Maryland State Retirement & Pension System Buys Shares of 372 NewMarket Corporation $NEU

Maryland State Retirement & Pension System purchased a new position in NewMarket Corporation (NYSE:NEU) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 372 shares of the specialty chemicals company’s stock, valued at approximately $211,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. GAMMA Investing LLC boosted its stake 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 valued at $58,398,000 after purchasing an additional 102,904 shares during the period. Northern Trust Corp grew its holdings in NewMarket by 23.8% in the 4th quarter. Northern Trust Corp now owns 80,156 shares of the specialty chemicals company’s stock worth $42,350,000 after buying an additional 15,424 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in NewMarket by 8.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 185,858 shares of the specialty chemicals company’s stock valued at $105,300,000 after acquiring an additional 15,155 shares during the period. Barclays PLC raised its stake in NewMarket by 293.3% during the 4th quarter. Barclays PLC now owns 18,928 shares of the specialty chemicals company’s stock valued at $10,002,000 after acquiring an additional 14,115 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in NewMarket by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 744,723 shares of the specialty chemicals company’s stock worth $421,848,000 after acquiring an additional 13,411 shares during the period. 61.09% of the stock is owned by institutional investors and hedge funds.

NewMarket Price Performance

Shares of NEU opened at $777.5410 on Wednesday. The firm has a market capitalization of $7.31 billion, a price-to-earnings ratio of 15.41 and a beta of 0.45. The stock’s fifty day moving average is $710.50 and its 200-day moving average is $623.84. NewMarket Corporation has a one year low of $480.00 and a one year high of $781.69. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.43 and a current ratio of 2.66.

NewMarket (NYSE:NEU) last released its quarterly earnings results on Wednesday, July 30th. The specialty chemicals company reported $11.84 EPS for the quarter. The company had revenue of $698.51 million for the quarter. NewMarket had a net margin of 17.28% and a return on equity of 32.25%.

NewMarket Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be paid a $2.75 dividend. This represents a $11.00 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Monday, September 15th. NewMarket’s payout ratio is currently 21.80%.

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.