Advisors Asset Management Inc. Has $2.21 Million Position in NewMarket Corporation $NEU

Advisors Asset Management Inc. boosted its holdings in NewMarket Corporation (NYSE:NEU) by 221.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,662 shares of the specialty chemicals company’s stock after buying an additional 1,834 shares during the quarter. Advisors Asset Management Inc.’s holdings in NewMarket were worth $2,205,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Stratos Wealth Partners LTD. bought a new position in shares of NewMarket during the third quarter worth about $210,000. Azzad Asset Management Inc. ADV acquired a new stake in NewMarket during the 3rd quarter valued at approximately $1,703,000. Smartleaf Asset Management LLC raised its holdings in NewMarket by 125.0% during the 3rd quarter. Smartleaf Asset Management LLC now owns 45 shares of the specialty chemicals company’s stock worth $37,000 after purchasing an additional 25 shares during the last quarter. Spinnaker Trust bought a new position in NewMarket during the 3rd quarter worth approximately $231,000. Finally, Savant Capital LLC lifted its position in shares of NewMarket by 39.1% in the 3rd quarter. Savant Capital LLC now owns 1,178 shares of the specialty chemicals company’s stock worth $976,000 after purchasing an additional 331 shares during the period. 61.09% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Weiss Ratings lowered shares of NewMarket from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company has an average rating of “Hold”.

NewMarket Price Performance

NewMarket stock opened at $592.39 on Monday. NewMarket Corporation has a 52 week low of $510.07 and a 52 week high of $875.97. The company’s 50 day moving average price is $696.02 and its two-hundred day moving average price is $753.68. The stock has a market cap of $5.57 billion, a P/E ratio of 13.34 and a beta of 0.48. The company has a quick ratio of 1.33, a current ratio of 2.53 and a debt-to-equity ratio of 0.50.

NewMarket (NYSE:NEU) last issued its quarterly earnings results on Wednesday, February 11th. The specialty chemicals company reported $8.65 EPS for the quarter. The company had revenue of $635.40 million during the quarter. NewMarket had a return on equity of 25.38% and a net margin of 15.37%.

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.