Weiss Asset Management LP purchased a new stake in shares of NewMarket Corporation (NYSE:NEU – Free 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.
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
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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