Weiss Asset Management LP Acquires Shares of 21,001 NewMarket Corporation $NEU

Key Points

• Weiss Asset Management opened a new position in NewMarket during Q1, buying 21,001 shares valued at about $13.46 million. The stake represented roughly 0.23% of the company.
• NewMarket shares were up 1.3% and traded at $779.99, near the middle of their 12-month range of $580.03 to $875.97. The stock currently carries a market cap of $7.18 billion and a P/E ratio of 17.82.
• The company reported Q1 EPS of $12.62 on revenue of $669.72 million, with a net margin of 15.25% and return on equity of 24.12%. Weiss Ratings also upgraded NewMarket from a hold to a buy, and Wall Street consensus remains positive.

Weiss Asset Management LP bought a new position in NewMarket Corporation (NYSE:NEU - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 21,001 shares of the specialty chemicals company's stock, valued at approximately $13,461,000. Weiss Asset Management LP owned approximately 0.23% of NewMarket at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Los Angeles Capital Management LLC purchased a new position in shares of NewMarket in the 4th quarter worth about $25,000. International Assets Investment Management LLC purchased a new stake in NewMarket during the 4th quarter valued at about $27,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in 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 grew its position in NewMarket by 50.0% during the 4th 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 bought a new stake in NewMarket during the 3rd quarter valued at about $52,000. 61.09% of the stock is owned by hedge funds and other institutional investors.

NewMarket Trading Up 1.3%

Shares of NEU stock opened at $779.99 on Friday. NewMarket Corporation has a 12-month low of $580.03 and a 12-month high of $875.97. The company has a current ratio of 2.55, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. The firm's 50 day moving average is $777.63 and its 200 day moving average is $696.02. The stock has a market capitalization 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 earnings results on Wednesday, April 22nd. The specialty chemicals company reported $12.62 EPS for the quarter. The business had revenue of $669.72 million during the quarter. NewMarket had a net margin of 15.25% and a return on equity of 24.12%.

Wall Street Analysts Forecast Growth

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 data from MarketBeat, the stock has a consensus rating of "Buy".

About NewMarket

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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