London Co. of Virginia Sells 31,793 Shares of NewMarket Corporation $NEU

Key Points

• London Co. of Virginia cut its NewMarket stake by 6.5% in the first quarter, selling 31,793 shares and leaving it with 461,027 shares worth about $295.5 million.
• Despite the trim, NewMarket remains a major holding for the fund, representing about 1.8% of its portfolio and its 18th largest position. Institutional investors still own 61.09% of the stock.
• Weiss Ratings upgraded NewMarket from hold to buy, and the stock currently carries a consensus Buy rating. NewMarket recently reported quarterly EPS of $12.62 and revenue of $669.72 million.

London Co. of Virginia trimmed its position in NewMarket Corporation (NYSE:NEU - Free Report) by 6.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 461,027 shares of the specialty chemicals company's stock after selling 31,793 shares during the quarter. NewMarket comprises approximately 1.8% of London Co. of Virginia's holdings, making the stock its 18th largest position. London Co. of Virginia owned 5.01% of NewMarket worth $295,505,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Los Angeles Capital Management LLC bought a new position in NewMarket in the 4th quarter worth $25,000. International Assets Investment Management LLC bought a new stake in NewMarket during the fourth quarter valued at about $27,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in NewMarket by 100.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78 shares of the specialty chemicals company's stock valued at $44,000 after acquiring an additional 39 shares during the period. Towarzystwo Funduszy Inwestycyjnych PZU SA grew its position in shares of NewMarket by 50.0% in the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 75 shares of the specialty chemicals company's stock valued at $52,000 after purchasing an additional 25 shares during the last quarter. Finally, Quarry LP acquired a new stake in shares of NewMarket in the third quarter valued at about $52,000. 61.09% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

NewMarket Price Performance

NYSE:NEU opened at $779.99 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.55 and a quick ratio of 1.37. NewMarket Corporation has a one year low of $580.03 and a one year high of $875.97. The company has a fifty day moving average price of $777.63 and a 200 day moving average price of $696.02. The stock has a market cap of $7.18 billion, a P/E ratio of 17.82 and a beta of 0.56.

NewMarket (NYSE:NEU - Get Free Report) last posted 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 company had revenue of $669.72 million for the quarter.

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.

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