Vestcor Inc Has $8.05 Million Stake in NewMarket Co. (NYSE:NEU)

Vestcor Inc decreased its holdings in NewMarket Co. (NYSE:NEU) by 6.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 15,241 shares of the specialty chemicals company’s stock after selling 1,034 shares during the period. Vestcor Inc’s holdings in NewMarket were worth $8,053,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Natixis Advisors LLC increased its holdings in shares of NewMarket by 19.4% in the 3rd quarter. Natixis Advisors LLC now owns 17,254 shares of the specialty chemicals company’s stock valued at $9,522,000 after purchasing an additional 2,807 shares during the period. Barclays PLC increased its holdings in shares of NewMarket by 34.5% in the 3rd quarter. Barclays PLC now owns 4,813 shares of the specialty chemicals company’s stock valued at $2,656,000 after purchasing an additional 1,235 shares during the period. Janney Montgomery Scott LLC acquired a new position in shares of NewMarket in the 4th quarter valued at about $252,000. Empowered Funds LLC grew its stake in shares of NewMarket by 61.3% in the 4th quarter. Empowered Funds LLC now owns 1,490 shares of the specialty chemicals company’s stock valued at $787,000 after buying an additional 566 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in NewMarket by 1.4% during the third quarter. JPMorgan Chase & Co. now owns 50,585 shares of the specialty chemicals company’s stock valued at $27,917,000 after acquiring an additional 722 shares in the last quarter. Institutional investors and hedge funds own 61.09% of the company’s stock.

NewMarket Price Performance

Shares of NEU opened at $523.69 on Thursday. The firm has a market cap of $4.99 billion, a PE ratio of 10.86 and a beta of 0.41. The firm’s 50 day moving average price is $521.99 and its 200 day moving average price is $534.64. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.40 and a current ratio of 2.75. NewMarket Co. has a twelve month low of $480.00 and a twelve month high of $638.21.

NewMarket (NYSE:NEU) last announced its quarterly earnings results 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 business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 17th will be issued a dividend of $2.75 per share. This represents a $11.00 annualized dividend and a yield of 2.10%. The ex-dividend date of this dividend is Monday, March 17th. This is an increase from NewMarket’s previous quarterly dividend of $2.50. NewMarket’s dividend payout ratio (DPR) is 22.82%.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of NewMarket from a “strong-buy” rating to a “buy” rating in a research 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.