Arizona State Retirement System Has $1.33 Million Stake in NewMarket Corporation (NYSE:NEU)

Arizona State Retirement System decreased its position in shares of NewMarket Corporation (NYSE:NEU) by 1.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,340 shares of the specialty chemicals company’s stock after selling 27 shares during the period. Arizona State Retirement System’s holdings in NewMarket were worth $1,325,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. GAMMA Investing LLC lifted its position in NewMarket by 54,160.0% during the 1st quarter. GAMMA Investing LLC now owns 103,094 shares of the specialty chemicals company’s stock worth $58,398,000 after buying an additional 102,904 shares in the last quarter. Norges Bank acquired a new position in NewMarket in the 4th quarter valued at about $41,268,000. American Century Companies Inc. grew its stake in NewMarket by 147.2% in the 4th quarter. American Century Companies Inc. now owns 47,717 shares of the specialty chemicals company’s stock valued at $25,211,000 after buying an additional 28,417 shares during the last quarter. Northern Trust Corp raised its position in shares of NewMarket by 23.8% in the fourth quarter. Northern Trust Corp now owns 80,156 shares of the specialty chemicals company’s stock valued at $42,350,000 after buying an additional 15,424 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in shares of NewMarket by 8.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 185,858 shares of the specialty chemicals company’s stock valued at $105,300,000 after buying an additional 15,155 shares in the last quarter. Institutional investors and hedge funds own 61.09% of the company’s stock.

NewMarket Price Performance

Shares of NYSE:NEU opened at $730.37 on Friday. The company has a market cap of $6.89 billion, a price-to-earnings ratio of 14.54 and a beta of 0.42. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.84 and a quick ratio of 1.60. The firm has a 50 day simple moving average of $672.79 and a 200 day simple moving average of $588.49. NewMarket Corporation has a one year low of $480.00 and a one year high of $743.52.

NewMarket (NYSE:NEU) last posted its quarterly earnings data on Wednesday, April 23rd. The specialty chemicals company reported $13.26 earnings per share for the quarter. NewMarket had a net margin of 17.22% and a return on equity of 34.45%. The company had revenue of $700.95 million during the quarter.

NewMarket Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Monday, June 16th were issued a dividend of $2.75 per share. This represents a $11.00 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date of this dividend was Monday, June 16th. NewMarket’s dividend payout ratio (DPR) is presently 21.89%.

Insiders Place Their Bets

In other news, CAO Bruce R. Hazelgrove III sold 311 shares of the company’s stock in a transaction on Monday, May 12th. The shares were sold at an average price of $642.43, for a total value of $199,795.73. Following the completion of the sale, the chief accounting officer owned 358 shares of the company’s stock, valued at approximately $229,989.94. This represents a 46.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 19.10% of the company’s stock.

NewMarket 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.