State Street Corp Raises Stock Position in NewMarket Co. (NYSE:NEU)

State Street Corp increased its holdings in NewMarket Co. (NYSE:NEU - Free Report) by 4.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 229,372 shares of the specialty chemicals company's stock after acquiring an additional 8,979 shares during the quarter. State Street Corp owned about 2.39% of NewMarket worth $127,132,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Quadrature Capital Ltd purchased a new position in NewMarket during the third quarter valued at $408,000. Quantinno Capital Management LP increased its position in NewMarket by 3.0% during the third quarter. Quantinno Capital Management LP now owns 1,675 shares of the specialty chemicals company's stock valued at $924,000 after acquiring an additional 48 shares during the last quarter. Readystate Asset Management LP purchased a new stake in NewMarket during the third quarter valued at approximately $789,000. HighTower Advisors LLC raised its holdings in NewMarket by 7.7% in the 3rd quarter. HighTower Advisors LLC now owns 5,390 shares of the specialty chemicals company's stock worth $2,997,000 after purchasing an additional 385 shares during the period. Finally, ClearAlpha Technologies LP purchased a new position in shares of NewMarket during the 3rd quarter valued at about $299,000. 61.09% of the stock is currently owned by hedge funds and other institutional investors.

NewMarket Price Performance

NEU stock traded up $2.93 during trading on Friday, reaching $541.60. The company's stock had a trading volume of 32,104 shares, compared to its average volume of 34,808. The company's fifty day moving average is $537.02 and its 200-day moving average is $540.50. The company has a market capitalization of $5.20 billion, a P/E ratio of 12.03 and a beta of 0.50. NewMarket Co. has a 1 year low of $494.04 and a 1 year high of $650.00. The company has a quick ratio of 1.50, a current ratio of 2.83 and a debt-to-equity ratio of 0.80.

NewMarket (NYSE:NEU - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The specialty chemicals company reported $13.79 EPS for the quarter. NewMarket had a return on equity of 35.79% and a net margin of 15.57%. The company had revenue of $724.95 million for the quarter.

NewMarket Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 16th will be paid a dividend of $2.50 per share. This represents a $10.00 annualized dividend and a yield of 1.85%. The ex-dividend date is Monday, December 16th. NewMarket's payout ratio is 22.21%.

About NewMarket

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.