Lazard Asset Management LLC cut its stake in shares of NewMarket Corporation (NYSE:NEU – Free Report) by 14.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,414 shares of the specialty chemicals company’s stock after selling 1,070 shares during the quarter. Lazard Asset Management LLC’s holdings in NewMarket were worth $4,111,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in the stock. Strs Ohio lifted its stake in shares of NewMarket by 12.7% in the first quarter. Strs Ohio now owns 151 shares of the specialty chemicals company’s stock valued at $97,000 after purchasing an additional 17 shares during the period. Kesler Norman & Wride LLC grew its position in NewMarket by 1.6% during the first quarter. Kesler Norman & Wride LLC now owns 1,227 shares of the specialty chemicals company’s stock worth $786,000 after buying an additional 19 shares during the period. Great Lakes Advisors LLC increased its holdings in NewMarket by 5.5% in the fourth quarter. Great Lakes Advisors LLC now owns 366 shares of the specialty chemicals company’s stock valued at $252,000 after buying an additional 19 shares in the last quarter. Abel Hall LLC increased its holdings in NewMarket by 6.3% in the fourth quarter. Abel Hall LLC now owns 335 shares of the specialty chemicals company’s stock valued at $230,000 after buying an additional 20 shares in the last quarter. Finally, Janney Montgomery Scott LLC lifted its position in shares of NewMarket by 4.1% during the 4th quarter. Janney Montgomery Scott LLC now owns 553 shares of the specialty chemicals company’s stock valued at $380,000 after acquiring an additional 22 shares during the period. Hedge funds and other institutional investors own 61.09% of the company’s stock.
Analyst Ratings Changes
NEU has been the topic of several research analyst reports. Weiss Ratings raised NewMarket from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, June 12th. Wall Street Zen raised NewMarket from a “hold” rating to a “buy” rating in a research note on Saturday. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy”.
NewMarket Stock Down 1.9%
Shares of NYSE NEU opened at $850.71 on Friday. The firm’s 50-day moving average is $787.49 and its two-hundred day moving average is $699.54. The company has a market capitalization of $7.83 billion, a PE ratio of 18.30 and a beta of 0.56. NewMarket Corporation has a 12-month low of $580.03 and a 12-month high of $876.33. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.25 and a quick ratio of 1.37.
NewMarket (NYSE:NEU – Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The specialty chemicals company reported $14.54 earnings per share for the quarter. NewMarket had a net margin of 15.80% and a return on equity of 24.62%. The business had revenue of $747.09 million during the quarter.
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.
Featured Stories
- Five stocks we like better than NewMarket
- Chevron’s Strong Quarter Shows Why It Still Leads the Energy Sector
- Amazon’s Earnings Beat Shows Why AWS Is Back at the Center of the Bull Case
- Apple’s Record Quarter Could Not Outrun Its Guidance Problem
- McKesson’s Compounding Keeps Adding Up
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:NEU – Free Report).
Receive News & Ratings for NewMarket Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NewMarket and related companies with MarketBeat.com's FREE daily email newsletter.
