VIRGINIA RETIREMENT SYSTEMS ET Al Makes New $2.46 Million Investment in NewMarket Corporation $NEU

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in NewMarket Corporation (NYSE:NEU) in the second quarter, HoldingsChannel reports. The firm acquired 3,564 shares of the specialty chemicals company’s stock, valued at approximately $2,462,000.

Other institutional investors have also modified their holdings of the company. Caitong International Asset Management Co. Ltd raised its position in shares of NewMarket by 587.5% in the first quarter. Caitong International Asset Management Co. Ltd now owns 55 shares of the specialty chemicals company’s stock valued at $31,000 after buying an additional 47 shares during the last quarter. Private Trust Co. NA raised its position in shares of NewMarket by 185.2% in the first quarter. Private Trust Co. NA now owns 77 shares of the specialty chemicals company’s stock valued at $44,000 after buying an additional 50 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of NewMarket by 100.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78 shares of the specialty chemicals company’s stock valued at $44,000 after buying an additional 39 shares during the last quarter. ST Germain D J Co. Inc. acquired a new position in shares of NewMarket in the second quarter valued at approximately $83,000. Finally, Northwestern Mutual Wealth Management Co. raised its position in shares of NewMarket by 13.1% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 198 shares of the specialty chemicals company’s stock valued at $112,000 after buying an additional 23 shares during the last quarter. Institutional investors and hedge funds own 61.09% of the company’s stock.

NewMarket Stock Performance

Shares of NEU stock opened at $760.26 on Wednesday. NewMarket Corporation has a one year low of $480.00 and a one year high of $875.97. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.43 and a current ratio of 2.66. The company has a 50 day moving average price of $811.49 and a 200 day moving average price of $709.08. The firm has a market capitalization of $7.14 billion, a price-to-earnings ratio of 15.07 and a beta of 0.45.

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

NewMarket Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th were paid a dividend of $2.75 per share. This represents a $11.00 annualized dividend and a yield of 1.4%. The ex-dividend date was Monday, September 15th. NewMarket’s payout ratio is currently 21.80%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on NEU shares. Weiss Ratings reissued a “buy (b+)” rating on shares of NewMarket in a research report on Wednesday, October 8th. Wall Street Zen lowered shares of NewMarket from a “buy” rating to a “hold” rating in a research report on Saturday, August 30th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, NewMarket has a consensus rating of “Buy”.

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.