Weiss Asset Management LP Makes New $13.46 Million Investment in NewMarket Corporation $NEU

Weiss Asset Management LP purchased a new stake in shares of NewMarket Corporation (NYSE:NEUFree Report) in the first quarter, HoldingsChannel reports. The institutional investor purchased 21,001 shares of the specialty chemicals company’s stock, valued at approximately $13,461,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Los Angeles Capital Management LLC bought a new position in shares of NewMarket in the 4th quarter worth approximately $25,000. International Assets Investment Management LLC bought a new stake in NewMarket during the fourth quarter valued at approximately $27,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in NewMarket by 100.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78 shares of the specialty chemicals company’s stock valued at $44,000 after buying an additional 39 shares during the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA increased its holdings in NewMarket by 50.0% during the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 75 shares of the specialty chemicals company’s stock valued at $52,000 after buying an additional 25 shares during the last quarter. Finally, Quarry LP bought a new position in NewMarket in the third quarter worth approximately $52,000. Hedge funds and other institutional investors own 61.09% of the company’s stock.

NewMarket Stock Up 1.3%

NYSE NEU opened at $779.99 on Friday. NewMarket Corporation has a 52 week low of $580.03 and a 52 week high of $875.97. The company has a quick ratio of 1.37, a current ratio of 2.55 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $7.18 billion, a P/E ratio of 17.82 and a beta of 0.56. The stock’s 50-day moving average price is $777.63 and its 200-day moving average price is $696.02.

NewMarket (NYSE:NEUGet Free Report) last announced its quarterly earnings data on Wednesday, April 22nd. The specialty chemicals company reported $12.62 earnings per share (EPS) for the quarter. The company had revenue of $669.72 million during the quarter. NewMarket had a return on equity of 24.12% and a net margin of 15.25%.

Analysts Set New Price Targets

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 equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of “Buy”.

Get Our Latest Stock Report on NEU

NewMarket Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding NEU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NewMarket Corporation (NYSE:NEUFree Report).

Institutional Ownership by Quarter for NewMarket (NYSE:NEU)

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