NewMarket Corporation $NEU Stock Position Lifted by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund grew its holdings in shares of NewMarket Corporation (NYSE:NEU) by 60.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,084 shares of the specialty chemicals company’s stock after purchasing an additional 4,180 shares during the period. Illinois Municipal Retirement Fund owned approximately 0.12% of NewMarket worth $7,104,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of NEU. Ethos Financial Group LLC grew its position in NewMarket by 52.5% in the 1st quarter. Ethos Financial Group LLC now owns 1,072 shares of the specialty chemicals company’s stock valued at $690,000 after buying an additional 369 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of NewMarket by 3.8% during the 1st quarter. Principal Financial Group Inc. now owns 17,363 shares of the specialty chemicals company’s stock worth $11,129,000 after buying an additional 643 shares in the last quarter. Fifth Third Bancorp lifted its stake in shares of NewMarket by 2,932.4% in the 1st quarter. Fifth Third Bancorp now owns 2,153 shares of the specialty chemicals company’s stock worth $1,380,000 after acquiring an additional 2,082 shares during the period. Childress Capital Advisors LLC acquired a new stake in shares of NewMarket in the 1st quarter worth approximately $350,000. Finally, QRG Capital Management Inc. boosted its holdings in shares of NewMarket by 324.4% in the first quarter. QRG Capital Management Inc. now owns 2,504 shares of the specialty chemicals company’s stock valued at $1,605,000 after acquiring an additional 1,914 shares in the last quarter. 61.09% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded shares of NewMarket from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, June 12th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy”.

NewMarket Trading Down 0.1%

Shares of NEU stock opened at $770.83 on Friday. The stock has a 50-day simple moving average of $768.92 and a 200 day simple moving average of $693.13. NewMarket Corporation has a fifty-two week low of $580.03 and a fifty-two week high of $875.97. The stock has a market capitalization of $7.09 billion, a P/E ratio of 17.61 and a beta of 0.56. The company has a quick ratio of 1.37, a current ratio of 2.55 and a debt-to-equity ratio of 0.54.

NewMarket (NYSE:NEU) last issued its quarterly earnings results on Wednesday, April 22nd. The specialty chemicals company reported $12.62 EPS for the quarter. NewMarket had a net margin of 15.25% and a return on equity of 24.12%. The firm had revenue of $669.72 million for the quarter.

NewMarket Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th were paid a $3.00 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $12.00 annualized dividend and a dividend yield of 1.6%. NewMarket’s payout ratio is currently 27.41%.

About NewMarket

NewMarket Corporation is a specialty chemicals and lubricants company headquartered in Richmond, Virginia. Through its Valvoline business, the company markets a broad portfolio of automotive aftermarket products, including engine oils, transmission fluids, greases and vehicle care solutions. Valvoline products are distributed through retail and commercial channels as well as a network of quick-lube service centers that provide oil changes, preventive maintenance and related services.

In its chemical additives segment, NewMarket develops, manufactures and sells performance additives for fuels, lubricants and industrial fluids.