Caxton Associates LLP Has $1.44 Million Position in NewMarket Corporation $NEU

Key Points

• Caxton Associates LLP increased its stake in NewMarket Corporation by 180.8% in the first quarter, ending with 2,246 shares valued at about $1.44 million.
• Institutional ownership in NewMarket remains high, with hedge funds and other investors holding about 61.09% of the company’s shares.
• NewMarket reported solid results in its latest quarterly earnings, including $12.62 EPS and $669.72 million in revenue, while Weiss Ratings recently upgraded the stock to buy.

Caxton Associates LLP boosted its holdings in NewMarket Corporation (NYSE:NEU - Free Report) by 180.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,246 shares of the specialty chemicals company's stock after acquiring an additional 1,446 shares during the period. Caxton Associates LLP's holdings in NewMarket were worth $1,440,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Los Angeles Capital Management LLC acquired a new position in shares of NewMarket in the fourth quarter valued at $25,000. International Assets Investment Management LLC bought a new position in shares of NewMarket in the fourth quarter valued at about $27,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of NewMarket by 100.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78 shares of the specialty chemicals company's stock worth $44,000 after buying an additional 39 shares during the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA lifted its stake in shares of NewMarket by 50.0% during the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 75 shares of the specialty chemicals company's stock worth $52,000 after buying an additional 25 shares during the last quarter. Finally, Quarry LP bought a new stake in shares of NewMarket during the 3rd quarter worth about $52,000. Institutional investors and hedge funds own 61.09% of the company's stock.

NewMarket Stock Performance

NYSE:NEU opened at $779.99 on Friday. The stock has a 50 day simple moving average of $777.63 and a 200 day simple moving average of $696.02. The stock has a market cap of $7.18 billion, a P/E ratio of 17.82 and a beta of 0.56. NewMarket Corporation has a 1-year low of $580.03 and a 1-year high of $875.97. The company has a current ratio of 2.55, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54.

NewMarket (NYSE:NEU - Get Free Report) last issued its quarterly earnings data on Wednesday, April 22nd. The specialty chemicals company reported $12.62 EPS for the quarter. The firm had revenue of $669.72 million for the quarter. NewMarket had a return on equity of 24.12% and a net margin of 15.25%.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded shares of NewMarket from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, June 12th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of "Buy".

NewMarket 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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