co. now owns 8,913 shares of the specialty chemicals company’s stock valued at $2,744,000 after purchasing an additional 2,184 shares during the period. Quantbot Technologies LP raised its stake in shares of NewMarket by 12,580.0% during the 2nd quarter. Quantbot Technologies LP now owns 634 shares of the specialty chemicals company’s stock valued at $190,000 after purchasing an additional 629 shares during the period. Rhumbline Advisers raised its stake in shares of NewMarket by 8.8% during the 2nd quarter. Rhumbline Advisers now owns 26,305 shares of the specialty chemicals company’s stock valued at $7,917,000 after purchasing an additional 2,126 shares during the period. Finally, Bridgewater Associates LP bought a new stake in shares of NewMarket during the 2nd quarter valued at $206,000. 58.48% of the stock is currently owned by institutional investors.

NewMarket Stock Performance

NYSE:NEU opened at $336.25 on Monday. The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.37 and a current ratio of 2.76. NewMarket Co. has a 52-week low of $280.28 and a 52-week high of $360.77. The firm has a market cap of $3.32 billion, a price-to-earnings ratio of 16.60 and a beta of 0.31. The business’s fifty day moving average is $310.42 and its 200 day moving average is $304.22.

NewMarket (NYSE:NEU – Get Rating) last posted its earnings results on Monday, October 24th. The specialty chemicals company reported $6.32 EPS for the quarter. NewMarket had a return on equity of 29.16% and a net margin of 7.76%. The business had revenue of $696.05 million during the quarter.

NewMarket Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 3rd. Investors of record on Thursday, December 15th were given a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a yield of 2.50%. The ex-dividend date was Wednesday, December 14th. NewMarket’s payout ratio is 41.46%.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on NewMarket in a research note on Wednesday, October 12th. They set a “buy” rating on the stock.

NewMarket Company 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.