Teacher Retirement System of Texas Reduces Stock Position in NewMarket Corporation $NEU

Teacher Retirement System of Texas cut its position in NewMarket Corporation (NYSE:NEU) by 38.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,293 shares of the specialty chemicals company’s stock after selling 3,331 shares during the period. Teacher Retirement System of Texas owned approximately 0.06% of NewMarket worth $4,384,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of NEU. LSV Asset Management increased its holdings in NewMarket by 27.8% in the 2nd quarter. LSV Asset Management now owns 262,148 shares of the specialty chemicals company’s stock worth $181,108,000 after buying an additional 57,101 shares during the period. Geode Capital Management LLC boosted its holdings in shares of NewMarket by 20.1% in the 2nd quarter. Geode Capital Management LLC now owns 156,613 shares of the specialty chemicals company’s stock valued at $108,212,000 after acquiring an additional 26,254 shares during the last quarter. American Century Companies Inc. increased its stake in shares of NewMarket by 8.2% in the second quarter. American Century Companies Inc. now owns 113,754 shares of the specialty chemicals company’s stock worth $78,588,000 after acquiring an additional 8,634 shares during the period. Bank of New York Mellon Corp increased its stake in shares of NewMarket by 3.0% in the second quarter. Bank of New York Mellon Corp now owns 92,886 shares of the specialty chemicals company’s stock worth $64,171,000 after acquiring an additional 2,727 shares during the period. Finally, Norges Bank purchased a new position in shares of NewMarket during the second quarter worth $51,515,000. Institutional investors and hedge funds own 61.09% of the company’s stock.

NewMarket Stock Performance

Shares of NEU stock opened at $652.26 on Wednesday. The company has a current ratio of 2.68, a quick ratio of 1.43 and a debt-to-equity ratio of 0.46. NewMarket Corporation has a 12-month low of $480.57 and a 12-month high of $875.97. The business’s 50 day moving average is $716.20 and its two-hundred day moving average is $757.10. The company has a market capitalization of $6.13 billion, a P/E ratio of 13.78 and a beta of 0.49.

NewMarket (NYSE:NEU) last announced its earnings results on Thursday, October 30th. The specialty chemicals company reported $10.67 earnings per share for the quarter. NewMarket had a return on equity of 28.53% and a net margin of 16.33%.The business had revenue of $690.31 million during the quarter.

NewMarket Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Monday, December 15th were issued a dividend of $3.00 per share. The ex-dividend date of this dividend was Monday, December 15th. This is a positive change from NewMarket’s previous quarterly dividend of $2.75. This represents a $12.00 annualized dividend and a yield of 1.8%. NewMarket’s payout ratio is 25.35%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of NewMarket in a report on Monday, December 29th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy”.

NewMarket Profile

NewMarket Corporation is a specialty chemicals and lubricants company headquartered in Richmond, Virginia. Through its Valvoline business, the company markets a broad portfolio of automotive aftermarket products, including engine oils, transmission fluids, greases and vehicle care solutions. Valvoline products are distributed through retail and commercial channels as well as a network of quick-lube service centers that provide oil changes, preventive maintenance and related services.

In its chemical additives segment, NewMarket develops, manufactures and sells performance additives for fuels, lubricants and industrial fluids.