NewMarket Co. (NYSE:NEU) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund trimmed its position in NewMarket Co. (NYSE:NEU - Free Report) by 27.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,494 shares of the specialty chemicals company's stock after selling 11,100 shares during the quarter. New York State Common Retirement Fund owned approximately 0.31% of NewMarket worth $15,583,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in NEU. Kestra Investment Management LLC lifted its position in shares of NewMarket by 38.7% in the 4th quarter. Kestra Investment Management LLC now owns 1,461 shares of the specialty chemicals company's stock worth $772,000 after buying an additional 408 shares during the last quarter. Venturi Wealth Management LLC boosted its position in NewMarket by 0.8% during the 4th quarter. Venturi Wealth Management LLC now owns 8,246 shares of the specialty chemicals company's stock valued at $4,357,000 after purchasing an additional 64 shares during the period. Sanctuary Advisors LLC boosted its position in NewMarket by 5.1% during the 4th quarter. Sanctuary Advisors LLC now owns 851 shares of the specialty chemicals company's stock valued at $426,000 after purchasing an additional 41 shares during the period. State of New Jersey Common Pension Fund D grew its stake in NewMarket by 10.2% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 3,926 shares of the specialty chemicals company's stock worth $2,074,000 after buying an additional 365 shares during the last quarter. Finally, Principal Securities Inc. increased its position in NewMarket by 10.9% in the fourth quarter. Principal Securities Inc. now owns 357 shares of the specialty chemicals company's stock worth $189,000 after buying an additional 35 shares during the period. 61.09% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of NewMarket from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, February 19th.

NewMarket Stock Performance

NYSE NEU traded up $0.56 on Thursday, hitting $563.14. The stock had a trading volume of 31,213 shares, compared to its average volume of 36,082. The company's 50-day moving average is $517.11 and its two-hundred day moving average is $534.55. The stock has a market cap of $5.36 billion, a price-to-earnings ratio of 11.68 and a beta of 0.48. The company has a quick ratio of 1.40, a current ratio of 2.75 and a debt-to-equity ratio of 0.66. NewMarket Co. has a one year low of $480.00 and a one year high of $650.00.

NewMarket (NYSE:NEU - Get Free Report) last announced its earnings results on Monday, February 3rd. The specialty chemicals company reported $11.56 earnings per share for the quarter. NewMarket had a return on equity of 35.48% and a net margin of 16.59%.

NewMarket Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 17th will be given a $2.75 dividend. This represents a $11.00 dividend on an annualized basis and a yield of 1.95%. This is a positive change from NewMarket's previous quarterly dividend of $2.50. NewMarket's dividend payout ratio is currently 20.74%.

NewMarket 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.