Envestnet Asset Management Inc. Raises Stake in NewMarket Corporation $NEU

Envestnet Asset Management Inc. boosted its stake in NewMarket Corporation (NYSE:NEU) by 3.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 39,452 shares of the specialty chemicals company’s stock after purchasing an additional 1,192 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.42% of NewMarket worth $32,675,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of NEU. Winnow Wealth LLC purchased a new stake in shares of NewMarket in the third quarter worth about $29,000. Root Financial Partners LLC purchased a new stake in NewMarket in the 3rd quarter worth approximately $30,000. Quent Capital LLC bought a new position in NewMarket in the 3rd quarter valued at $43,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew 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 in the last quarter. Finally, Bayforest Capital Ltd bought a new position in shares of NewMarket in the third quarter worth $96,000. 61.09% of the stock is currently owned by institutional investors.

NewMarket Stock Down 3.0%

NEU opened at $697.81 on Thursday. The business’s fifty day simple moving average is $702.79 and its 200 day simple moving average is $754.51. NewMarket Corporation has a 52 week low of $510.07 and a 52 week high of $875.97. The company has a quick ratio of 1.43, a current ratio of 2.68 and a debt-to-equity ratio of 0.46. The stock has a market cap of $6.56 billion, a PE ratio of 14.74 and a beta of 0.48.

NewMarket (NYSE:NEU) last posted its quarterly earnings data on Wednesday, February 11th. The specialty chemicals company reported $8.65 earnings per share (EPS) for the quarter. The firm had revenue of $635.40 million during the quarter. NewMarket had a return on equity of 28.53% and a net margin of 16.33%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “buy (b-)” rating on shares of NewMarket in a research note on Monday, December 29th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, NewMarket 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.