Assetmark Inc. Raises Stock Position in NewMarket Corporation (NYSE:NEU)

Assetmark Inc. raised its stake in shares of NewMarket Corporation (NYSE:NEU) by 6.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,311 shares of the specialty chemicals company’s stock after purchasing an additional 193 shares during the quarter. Assetmark Inc.’s holdings in NewMarket were worth $1,876,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in NEU. Bessemer Group Inc. grew its position in NewMarket by 166.7% during the 4th quarter. Bessemer Group Inc. now owns 48 shares of the specialty chemicals company’s stock valued at $25,000 after purchasing an additional 30 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its position in NewMarket by 557.1% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 46 shares of the specialty chemicals company’s stock valued at $26,000 after purchasing an additional 39 shares during the last quarter. Whipplewood Advisors LLC grew its position in NewMarket by 7,700.0% during the 1st quarter. Whipplewood Advisors LLC now owns 78 shares of the specialty chemicals company’s stock valued at $44,000 after purchasing an additional 77 shares during the last quarter. Private Trust Co. NA grew its position in NewMarket by 185.2% during the 1st quarter. Private Trust Co. NA now owns 77 shares of the specialty chemicals company’s stock valued at $44,000 after purchasing an additional 50 shares during the last quarter. Finally, UMB Bank n.a. grew its position in NewMarket by 39.2% during the 1st quarter. UMB Bank n.a. now owns 103 shares of the specialty chemicals company’s stock valued at $58,000 after purchasing an additional 29 shares during the last quarter. 61.09% of the stock is owned by hedge funds and other institutional investors.

NewMarket Stock Performance

Shares of NEU stock opened at $681.81 on Thursday. NewMarket Corporation has a one year low of $480.00 and a one year high of $743.52. The company’s 50-day moving average is $683.24 and its 200 day moving average is $599.63. The company has a market capitalization of $6.43 billion, a price-to-earnings ratio of 13.57 and a beta of 0.42. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.60 and a current ratio of 2.84.

NewMarket (NYSE:NEU) last posted its earnings results on Wednesday, July 30th. The specialty chemicals company reported $11.84 earnings per share (EPS) for the quarter. NewMarket had a net margin of 17.22% and a return on equity of 34.45%.

Insider Transactions at NewMarket

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

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.