First Trust Advisors LP Decreases Stock Holdings in NewMarket Corporation $NEU

Key Points

• First Trust Advisors LP cut its NewMarket stake by 60.8% in the first quarter, selling 46,953 shares and retaining 30,292 shares worth approximately $19.4 million. Institutional investors collectively own 61.09% of NEU.
• NewMarket reported quarterly EPS of $14.54 on revenue of $747.09 million, with a 15.25% net margin and 24.12% return on equity.
• NEU opened at $787.87, with a market capitalization of $7.25 billion and a 12-month trading range of $580.03 to $875.97. Weiss Ratings upgraded the stock to “buy,” while the analyst consensus remains “Buy.”

First Trust Advisors LP reduced its stake in shares of NewMarket Corporation (NYSE:NEU - Free Report) by 60.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 30,292 shares of the specialty chemicals company's stock after selling 46,953 shares during the quarter. First Trust Advisors LP owned 0.33% of NewMarket worth $19,416,000 as of its most recent filing with the Securities and Exchange Commission.

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

NewMarket Stock Performance

NYSE:NEU opened at $787.87 on Thursday. The company has a current ratio of 2.55, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $7.25 billion, a P/E ratio of 18.00 and a beta of 0.56. The firm has a 50-day moving average price of $782.37 and a two-hundred day moving average price of $697.49. NewMarket Corporation has a twelve month low of $580.03 and a twelve month high of $875.97.

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 (EPS) for the quarter. The company had revenue of $747.09 million for the quarter. NewMarket had a net margin of 15.25% and a return on equity of 24.12%.

Wall Street Analysts Forecast Growth

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

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.

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