Alaska Permanent Fund Corp Invests $3.90 Million in NewMarket Co. (NYSE:NEU)

Alaska Permanent Fund Corp acquired a new position in shares of NewMarket Co. (NYSE:NEU) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 7,138 shares of the specialty chemicals company’s stock, valued at approximately $3,896,000. Alaska Permanent Fund Corp owned 0.07% of NewMarket at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of NEU. Ronald Blue Trust Inc. purchased a new position in NewMarket in the third quarter valued at $27,000. Ritholtz Wealth Management purchased a new position in shares of NewMarket during the third quarter worth about $206,000. SG Americas Securities LLC grew its holdings in shares of NewMarket by 272.6% during the third quarter. SG Americas Securities LLC now owns 2,929 shares of the specialty chemicals company’s stock worth $1,333,000 after purchasing an additional 2,143 shares during the last quarter. UMB Bank n.a. acquired a new stake in shares of NewMarket during the third quarter worth about $47,000. Finally, Commonwealth Equity Services LLC lifted its position in shares of NewMarket by 7.5% during the 3rd quarter. Commonwealth Equity Services LLC now owns 1,995 shares of the specialty chemicals company’s stock valued at $908,000 after acquiring an additional 139 shares during the period. Hedge funds and other institutional investors own 61.09% of the company’s stock.

NewMarket Stock Performance

Shares of NYSE:NEU traded down $3.35 during trading on Wednesday, reaching $583.25. 46,870 shares of the company’s stock traded hands, compared to its average volume of 43,119. The company has a 50 day moving average of $615.47 and a 200-day moving average of $560.67. The stock has a market capitalization of $5.59 billion, a P/E ratio of 14.57 and a beta of 0.45. NewMarket Co. has a 12 month low of $362.16 and a 12 month high of $650.00. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.85 and a quick ratio of 1.60.

NewMarket (NYSE:NEU) last announced its quarterly earnings results on Wednesday, January 31st. The specialty chemicals company reported $8.38 EPS for the quarter. NewMarket had a net margin of 14.41% and a return on equity of 41.33%. The company had revenue of $643.35 million for the quarter.

NewMarket Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were paid a dividend of $2.50 per share. This is a positive change from NewMarket’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $10.00 annualized dividend and a yield of 1.71%. NewMarket’s dividend payout ratio (DPR) is presently 24.73%.

Analyst Ratings Changes

Separately, StockNews.com cut shares of NewMarket from a “strong-buy” rating to a “buy” rating in a research note on Sunday, February 4th.

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.