Fifth Third Bancorp Purchases 2,082 Shares of NewMarket Corporation $NEU

Key Points

• Fifth Third Bancorp increased its stake in NewMarket by 2,932.4% in the first quarter, buying 2,082 additional shares and bringing its total holding to 2,153 shares valued at about $1.38 million.
• NewMarket shares were up 1.3% in Friday trading, with the stock opening at $779.99; it has traded between $580.03 and $875.97 over the past 52 weeks.
• The specialty chemicals company reported quarterly EPS of $12.62 on revenue of $669.72 million, and Weiss Ratings recently upgraded the stock from hold to buy.

Fifth Third Bancorp grew its holdings in NewMarket Corporation (NYSE:NEU - Free Report) by 2,932.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,153 shares of the specialty chemicals company's stock after acquiring an additional 2,082 shares during the period. Fifth Third Bancorp's holdings in NewMarket were worth $1,380,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Los Angeles Capital Management LLC bought a new stake in NewMarket in the 4th quarter valued at $25,000. International Assets Investment Management LLC purchased a new position in NewMarket during the 4th quarter valued at approximately $27,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings 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 acquiring an additional 39 shares in the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its position 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 valued at $52,000 after acquiring an additional 25 shares during the last quarter. Finally, Quarry LP purchased a new position in shares of NewMarket in the third quarter valued at $52,000. Institutional investors own 61.09% of the company's stock.

NewMarket Trading Up 1.3%

NYSE NEU opened at $779.99 on Friday. NewMarket Corporation has a 52 week low of $580.03 and a 52 week high of $875.97. The company has a 50 day moving average price of $777.63 and a 200 day moving average price of $696.02. The company has a quick ratio of 1.37, a current ratio of 2.55 and a debt-to-equity ratio of 0.54. The firm has a market cap of $7.18 billion, a PE ratio of 17.82 and a beta of 0.56.

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

Analyst Ratings Changes

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

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.