Louisiana State Employees Retirement System Makes New $1.47 Million Investment in NewMarket Corporation $NEU

Louisiana State Employees Retirement System bought a new position in NewMarket Corporation (NYSE:NEU) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,300 shares of the specialty chemicals company’s stock, valued at approximately $1,474,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Silver Oak Securities Incorporated lifted its stake in NewMarket by 2.9% in the 1st quarter. Silver Oak Securities Incorporated now owns 1,063 shares of the specialty chemicals company’s stock valued at $681,000 after purchasing an additional 30 shares during the last quarter. Ritholtz Wealth Management grew its stake in shares of NewMarket by 42.5% during the first quarter. Ritholtz Wealth Management now owns 4,363 shares of the specialty chemicals company’s stock worth $2,796,000 after buying an additional 1,302 shares during the last quarter. J. Derek Lewis & Associates Inc. bought a new stake in shares of NewMarket during the fourth quarter worth $220,000. Rockefeller Capital Management L.P. increased its holdings in shares of NewMarket by 113.7% during the fourth quarter. Rockefeller Capital Management L.P. now owns 156 shares of the specialty chemicals company’s stock worth $108,000 after buying an additional 83 shares in the last quarter. Finally, Corient Private Wealth LLC increased its holdings in shares of NewMarket by 57.6% during the fourth quarter. Corient Private Wealth LLC now owns 1,522 shares of the specialty chemicals company’s stock worth $1,046,000 after buying an additional 556 shares in the last quarter. 61.09% of the stock is owned by institutional investors.

NewMarket Price Performance

NEU stock opened at $787.05 on Friday. The company has a fifty day moving average price of $748.98 and a 200-day moving average price of $688.89. The company has a market capitalization of $7.24 billion, a P/E ratio of 17.98 and a beta of 0.56. NewMarket Corporation has a 52-week low of $580.03 and a 52-week high of $875.97. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 2.55.

NewMarket (NYSE:NEU) last issued its quarterly earnings data on Wednesday, April 22nd. The specialty chemicals company reported $12.62 earnings per share for the quarter. The company had revenue of $669.72 million for the quarter. NewMarket had a net margin of 15.25% and a return on equity of 24.12%.

NewMarket Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th were given a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Monday, June 15th. NewMarket’s payout ratio is 27.41%.

Analysts Set New Price Targets

Separately, Weiss Ratings raised NewMarket from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, June 12th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, NewMarket presently has a consensus rating of “Buy”.

NewMarket Profile

NewMarket Corporation is a specialty chemicals and lubricants company headquartered in Richmond, Virginia. Through its Valvoline business, the company markets a broad portfolio of automotive aftermarket products, including engine oils, transmission fluids, greases and vehicle care solutions. Valvoline products are distributed through retail and commercial channels as well as a network of quick-lube service centers that provide oil changes, preventive maintenance and related services.

In its chemical additives segment, NewMarket develops, manufactures and sells performance additives for fuels, lubricants and industrial fluids.