VIRGINIA RETIREMENT SYSTEMS ET Al Invests $2.25 Million in NewMarket Corporation $NEU

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of NewMarket Corporation (NYSE:NEU) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 2,844 shares of the specialty chemicals company’s stock, valued at approximately $2,250,000.

A number of other institutional investors also recently added to or reduced their stakes in NEU. Entropy Technologies LP purchased a new stake in NewMarket during the first quarter valued at approximately $1,751,000. Northwestern Mutual Wealth Management Co. grew its holdings in NewMarket by 4,647.9% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 5,555 shares of the specialty chemicals company’s stock worth $3,818,000 after purchasing an additional 5,438 shares during the last quarter. Pacer Advisors Inc. grew its holdings in NewMarket by 1,469.5% in the fourth quarter. Pacer Advisors Inc. now owns 30,636 shares of the specialty chemicals company’s stock worth $21,055,000 after purchasing an additional 28,684 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new position in shares of NewMarket during the second quarter worth $4,354,000. Finally, BlackRock Inc. acquired a new position in shares of NewMarket during the second quarter worth $556,339,000. Institutional investors own 61.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on NEU. Wall Street Zen raised NewMarket from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. Weiss Ratings raised NewMarket from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, June 12th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of “Buy”.

NewMarket Stock Performance

Shares of NYSE NEU opened at $885.25 on Friday. The company has a 50 day simple moving average of $856.51 and a two-hundred day simple moving average of $750.94. The stock has a market cap of $8.14 billion, a price-to-earnings ratio of 19.05 and a beta of 0.55. 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 for the quarter. The firm had revenue of $747.09 million for the quarter. NewMarket had a net margin of 15.80% and a return on equity of 24.62%.

NewMarket Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be paid a dividend of $3.00 per share. The ex-dividend date is Tuesday, September 15th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 1.4%. NewMarket’s dividend payout ratio (DPR) is presently 25.82%.

About NewMarket

NewMarket Corporation (NYSE: NEU) is a holding company that develops, manufactures and supplies specialty chemicals, primarily for the petroleum and related industries. Its products are designed to improve the performance, efficiency and durability of fuels, lubricants and other petroleum-based products.

NewMarket operates through its principal subsidiaries, including Afton Chemical Corporation and Ethyl Corporation. Afton Chemical develops and produces fuel and lubricant additives used in automotive, marine, aviation, commercial and industrial applications.