Walleye Capital LLC Cuts Position in NewMarket Corporation $NEU

Key Points

• Walleye Capital LLC sharply reduced its NewMarket stake in the first quarter, cutting holdings by 87.5% and selling 10,350 shares. It ended the period with 1,479 shares valued at about $948,000.
• NewMarket reported solid recent financial results, posting quarterly EPS of $12.62 on revenue of $669.72 million, with a net margin of 15.25% and return on equity of 24.12%.
• Sentiment around the stock improved slightly after Weiss Ratings upgraded NewMarket from “hold” to “buy,” and the stock was up 1.3% to $779.99 in Friday trading.

Walleye Capital LLC cut its holdings in NewMarket Corporation (NYSE:NEU - Free Report) by 87.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,479 shares of the specialty chemicals company's stock after selling 10,350 shares during the period. Walleye Capital LLC's holdings in NewMarket were worth $948,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Los Angeles Capital Management LLC purchased a new position in NewMarket in the fourth quarter worth $25,000. International Assets Investment Management LLC purchased a new stake in shares of NewMarket during the 4th quarter valued at $27,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position 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 valued at $44,000 after purchasing an additional 39 shares during the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA raised its stake in shares of NewMarket by 50.0% during the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 75 shares of the specialty chemicals company's stock worth $52,000 after purchasing an additional 25 shares during the period. Finally, Quarry LP bought a new stake in shares of NewMarket during the 3rd quarter worth $52,000. 61.09% of the stock is owned by hedge funds and other institutional investors.

NewMarket Stock Up 1.3%

NewMarket stock opened at $779.99 on Friday. The company has a current ratio of 2.55, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. NewMarket Corporation has a 1-year low of $580.03 and a 1-year high of $875.97. The firm has a market capitalization of $7.18 billion, a price-to-earnings ratio of 17.82 and a beta of 0.56. The firm has a 50 day simple moving average of $777.63 and a 200 day simple moving average of $696.02.

NewMarket (NYSE:NEU - Get Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The specialty chemicals company reported $12.62 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 during the quarter.

Analyst Ratings Changes

Separately, Weiss Ratings raised shares of 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 MarketBeat.com, the company currently has an average rating of "Buy".

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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