Allianz Asset Management GmbH Buys 523 Shares of NewMarket Corporation (NYSE:NEU)

Key Points

• Allianz Asset Management GmbH has increased its stake in NewMarket Corporation by 15.1%, owning 3,993 shares valued at approximately $2.26 million.
• Several institutional investors have raised their stakes in NewMarket, with notable increases from GAMMA Investing LLC by a staggering 54,160.0% in the first quarter.
• NewMarket Corporation's shares opened at $681.81, with a market capitalization of $6.43 billion, and a reported earnings per share of $11.84 for the latest quarter.

Allianz Asset Management GmbH grew its position in shares of NewMarket Corporation (NYSE:NEU - Free Report) by 15.1% in the first quarter, according to its most recent filing with the SEC. The fund owned 3,993 shares of the specialty chemicals company's stock after acquiring an additional 523 shares during the quarter. Allianz Asset Management GmbH's holdings in NewMarket were worth $2,262,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Gallacher Capital Management LLC grew its position in NewMarket by 77.4% in the first quarter. Gallacher Capital Management LLC now owns 1,196 shares of the specialty chemicals company's stock worth $678,000 after acquiring an additional 522 shares in the last quarter. Larson Financial Group LLC lifted its stake in shares of NewMarket by 23.6% in the 1st quarter. Larson Financial Group LLC now owns 613 shares of the specialty chemicals company's stock valued at $347,000 after purchasing an additional 117 shares during the last quarter. CWM LLC boosted its holdings in shares of NewMarket by 546.7% in the 1st quarter. CWM LLC now owns 291 shares of the specialty chemicals company's stock worth $165,000 after purchasing an additional 246 shares during the period. Cerity Partners LLC bought a new position in shares of NewMarket during the 1st quarter valued at approximately $293,000. Finally, Alps Advisors Inc. raised its holdings in NewMarket by 6.3% during the 1st quarter. Alps Advisors Inc. now owns 675 shares of the specialty chemicals company's stock valued at $382,000 after buying an additional 40 shares during the period. 61.09% of the stock is owned by hedge funds and other institutional investors.

NewMarket Trading Up 1.8%

NEU traded up $12.10 during trading on Friday, reaching $699.10. The company had a trading volume of 69,833 shares, compared to its average volume of 77,206. The company has a quick ratio of 1.60, a current ratio of 2.66 and a debt-to-equity ratio of 0.52. The business has a 50 day simple moving average of $685.20 and a 200-day simple moving average of $603.07. The stock has a market cap of $6.60 billion, a P/E ratio of 13.86 and a beta of 0.45. NewMarket Corporation has a 52 week low of $480.00 and a 52 week high of $743.52.

NewMarket (NYSE:NEU - Get Free Report) last released its earnings results on Wednesday, July 30th. The specialty chemicals company reported $11.84 earnings per share (EPS) for the quarter. NewMarket had a net margin of 17.28% and a return on equity of 32.25%. The firm had revenue of $698.51 million during the quarter.

Insider Activity

In other news, CAO Bruce R. Hazelgrove III sold 311 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $642.43, for a total transaction of $199,795.73. Following the transaction, the chief accounting officer owned 358 shares of the company's stock, valued at approximately $229,989.94. This represents a 46.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 19.10% of the stock is owned by company insiders.

About NewMarket

NewMarket Corporation, through its subsidiaries, primarily engages in the manufacture and sale of petroleum additives. The company offers lubricant additives for use in various vehicle and industrial applications, including engine oils, transmission fluids, off-road powertrain and hydraulic systems, gear oils, hydraulic oils, turbine oils, and other applications where metal-to-metal moving parts are utilized; engine oil additives designed for passenger cars, motorcycles, on and off-road heavy duty commercial equipment, locomotives, and engines in ocean-going vessels; driveline additives designed for products, such as transmission fluids, axle fluids, and off-road powertrain fluids; and industrial additives designed for products for industrial applications consisting of hydraulic fluids, grease, industrial gear fluids, and industrial specialty applications, such as turbine oils.