Illinois Municipal Retirement Fund Purchases New Position in NewMarket Corporation $NEU

Illinois Municipal Retirement Fund acquired a new stake in NewMarket Corporation (NYSE:NEU) in the 3rd quarter, HoldingsChannel.com reports. The fund acquired 3,489 shares of the specialty chemicals company’s stock, valued at approximately $2,890,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Sequoia Financial Advisors LLC bought a new stake in shares of NewMarket in the second quarter worth $331,000. Envestnet Asset Management Inc. lifted its holdings in NewMarket by 3.1% during the 3rd quarter. Envestnet Asset Management Inc. now owns 39,452 shares of the specialty chemicals company’s stock worth $32,675,000 after buying an additional 1,192 shares during the period. Nisa Investment Advisors LLC lifted its holdings in NewMarket by 151.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 4,118 shares of the specialty chemicals company’s stock worth $3,416,000 after buying an additional 2,479 shares during the period. Monument Capital Management bought a new stake in shares of NewMarket in the 3rd quarter valued at about $2,548,000. Finally, AlphaQuest LLC increased its stake in shares of NewMarket by 65,800.0% in the second quarter. AlphaQuest LLC now owns 659 shares of the specialty chemicals company’s stock valued at $455,000 after buying an additional 658 shares during the period. Institutional investors and hedge funds own 61.09% of the company’s stock.

NewMarket Stock Performance

NEU stock opened at $592.39 on Monday. The firm has a market cap of $5.57 billion, a PE ratio of 13.34 and a beta of 0.48. The company has a current ratio of 2.53, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. The stock has a 50-day moving average price of $696.02 and a 200-day moving average price of $753.68. NewMarket Corporation has a 1-year low of $510.07 and a 1-year high of $875.97.

NewMarket (NYSE:NEU) last issued its earnings results on Wednesday, February 11th. The specialty chemicals company reported $8.65 earnings per share for the quarter. NewMarket had a return on equity of 25.38% and a net margin of 15.37%.The business had revenue of $635.40 million during the quarter.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered NewMarket from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has an average rating of “Hold”.

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.