Retirement Systems of Alabama Has $16.29 Million Stake in NewMarket Co. (NYSE:NEU)

Retirement Systems of Alabama boosted its position in shares of NewMarket Co. (NYSE:NEU) by 0.1% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 29,848 shares of the specialty chemicals company’s stock after purchasing an additional 28 shares during the period. Retirement Systems of Alabama’s holdings in NewMarket were worth $16,292,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of NEU. FSC Wealth Advisors LLC acquired a new stake in NewMarket during the fourth quarter worth about $39,000. Hanseatic Management Services Inc. acquired a new stake in NewMarket during the third quarter worth about $41,000. Lindbrook Capital LLC grew its stake in NewMarket by 35.6% during the fourth quarter. Lindbrook Capital LLC now owns 80 shares of the specialty chemicals company’s stock worth $44,000 after buying an additional 21 shares in the last quarter. GAMMA Investing LLC bought a new position in shares of NewMarket in the fourth quarter worth about $50,000. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of NewMarket by 153.3% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 309 shares of the specialty chemicals company’s stock worth $141,000 after acquiring an additional 187 shares during the last quarter. 61.09% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of NewMarket from a “strong-buy” rating to a “buy” rating in a report on Sunday, February 4th.

NewMarket Stock Down 1.6 %

NEU stock opened at $526.28 on Wednesday. The stock has a market capitalization of $5.05 billion, a P/E ratio of 12.66 and a beta of 0.45. The company has a current ratio of 2.86, a quick ratio of 1.60 and a debt-to-equity ratio of 1.11. NewMarket Co. has a 12 month low of $387.16 and a 12 month high of $650.00. The firm has a 50-day moving average price of $609.70 and a 200-day moving average price of $563.73.

NewMarket (NYSE:NEU) last posted its earnings results on Wednesday, April 24th. The specialty chemicals company reported $11.23 EPS for the quarter. The firm had revenue of $696.74 million during the quarter. NewMarket had a net margin of 14.82% and a return on equity of 38.99%.

NewMarket Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a $2.50 dividend. The ex-dividend date is Friday, June 14th. This represents a $10.00 dividend on an annualized basis and a yield of 1.90%. NewMarket’s dividend payout ratio (DPR) is presently 24.06%.

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.