NewMarket Corporation $NEU Stock Position Raised by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund increased its stake in NewMarket Corporation (NYSE:NEU) by 60.5% during the first quarter, HoldingsChannel.com reports. The fund owned 11,084 shares of the specialty chemicals company’s stock after buying an additional 4,180 shares during the period. Illinois Municipal Retirement Fund’s holdings in NewMarket were worth $7,104,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Ethos Financial Group LLC raised its position in shares of NewMarket by 52.5% during the first quarter. Ethos Financial Group LLC now owns 1,072 shares of the specialty chemicals company’s stock worth $690,000 after purchasing an additional 369 shares during the period. Principal Financial Group Inc. boosted its position in shares of NewMarket by 3.8% in the 1st quarter. Principal Financial Group Inc. now owns 17,363 shares of the specialty chemicals company’s stock valued at $11,129,000 after purchasing an additional 643 shares during the period. Fifth Third Bancorp increased its stake in NewMarket by 2,932.4% in the 1st quarter. Fifth Third Bancorp now owns 2,153 shares of the specialty chemicals company’s stock worth $1,380,000 after purchasing an additional 2,082 shares in the last quarter. Childress Capital Advisors LLC purchased a new position in NewMarket in the 1st quarter worth about $350,000. Finally, QRG Capital Management Inc. raised its holdings in NewMarket by 324.4% during the 1st quarter. QRG Capital Management Inc. now owns 2,504 shares of the specialty chemicals company’s stock worth $1,605,000 after buying an additional 1,914 shares during the period. 61.09% of the stock is owned by institutional investors and hedge funds.

NewMarket Trading Down 0.1%

NYSE NEU opened at $770.83 on Friday. The firm’s 50 day moving average price is $768.92 and its two-hundred day moving average price is $693.13. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 2.55. NewMarket Corporation has a twelve month low of $580.03 and a twelve month high of $875.97. The stock has a market cap of $7.09 billion, a price-to-earnings ratio of 17.61 and a beta of 0.56.

NewMarket (NYSE:NEU) last released its earnings results on Wednesday, April 22nd. The specialty chemicals company reported $12.62 earnings per share (EPS) for the quarter. The company had revenue of $669.72 million during the quarter. NewMarket had a return on equity of 24.12% and a net margin of 15.25%.

NewMarket Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 15th were paid a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Monday, June 15th. NewMarket’s dividend payout ratio is currently 27.41%.

Analyst Ratings Changes

Separately, Weiss Ratings raised shares of NewMarket from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, June 12th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy”.

About NewMarket

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.