7,138 Shares in NewMarket Co. (NYSE:NEU) Acquired by Alaska Permanent Fund Corp

Alaska Permanent Fund Corp bought a new position in shares of NewMarket Co. (NYSE:NEU) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 7,138 shares of the specialty chemicals company’s stock, valued at approximately $3,896,000.

A number of other large investors have also recently bought and sold shares of the business. Yousif Capital Management LLC grew its stake in NewMarket by 3.5% during the fourth quarter. Yousif Capital Management LLC now owns 3,292 shares of the specialty chemicals company’s stock worth $1,797,000 after buying an additional 111 shares during the last quarter. GAMMA Investing LLC bought a new stake in NewMarket during the fourth quarter worth about $50,000. New York State Common Retirement Fund grew its stake in NewMarket by 12.1% during the fourth quarter. New York State Common Retirement Fund now owns 41,896 shares of the specialty chemicals company’s stock worth $22,868,000 after buying an additional 4,518 shares during the last quarter. 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 during the last quarter. Finally, Federated Hermes Inc. grew its stake in NewMarket by 11.4% during the fourth quarter. Federated Hermes Inc. now owns 1,390 shares of the specialty chemicals company’s stock worth $759,000 after buying an additional 142 shares during the last quarter. 61.09% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

NewMarket Price Performance

Shares of NEU traded down $3.35 during mid-day trading on Wednesday, hitting $583.25. 46,870 shares of the company traded hands, compared to its average volume of 43,119. NewMarket Co. has a one year low of $362.16 and a one year high of $650.00. The company has a current ratio of 2.85, a quick ratio of 1.60 and a debt-to-equity ratio of 0.60. The business has a 50-day moving average of $615.47 and a 200 day moving average of $560.67. The stock has a market capitalization of $5.59 billion, a price-to-earnings ratio of 14.57 and a beta of 0.45.

NewMarket (NYSE:NEU) last posted its earnings results on Wednesday, January 31st. The specialty chemicals company reported $8.38 earnings per share for the quarter. NewMarket had a net margin of 14.41% and a return on equity of 41.33%. The company had revenue of $643.35 million for the quarter.

NewMarket Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were given a $2.50 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $10.00 dividend on an annualized basis and a yield of 1.71%. This is an increase from NewMarket’s previous quarterly dividend of $2.25. NewMarket’s dividend payout ratio (DPR) is 24.73%.

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.