Entropy Technologies LP Buys New Stake in NewMarket Corporation $NEU

Key Points

• Entropy Technologies LP acquired 2,732 NewMarket shares in the first quarter, worth approximately $1.75 million. Institutional investors and hedge funds collectively own 61.09% of the company.
• Weiss Ratings upgraded NewMarket from “hold” to “buy,” while MarketBeat reports an average analyst rating of “Buy.”
• NewMarket shares opened at $773.16, with a market capitalization of $7.11 billion, a P/E ratio of 17.66, and a 52-week trading range of $580.03 to $875.97.

Entropy Technologies LP bought a new position in NewMarket Corporation (NYSE:NEU - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 2,732 shares of the specialty chemicals company's stock, valued at approximately $1,751,000.

A number of other large investors have also added to or reduced their stakes in the company. Strs Ohio grew its stake in NewMarket by 12.7% during the 1st quarter. Strs Ohio now owns 151 shares of the specialty chemicals company's stock valued at $97,000 after purchasing an additional 17 shares in the last quarter. Kesler Norman & Wride LLC lifted its position in shares of NewMarket by 1.6% in the 1st quarter. Kesler Norman & Wride LLC now owns 1,227 shares of the specialty chemicals company's stock worth $786,000 after buying an additional 19 shares during the last quarter. Great Lakes Advisors LLC lifted its holdings in NewMarket by 5.5% in the fourth quarter. Great Lakes Advisors LLC now owns 366 shares of the specialty chemicals company's stock worth $252,000 after acquiring an additional 19 shares during the last quarter. Abel Hall LLC boosted its position in NewMarket by 6.3% during the 4th quarter. Abel Hall LLC now owns 335 shares of the specialty chemicals company's stock valued at $230,000 after purchasing an additional 20 shares during the period. Finally, Janney Montgomery Scott LLC boosted its holdings in shares of NewMarket by 4.1% during the fourth quarter. Janney Montgomery Scott LLC now owns 553 shares of the specialty chemicals company's stock valued at $380,000 after acquiring an additional 22 shares during the period. 61.09% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

NewMarket Price Performance

NYSE NEU opened at $773.16 on Tuesday. The business's fifty day moving average is $779.09 and its two-hundred day moving average is $696.38. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 2.55. The stock has a market capitalization of $7.11 billion, a P/E ratio of 17.66 and a beta of 0.56. NewMarket Corporation has a 1 year low of $580.03 and a 1 year high of $875.97.

About NewMarket

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.

Want to see what other hedge funds are holding NEU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NewMarket Corporation (NYSE:NEU - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.