Azzad Asset Management Inc. ADV Takes $1.70 Million Position in NewMarket Corporation $NEU

Azzad Asset Management Inc. ADV acquired a new position in NewMarket Corporation (NYSE:NEU) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,056 shares of the specialty chemicals company’s stock, valued at approximately $1,703,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. LSV Asset Management grew its position in shares of NewMarket by 27.8% during the 2nd quarter. LSV Asset Management now owns 262,148 shares of the specialty chemicals company’s stock worth $181,108,000 after buying an additional 57,101 shares during the period. Geode Capital Management LLC boosted its stake in NewMarket by 20.1% in the second quarter. Geode Capital Management LLC now owns 156,613 shares of the specialty chemicals company’s stock valued at $108,212,000 after acquiring an additional 26,254 shares during the last quarter. American Century Companies Inc. grew its holdings in NewMarket by 8.2% during the 2nd quarter. American Century Companies Inc. now owns 113,754 shares of the specialty chemicals company’s stock worth $78,588,000 after acquiring an additional 8,634 shares during the period. Bank of New York Mellon Corp raised its position in shares of NewMarket by 3.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 92,886 shares of the specialty chemicals company’s stock valued at $64,171,000 after acquiring an additional 2,727 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of NewMarket in the 2nd quarter valued at $51,515,000. 61.09% of the stock is owned by institutional investors.

NewMarket Price Performance

Shares of NYSE NEU opened at $723.99 on Monday. The company has a fifty day moving average price of $705.49 and a 200 day moving average price of $754.86. The firm has a market cap of $6.81 billion, a PE ratio of 15.30 and a beta of 0.48. The company has a current ratio of 2.68, a quick ratio of 1.43 and a debt-to-equity ratio of 0.46. NewMarket Corporation has a 1-year low of $510.07 and a 1-year high of $875.97.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “buy (b-)” rating on shares of NewMarket in a report on Monday, December 29th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy”.

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.