State of New Jersey Common Pension Fund D Has $1.83 Million Stock Position in NewMarket Co. (NYSE:NEU)

State of New Jersey Common Pension Fund D lowered its position in shares of NewMarket Co. (NYSE:NEU) by 26.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,549 shares of the specialty chemicals company’s stock after selling 1,275 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in NewMarket were worth $1,830,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. BNP Paribas Financial Markets boosted its position in shares of NewMarket by 86.1% in the fourth quarter. BNP Paribas Financial Markets now owns 908 shares of the specialty chemicals company’s stock worth $496,000 after buying an additional 420 shares during the period. Vanguard Personalized Indexing Management LLC purchased a new position in NewMarket during the 4th quarter valued at about $330,000. Norges Bank acquired a new position in shares of NewMarket in the 4th quarter valued at about $37,659,000. Franklin Resources Inc. lifted its position in shares of NewMarket by 10.9% in the fourth quarter. Franklin Resources Inc. now owns 3,068 shares of the specialty chemicals company’s stock worth $1,675,000 after purchasing an additional 301 shares in the last quarter. Finally, Parallel Advisors LLC lifted its position in shares of NewMarket by 9.4% in the fourth quarter. Parallel Advisors LLC now owns 617 shares of the specialty chemicals company’s stock worth $337,000 after purchasing an additional 53 shares in the last quarter. Hedge funds and other institutional investors own 61.09% of the company’s stock.

Insiders Place Their Bets

In other NewMarket news, CAO Bruce R. Hazelgrove III sold 1,270 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $544.31, for a total value of $691,273.70. Following the completion of the sale, the chief accounting officer now owns 358 shares of the company’s stock, valued at $194,862.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 20.40% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of NewMarket from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 6th.

NewMarket Price Performance

Shares of NYSE:NEU opened at $553.46 on Tuesday. The firm has a market cap of $5.31 billion, a price-to-earnings ratio of 13.31 and a beta of 0.50. NewMarket Co. has a 1 year low of $436.90 and a 1 year high of $650.00. The company has a current ratio of 2.66, a quick ratio of 1.48 and a debt-to-equity ratio of 0.95. The business has a fifty day simple moving average of $553.24 and a 200 day simple moving average of $559.43.

NewMarket (NYSE:NEU) last released its quarterly earnings data on Monday, July 29th. The specialty chemicals company reported $11.63 earnings per share (EPS) for the quarter. NewMarket had a return on equity of 37.06% and a net margin of 15.12%. The firm had revenue of $710.23 million during the quarter.

NewMarket Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 16th will be given a $2.50 dividend. The ex-dividend date is Monday, September 16th. This represents a $10.00 dividend on an annualized basis and a dividend yield of 1.81%. NewMarket’s dividend payout ratio is currently 24.06%.

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.