Vanguard Group Inc. Sells 6,413 Shares of NewMarket Corporation $NEU

Vanguard Group Inc. reduced its stake in NewMarket Corporation (NYSE:NEU) by 0.8% during the third quarter, according to its most recent filing with the SEC. The fund owned 812,985 shares of the specialty chemicals company’s stock after selling 6,413 shares during the quarter. Vanguard Group Inc. owned 0.09% of NewMarket worth $673,322,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Envestnet Asset Management Inc. boosted its stake in NewMarket by 3.1% in the third quarter. Envestnet Asset Management Inc. now owns 39,452 shares of the specialty chemicals company’s stock valued at $32,675,000 after acquiring an additional 1,192 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in NewMarket by 151.3% in the third quarter. Nisa Investment Advisors LLC now owns 4,118 shares of the specialty chemicals company’s stock valued at $3,416,000 after purchasing an additional 2,479 shares during the last quarter. Monument Capital Management bought a new position in NewMarket during the third quarter valued at $2,548,000. Advisors Asset Management Inc. increased its position in NewMarket by 221.5% in the third quarter. Advisors Asset Management Inc. now owns 2,662 shares of the specialty chemicals company’s stock worth $2,205,000 after buying an additional 1,834 shares during the last quarter. Finally, AlphaQuest LLC increased its position in NewMarket by 65,800.0% in the second quarter. AlphaQuest LLC now owns 659 shares of the specialty chemicals company’s stock worth $455,000 after buying an additional 658 shares during the last quarter. Hedge funds and other institutional investors own 61.09% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings cut NewMarket from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, February 13th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company has an average rating of “Hold”.

NewMarket Stock Down 1.4%

NewMarket stock opened at $601.85 on Tuesday. The firm has a 50 day simple moving average of $677.57 and a 200 day simple moving average of $749.27. The company has a current ratio of 2.53, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. NewMarket Corporation has a 1-year low of $510.07 and a 1-year high of $875.97. The firm has a market capitalization of $5.66 billion, a price-to-earnings ratio of 13.55 and a beta of 0.48.

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

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.