Principal Financial Group Inc. grew its position in NewMarket Corporation (NYSE:NEU – Free Report) by 3.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,363 shares of the specialty chemicals company’s stock after acquiring an additional 643 shares during the quarter. Principal Financial Group Inc. owned 0.19% of NewMarket worth $11,129,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of the company. Los Angeles Capital Management LLC acquired a new position in shares of NewMarket in the fourth quarter valued at $25,000. International Assets Investment Management LLC acquired a new stake in NewMarket during the fourth quarter worth $27,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in NewMarket by 100.0% in the 1st 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 period. Towarzystwo Funduszy Inwestycyjnych PZU SA increased its holdings in NewMarket by 50.0% in the 4th 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 period. Finally, Quarry LP acquired a new position in shares of NewMarket in the 3rd quarter valued at $52,000. Institutional investors and hedge funds own 61.09% of the company’s stock.
NewMarket Trading Up 1.3%
Shares of NEU opened at $779.99 on Friday. The company has a current ratio of 2.55, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. The stock has a market cap of $7.18 billion, a PE ratio of 17.82 and a beta of 0.56. NewMarket Corporation has a 1 year low of $580.03 and a 1 year high of $875.97. The stock has a 50 day simple moving average of $777.63 and a 200-day simple moving average of $696.02.
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 report on Friday, June 12th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy”.
Check Out Our Latest Stock Analysis on NEU
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.
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