KLP Kapitalforvaltning AS Lowers Position in NewMarket Corporation (NYSE:NEU)

Key Points

• KLP Kapitalforvaltning AS reduced its stake in NewMarket Corporation by 15.6%, owning 2,700 shares valued at approximately $1.54 million after selling 500 shares in the first quarter.
• The stock has seen increased institutional interest, with firms like Private Trust Co. NA boosting their holdings by over 185% in the same quarter.
• NewMarket's stock price is currently down 1.5%, with a market cap of $6.68 billion and a recent earnings report showing an EPS of $13.26 for the quarter.

KLP Kapitalforvaltning AS trimmed its holdings in shares of NewMarket Corporation (NYSE:NEU - Free Report) by 15.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,700 shares of the specialty chemicals company's stock after selling 500 shares during the quarter. KLP Kapitalforvaltning AS's holdings in NewMarket were worth $1,536,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. MassMutual Private Wealth & Trust FSB increased its position in shares of NewMarket by 557.1% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 46 shares of the specialty chemicals company's stock worth $26,000 after purchasing an additional 39 shares in the last quarter. Bessemer Group Inc. grew its holdings in NewMarket by 166.7% in the 4th quarter. Bessemer Group Inc. now owns 48 shares of the specialty chemicals company's stock valued at $25,000 after buying an additional 30 shares in the last quarter. Private Trust Co. NA grew its holdings in NewMarket by 185.2% in the 1st quarter. Private Trust Co. NA now owns 77 shares of the specialty chemicals company's stock valued at $44,000 after buying an additional 50 shares in the last quarter. Whipplewood Advisors LLC grew its holdings in NewMarket by 7,700.0% in the 1st quarter. Whipplewood Advisors LLC now owns 78 shares of the specialty chemicals company's stock valued at $44,000 after buying an additional 77 shares in the last quarter. Finally, UMB Bank n.a. grew its holdings in NewMarket by 39.2% in the 1st quarter. UMB Bank n.a. now owns 103 shares of the specialty chemicals company's stock valued at $58,000 after buying an additional 29 shares in the last quarter. 61.09% of the stock is owned by institutional investors and hedge funds.

NewMarket Trading Down 0.8%

NYSE:NEU traded down $5.84 during trading hours on Wednesday, hitting $681.81. The company had a trading volume of 101,874 shares, compared to its average volume of 80,071. The company has a current ratio of 2.84, a quick ratio of 1.60 and a debt-to-equity ratio of 0.65. The company has a 50-day moving average of $683.24 and a 200 day moving average of $599.63. The company has a market cap of $6.43 billion, a P/E ratio of 13.57 and a beta of 0.42. NewMarket Corporation has a 1 year low of $480.00 and a 1 year high of $743.52.

NewMarket (NYSE:NEU - Get Free Report) last issued its earnings results on Wednesday, July 30th. The specialty chemicals company reported $11.84 earnings per share (EPS) for the quarter. NewMarket had a return on equity of 34.45% and a net margin of 17.22%.

Insider Buying and Selling at NewMarket

In other news, CAO Bruce R. Hazelgrove III sold 311 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $642.43, for a total transaction of $199,795.73. Following the completion of the transaction, the chief accounting officer directly owned 358 shares in the company, valued at approximately $229,989.94. This represents a 46.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 19.10% of the company's stock.

NewMarket Company Profile

NewMarket Corporation, through its subsidiaries, primarily engages in the manufacture and sale of petroleum additives. The company offers lubricant additives for use in various vehicle and industrial applications, including engine oils, transmission fluids, off-road powertrain and hydraulic systems, gear oils, hydraulic oils, turbine oils, and other applications where metal-to-metal moving parts are utilized; engine oil additives designed for passenger cars, motorcycles, on and off-road heavy duty commercial equipment, locomotives, and engines in ocean-going vessels; driveline additives designed for products, such as transmission fluids, axle fluids, and off-road powertrain fluids; and industrial additives designed for products for industrial applications consisting of hydraulic fluids, grease, industrial gear fluids, and industrial specialty applications, such as turbine oils.