Virginia Retirement Systems ET AL reduced its position in shares of NewMarket Corporation (NYSE:NEU) by 4.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,000 shares of the specialty chemicals company’s stock after selling 300 shares during the period. Virginia Retirement Systems ET AL owned 0.05% of NewMarket worth $2,555,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of NewMarket by 0.6% during the second quarter. Vanguard Group Inc. now owns 862,415 shares of the specialty chemicals company’s stock worth $397,125,000 after purchasing an additional 5,029 shares during the period. BlackRock Inc. boosted its holdings in shares of NewMarket by 1.1% during the second quarter. BlackRock Inc. now owns 723,178 shares of the specialty chemicals company’s stock worth $333,008,000 after purchasing an additional 7,868 shares during the period. State Street Corp boosted its holdings in shares of NewMarket by 3.4% during the second quarter. State Street Corp now owns 235,782 shares of the specialty chemicals company’s stock worth $108,568,000 after purchasing an additional 7,795 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of NewMarket by 2.3% during the third quarter. Bank of New York Mellon Corp now owns 112,813 shares of the specialty chemicals company’s stock worth $48,030,000 after purchasing an additional 2,528 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of NewMarket by 4.9% during the second quarter. Dimensional Fund Advisors LP now owns 68,855 shares of the specialty chemicals company’s stock worth $31,705,000 after purchasing an additional 3,211 shares during the period. Institutional investors own 58.79% of the company’s stock.
Shares of NewMarket Corporation (NYSE NEU) opened at $396.63 on Friday. The company has a quick ratio of 1.50, a current ratio of 2.74 and a debt-to-equity ratio of 0.97. NewMarket Corporation has a 1-year low of $382.04 and a 1-year high of $483.86. The company has a market cap of $4,701.26, a PE ratio of 20.26 and a beta of 0.80.
NewMarket (NYSE:NEU) last issued its quarterly earnings data on Wednesday, October 25th. The specialty chemicals company reported $5.04 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $5.70 by ($0.66). NewMarket had a return on equity of 41.70% and a net margin of 10.85%. The company had revenue of $584.41 million during the quarter, compared to analysts’ expectations of $546.40 million. During the same quarter last year, the business earned $6.00 earnings per share. The business’s quarterly revenue was up 13.2% on a year-over-year basis.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 15th will be issued a $1.75 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $7.00 annualized dividend and a yield of 1.76%. NewMarket’s dividend payout ratio (DPR) is presently 35.75%.
Separately, BidaskClub lowered shares of NewMarket from a “hold” rating to a “sell” rating in a report on Saturday, August 5th.
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NewMarket Company Profile
NewMarket Corporation is a holding company. The Company is the parent company of Afton Chemical Corporation (Afton), Ethyl Corporation (Ethyl), NewMarket Services Corporation (NewMarket Services), and NewMarket Development Corporation (NewMarket Development). The Company operates through petroleum additives segment, which is primarily represented by Afton.
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