Empowered Funds LLC Raises Holdings in NewMarket Corporation $NEU

Key Points

• Empowered Funds LLC increased its NewMarket position by 718.7% in the first quarter, holding 3,553 shares valued at approximately $2.28 million. Hedge funds and institutional investors collectively own 61.09% of NEU.
• Analyst sentiment improved, with Weiss Ratings and Wall Street Zen upgrading NewMarket to “buy.” MarketBeat data shows the stock has an overall average rating of “Buy.”
• NewMarket shares opened at $880.53, near their 52-week high of $900.87, while the company recently reported quarterly revenue of $747.09 million and earnings of $14.54 per share.

Empowered Funds LLC lifted its position in NewMarket Corporation (NYSE:NEU - Free Report) by 718.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,553 shares of the specialty chemicals company's stock after purchasing an additional 3,119 shares during the quarter. Empowered Funds LLC's holdings in NewMarket were worth $2,277,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in NEU. Entropy Technologies LP purchased a new stake in shares of NewMarket during the 1st quarter valued at about $1,751,000. Robeco Institutional Asset Management B.V. grew its position in NewMarket by 28.3% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 16,087 shares of the specialty chemicals company's stock worth $11,056,000 after acquiring an additional 3,550 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in NewMarket by 4,647.9% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 5,555 shares of the specialty chemicals company's stock worth $3,818,000 after acquiring an additional 5,438 shares during the last quarter. Pacer Advisors Inc. increased its stake in NewMarket by 1,469.5% during the fourth quarter. Pacer Advisors Inc. now owns 30,636 shares of the specialty chemicals company's stock worth $21,055,000 after acquiring an additional 28,684 shares during the last quarter. Finally, Oak Thistle LLC purchased a new stake in NewMarket during the fourth quarter valued at approximately $1,838,000. 61.09% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NEU has been the subject of several analyst reports. Weiss Ratings raised NewMarket from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, June 12th. Wall Street Zen upgraded NewMarket from a "hold" rating to a "buy" rating in a report on Saturday, August 1st. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of "Buy".

NewMarket Trading Down 1.0%

NYSE NEU opened at $880.53 on Thursday. NewMarket Corporation has a one year low of $580.03 and a one year high of $900.87. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.23 and a current ratio of 2.25. The company has a market capitalization of $8.10 billion, a price-to-earnings ratio of 18.94 and a beta of 0.56. The company's 50-day simple moving average is $794.34 and its two-hundred day simple moving average is $703.28.

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

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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