Teacher Retirement System of Texas Cuts Stock Position in NewMarket Co. (NYSE:NEU)

Teacher Retirement System of Texas decreased its stake in NewMarket Co. (NYSE:NEU) by 1.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,888 shares of the specialty chemicals company’s stock after selling 97 shares during the quarter. Teacher Retirement System of Texas’ holdings in NewMarket were worth $4,168,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of NEU. Empowered Funds LLC boosted its holdings in NewMarket by 19.1% in the 3rd quarter. Empowered Funds LLC now owns 924 shares of the specialty chemicals company’s stock worth $510,000 after buying an additional 148 shares during the last quarter. Mutual of America Capital Management LLC lifted its position in shares of NewMarket by 4.8% in the third quarter. Mutual of America Capital Management LLC now owns 4,147 shares of the specialty chemicals company’s stock valued at $2,289,000 after acquiring an additional 191 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake in shares of NewMarket by 8.0% in the third quarter. Thrivent Financial for Lutherans now owns 1,803 shares of the specialty chemicals company’s stock worth $995,000 after acquiring an additional 134 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in NewMarket by 10.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 78,746 shares of the specialty chemicals company’s stock valued at $43,459,000 after purchasing an additional 7,719 shares during the last quarter. Finally, Citigroup Inc. raised its stake in NewMarket by 51.2% in the 3rd quarter. Citigroup Inc. now owns 6,679 shares of the specialty chemicals company’s stock valued at $3,686,000 after purchasing an additional 2,262 shares during the last quarter. Hedge funds and other institutional investors own 61.09% of the company’s stock.

NewMarket Trading Up 2.5 %

NEU opened at $544.61 on Tuesday. The firm has a market capitalization of $5.17 billion, a price-to-earnings ratio of 11.30 and a beta of 0.41. The company’s 50 day simple moving average is $528.12 and its two-hundred day simple moving average is $532.98. NewMarket Co. has a 1-year low of $480.00 and a 1-year high of $638.21. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.75 and a quick ratio of 1.40.

NewMarket (NYSE:NEU) last announced its quarterly earnings data on Monday, February 3rd. The specialty chemicals company reported $11.56 EPS for the quarter. NewMarket had a return on equity of 35.48% and a net margin of 16.59%.

NewMarket Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 17th will be issued a $2.75 dividend. The ex-dividend date is Monday, March 17th. This represents a $11.00 dividend on an annualized basis and a dividend yield of 2.02%. This is a positive change from NewMarket’s previous quarterly dividend of $2.50. NewMarket’s dividend payout ratio is currently 22.82%.

Wall Street Analysts Forecast Growth

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

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.