Renaissance Technologies LLC Has $21.21 Million Stock Position in NewMarket Corporation $NEU

Key Points

• Renaissance Technologies increased its NewMarket stake by 136.7% in the first quarter, owning 33,100 shares valued at approximately $21.21 million, or 0.36% of the company. Institutional investors and hedge funds collectively own 61.09% of NewMarket.
• NewMarket received an upgraded “buy” rating from Weiss Ratings, while the stock carries a consensus “Buy” rating from MarketBeat’s analyst data.
• NewMarket reported quarterly earnings of $14.54 per share on revenue of $747.09 million, with a 15.25% net margin and 24.12% return on equity. Shares opened at $787.87, giving the company a market capitalization of about $7.25 billion.

Renaissance Technologies LLC boosted its stake in NewMarket Corporation (NYSE:NEU - Free Report) by 136.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,100 shares of the specialty chemicals company's stock after acquiring an additional 19,117 shares during the period. Renaissance Technologies LLC owned 0.36% of NewMarket worth $21,215,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in NEU. Los Angeles Capital Management LLC bought a new stake in shares of NewMarket in the 4th quarter valued at $25,000. International Assets Investment Management LLC acquired a new stake in shares of NewMarket during the fourth quarter worth $27,000. Quarry LP bought a new position in NewMarket during the third quarter worth $52,000. Towarzystwo Funduszy Inwestycyjnych PZU SA raised its stake in NewMarket by 50.0% during the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 75 shares of the specialty chemicals company's stock worth $52,000 after buying an additional 25 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in NewMarket by 100.0% in 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 buying an additional 39 shares during the period. Institutional investors and hedge funds own 61.09% of the company's stock.

Analysts Set New Price Targets

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

NewMarket Stock Up 0.6%

NewMarket stock opened at $787.87 on Thursday. The company has a market capitalization of $7.25 billion, a PE ratio of 18.00 and a beta of 0.56. NewMarket Corporation has a 12-month low of $580.03 and a 12-month high of $875.97. The firm's fifty day moving average is $782.37 and its 200 day moving average is $697.49. The company has a quick ratio of 1.37, a current ratio of 2.55 and a debt-to-equity ratio of 0.54.

NewMarket (NYSE:NEU - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The specialty chemicals company reported $14.54 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 $747.09 million during the quarter.

NewMarket 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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