NewMarket Corporation $NEU Stock: State of Alaska Department of Revenue Lowers Stake

State of Alaska Department of Revenue lowered its position in NewMarket Corporation (NYSE:NEU) by 84.9% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,468 shares of the specialty chemicals company’s stock after selling 8,228 shares during the quarter. State of Alaska Department of Revenue’s holdings in NewMarket were worth $1,316,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in NEU. Krilogy Financial LLC lifted its position in NewMarket by 12.5% during the third quarter. Krilogy Financial LLC now owns 352 shares of the specialty chemicals company’s stock valued at $316,000 after purchasing an additional 39 shares in the last quarter. NorthCrest Asset Manangement LLC boosted its position in shares of NewMarket by 6.2% in the third quarter. NorthCrest Asset Manangement LLC now owns 342 shares of the specialty chemicals company’s stock worth $309,000 after purchasing an additional 20 shares during the period. Wedmont Private Capital increased its stake in shares of NewMarket by 238.0% in the third quarter. Wedmont Private Capital now owns 1,166 shares of the specialty chemicals company’s stock worth $1,054,000 after purchasing an additional 821 shares in the last quarter. GAMMA Investing LLC raised its position in shares of NewMarket by 24.3% during the 3rd quarter. GAMMA Investing LLC now owns 363 shares of the specialty chemicals company’s stock valued at $326,000 after purchasing an additional 71 shares during the period. Finally, Sequoia Financial Advisors LLC bought a new stake in shares of NewMarket during the 2nd quarter valued at $236,000. 61.09% of the stock is currently owned by institutional investors.

NewMarket Price Performance

Shares of NewMarket stock opened at $880.19 on Wednesday. The firm has a market cap of $8.10 billion, a PE ratio of 18.93 and a beta of 0.55. The stock has a 50 day moving average of $905.94 and a 200 day moving average of $805.49. The company has a current ratio of 2.25, a quick ratio of 1.23 and a debt-to-equity ratio of 0.47. NewMarket Corporation has a 12 month low of $580.03 and a 12 month high of $981.66.

NewMarket (NYSE:NEU) last released its quarterly earnings data on Wednesday, July 29th. The specialty chemicals company reported $14.54 earnings per share (EPS) for the quarter. NewMarket had a return on equity of 24.62% and a net margin of 15.80%. The business had revenue of $747.09 million for the quarter.

NewMarket Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Tuesday, September 15th were paid a dividend of $3.00 per share. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $12.00 dividend on an annualized basis and a yield of 1.4%. NewMarket’s dividend payout ratio is presently 25.82%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on NEU shares. Wall Street Zen raised shares of NewMarket from a “hold” rating to a “buy” rating in a report on Saturday, August 1st. Weiss Ratings upgraded NewMarket from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. One equities research analyst has rated the stock with a Buy rating. Based on data from MarketBeat, NewMarket presently has a consensus rating of “Buy”.

About NewMarket

NewMarket Corporation (NYSE: NEU) is a holding company focused primarily on the development, manufacture and sale of petroleum additives. Its products are used to improve the performance, durability, efficiency and environmental characteristics of fuels, lubricants and other petroleum-based products.

NewMarket’s principal operating businesses include Afton Chemical Corporation and Ethyl Corporation. Afton Chemical develops and supplies additive packages and components for engine oils, transmission fluids, hydraulic fluids, fuels and other industrial applications.