Quantinno Capital Management LP cut its position in shares of NewMarket Corporation (NYSE:NEU – Free Report) by 46.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,581 shares of the specialty chemicals company’s stock after selling 9,152 shares during the quarter. Quantinno Capital Management LP’s holdings in NewMarket were worth $6,782,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its position in NewMarket by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 828,798 shares of the specialty chemicals company’s stock worth $569,600,000 after acquiring an additional 15,813 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in NewMarket by 6.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 194,507 shares of the specialty chemicals company’s stock valued at $124,658,000 after acquiring an additional 12,172 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of NewMarket by 5.4% during the 4th quarter. Geode Capital Management LLC now owns 175,649 shares of the specialty chemicals company’s stock worth $120,737,000 after purchasing an additional 8,978 shares during the period. AQR Capital Management LLC lifted its stake in shares of NewMarket by 196.7% during the 3rd quarter. AQR Capital Management LLC now owns 137,943 shares of the specialty chemicals company’s stock worth $114,246,000 after purchasing an additional 91,458 shares during the period. Finally, Caisse de depot et placement du Quebec boosted its holdings in shares of NewMarket by 16.9% during the fourth quarter. Caisse de depot et placement du Quebec now owns 116,002 shares of the specialty chemicals company’s stock worth $79,724,000 after purchasing an additional 16,746 shares during the last quarter. Institutional investors and hedge funds own 61.09% of the company’s stock.
Analysts Set New Price Targets
A number of equities research analysts have recently commented on NEU shares. Weiss Ratings raised NewMarket from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, June 12th. Wall Street Zen upgraded NewMarket from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, NewMarket currently has a consensus rating of “Buy”.
NewMarket Stock Performance
Shares of NYSE:NEU opened at $880.53 on Thursday. The business’s 50-day simple moving average is $794.34 and its 200 day simple moving average is $703.28. The company has a market cap of $8.10 billion, a P/E ratio of 18.94 and a beta of 0.56. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.23 and a current ratio of 2.25. NewMarket Corporation has a one year low of $580.03 and a one year high of $900.87.
NewMarket (NYSE:NEU – Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The specialty chemicals company reported $14.54 earnings per share for the quarter. NewMarket had a return on equity of 24.62% and a net margin of 15.80%.The firm had revenue of $747.09 million during the quarter.
NewMarket Company Profile
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.
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