NewMarket Co. (NYSE:NEU) Shares Sold by State of Michigan Retirement System

State of Michigan Retirement System lowered its stake in shares of NewMarket Co. (NYSE:NEU) by 5.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,637 shares of the specialty chemicals company’s stock after selling 100 shares during the quarter. State of Michigan Retirement System’s holdings in NewMarket were worth $844,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. ORG Partners LLC purchased a new stake in NewMarket during the 1st quarter worth about $30,000. UMB Bank n.a. grew its position in shares of NewMarket by 64.5% during the first quarter. UMB Bank n.a. now owns 51 shares of the specialty chemicals company’s stock worth $32,000 after buying an additional 20 shares in the last quarter. Janiczek Wealth Management LLC increased its stake in shares of NewMarket by 1,300.0% during the first quarter. Janiczek Wealth Management LLC now owns 56 shares of the specialty chemicals company’s stock worth $36,000 after buying an additional 52 shares during the period. GAMMA Investing LLC acquired a new stake in NewMarket in the fourth quarter valued at approximately $50,000. Finally, EntryPoint Capital LLC raised its holdings in NewMarket by 29.6% in the first quarter. EntryPoint Capital LLC now owns 175 shares of the specialty chemicals company’s stock valued at $111,000 after acquiring an additional 40 shares in the last quarter. 61.09% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of NewMarket from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 6th.

NewMarket Stock Performance

NYSE:NEU opened at $573.77 on Friday. The firm has a market capitalization of $5.50 billion, a PE ratio of 13.80 and a beta of 0.47. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.66 and a quick ratio of 1.60. The business’s fifty day moving average price is $541.59 and its 200 day moving average price is $567.41. NewMarket Co. has a 12 month low of $436.90 and a 12 month high of $650.00.

NewMarket (NYSE:NEU) last released its quarterly earnings data on Monday, July 29th. The specialty chemicals company reported $11.63 EPS for the quarter. The business had revenue of $710.23 million for the quarter. NewMarket had a return on equity of 37.06% and a net margin of 15.12%.

NewMarket Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 16th will be given a dividend of $2.50 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $10.00 annualized dividend and a dividend yield of 1.74%. NewMarket’s dividend payout ratio is presently 24.06%.

Insider Activity

In related news, CAO Bruce R. Hazelgrove III sold 1,270 shares of NewMarket stock in a transaction on Friday, August 9th. The shares were sold at an average price of $544.31, for a total transaction of $691,273.70. Following the sale, the chief accounting officer now directly owns 358 shares in the company, valued at approximately $194,862.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 20.40% of the company’s stock.

NewMarket Company 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.