Maridea Wealth Management LLC Purchases New Position in NewMarket Corporation (NYSE:NEU)

Key Points

• Maridea Wealth Management LLC invested $411,000 in NewMarket Corporation by purchasing 725 shares in the first quarter.
• Significant increases in holdings by institutional investors include GAMMA Investing LLC, which raised its position by 54,160%, now owning 103,094 shares.
• NewMarket's stock currently has a market cap of $6.54 billion, with a PE ratio of 13.81 and a 1-year range between $480.00 and $743.52.

Maridea Wealth Management LLC acquired a new stake in shares of NewMarket Corporation (NYSE:NEU - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 725 shares of the specialty chemicals company's stock, valued at approximately $411,000.

A number of other hedge funds and other institutional investors have also modified their holdings of NEU. MassMutual Private Wealth & Trust FSB raised its position in NewMarket by 557.1% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 46 shares of the specialty chemicals company's stock worth $26,000 after acquiring an additional 39 shares in the last quarter. Bessemer Group Inc. raised its position in NewMarket by 166.7% in the fourth quarter. Bessemer Group Inc. now owns 48 shares of the specialty chemicals company's stock worth $25,000 after acquiring an additional 30 shares in the last quarter. Private Trust Co. NA raised its position in NewMarket by 185.2% in the first quarter. Private Trust Co. NA now owns 77 shares of the specialty chemicals company's stock worth $44,000 after acquiring an additional 50 shares in the last quarter. Whipplewood Advisors LLC raised its position in NewMarket by 7,700.0% in the first quarter. Whipplewood Advisors LLC now owns 78 shares of the specialty chemicals company's stock worth $44,000 after acquiring an additional 77 shares in the last quarter. Finally, UMB Bank n.a. raised its position in NewMarket by 39.2% in the first quarter. UMB Bank n.a. now owns 103 shares of the specialty chemicals company's stock worth $58,000 after acquiring an additional 29 shares in the last quarter. 61.09% of the stock is currently owned by institutional investors.

Insider Transactions at NewMarket

In other NewMarket news, CAO Bruce R. Hazelgrove III sold 311 shares of the business's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $642.43, for a total transaction of $199,795.73. Following the sale, the chief accounting officer owned 358 shares in the company, valued at approximately $229,989.94. The trade was a 46.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 19.10% of the company's stock.

NewMarket Price Performance

NewMarket stock traded up $10.68 during midday trading on Friday, hitting $697.68. The company's stock had a trading volume of 35,142 shares, compared to its average volume of 75,239. The company has a quick ratio of 1.60, a current ratio of 2.84 and a debt-to-equity ratio of 0.65. The stock's 50-day moving average price is $684.01 and its 200-day moving average price is $600.97. NewMarket Corporation has a 12 month low of $480.00 and a 12 month high of $743.52. The company has a market capitalization of $6.58 billion, a PE ratio of 13.83 and a beta of 0.42.

NewMarket (NYSE:NEU - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The specialty chemicals company reported $11.84 EPS for the quarter. NewMarket had a net margin of 17.28% and a return on equity of 33.16%. The firm had revenue of $698.51 million for the quarter.

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.