California State Teachers Retirement System Purchases 1,760 Shares of NewMarket Corporation $NEU

Key Points

• California State Teachers Retirement System increased its NewMarket stake by 23.6% in the first quarter, buying 1,760 shares to own 9,210 shares valued at approximately $5.9 million. Institutional investors collectively own 61.09% of the company.
• NewMarket reported quarterly earnings of $14.54 per share on revenue of $747.09 million, with a 15.80% net margin and 24.62% return on equity.
• NEU shares opened at $880.53, near their 52-week high of $900.87. Analysts cited in the article upgraded the stock to “Buy,” giving NewMarket a consensus “Buy” rating.

California State Teachers Retirement System grew its holdings in NewMarket Corporation (NYSE:NEU - Free Report) by 23.6% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,210 shares of the specialty chemicals company's stock after buying an additional 1,760 shares during the quarter. California State Teachers Retirement System owned 0.10% of NewMarket worth $5,903,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NEU. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted 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 purchasing an additional 39 shares in the last quarter. NewEdge Advisors LLC raised its holdings in shares of NewMarket by 1,442.4% in the 1st quarter. NewEdge Advisors LLC now owns 509 shares of the specialty chemicals company's stock worth $288,000 after buying an additional 476 shares in the last quarter. United Services Automobile Association bought a new position in shares of NewMarket during the 1st quarter worth approximately $266,000. Empowered Funds LLC lifted its position in shares of NewMarket by 4.8% during the 1st quarter. Empowered Funds LLC now owns 1,562 shares of the specialty chemicals company's stock worth $885,000 after buying an additional 72 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in NewMarket by 9.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 22,268 shares of the specialty chemicals company's stock valued at $12,614,000 after buying an additional 1,995 shares in the last quarter. 61.09% of the stock is owned by institutional investors.

NewMarket Stock Performance

Shares of NYSE:NEU opened at $880.53 on Thursday. The company has a current ratio of 2.25, a quick ratio of 1.23 and a debt-to-equity ratio of 0.47. NewMarket Corporation has a 1-year low of $580.03 and a 1-year high of $900.87. The stock has a market capitalization of $8.10 billion, a P/E ratio of 18.94 and a beta of 0.56. The business has a 50-day moving average price of $794.34 and a two-hundred day moving average price of $703.28.

NewMarket (NYSE:NEU - Get Free Report) last released its earnings results on Wednesday, July 29th. The specialty chemicals company reported $14.54 EPS for the quarter. The firm had revenue of $747.09 million during the quarter. NewMarket had a net margin of 15.80% and a return on equity of 24.62%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on NEU. Weiss Ratings upgraded NewMarket from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, June 12th. Wall Street Zen upgraded shares of NewMarket from a "hold" rating to a "buy" rating in a research note on Saturday, August 1st. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company has a consensus rating of "Buy".

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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