Bank of Nova Scotia Grows Stock Holdings in NewMarket Corporation $NEU

Bank of Nova Scotia lifted its holdings in NewMarket Corporation (NYSE:NEU) by 18.0% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 7,200 shares of the specialty chemicals company’s stock after acquiring an additional 1,100 shares during the quarter. Bank of Nova Scotia owned 0.08% of NewMarket worth $4,615,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Sei Investments Co. boosted its position in NewMarket by 376.5% during the 1st quarter. Sei Investments Co. now owns 24,416 shares of the specialty chemicals company’s stock valued at $15,648,000 after buying an additional 19,292 shares during the period. NewEdge Wealth LLC boosted its holdings in shares of NewMarket by 54.1% during the first quarter. NewEdge Wealth LLC now owns 3,032 shares of the specialty chemicals company’s stock worth $1,943,000 after purchasing an additional 1,064 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of NewMarket by 6.7% in the first quarter. Dimensional Fund Advisors LP now owns 194,507 shares of the specialty chemicals company’s stock worth $124,658,000 after purchasing an additional 12,172 shares during the last quarter. SEB Asset Management AB bought a new stake in shares of NewMarket in the first quarter worth about $2,065,000. Finally, Dorsey Wright & Associates purchased a new position in NewMarket during the 1st quarter valued at about $231,000. Hedge funds and other institutional investors own 61.09% of the company’s stock.

NewMarket Price Performance

Shares of NYSE NEU opened at $773.16 on Tuesday. The firm has a market cap of $7.11 billion, a P/E ratio of 17.66 and a beta of 0.56. NewMarket Corporation has a twelve month low of $580.03 and a twelve month high of $875.97. The company has a quick ratio of 1.37, a current ratio of 2.55 and a debt-to-equity ratio of 0.54. The company has a 50 day moving average of $779.09 and a 200 day moving average of $696.38.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised shares of NewMarket from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, June 12th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has a consensus 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.