Allianz Asset Management GmbH Boosts Stock Position in NewMarket Corporation $NEU

Allianz Asset Management GmbH raised its holdings in NewMarket Corporation (NYSE:NEU) by 174.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 23,556 shares of the specialty chemicals company’s stock after purchasing an additional 14,968 shares during the period. Allianz Asset Management GmbH owned about 0.25% of NewMarket worth $19,509,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Winnow Wealth LLC acquired a new stake in NewMarket in the third quarter valued at $29,000. Root Financial Partners LLC acquired a new stake in shares of NewMarket in the 3rd quarter valued at about $30,000. Quent Capital LLC bought a new position in shares of NewMarket during the third quarter worth about $43,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of NewMarket by 100.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78 shares of the specialty chemicals company’s stock worth $44,000 after purchasing an additional 39 shares during the last quarter. Finally, Bayforest Capital Ltd bought a new stake in NewMarket in the third quarter valued at about $96,000. Institutional investors and hedge funds own 61.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed 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, According to data from MarketBeat, the stock presently has an average rating of “Buy”.

NewMarket Price Performance

NEU opened at $723.99 on Friday. 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 company’s 50-day moving average price is $705.49 and its 200 day moving average price is $754.47. NewMarket Corporation has a fifty-two week low of $510.07 and a fifty-two week high of $875.97. The firm has a market cap of $6.81 billion, a price-to-earnings ratio of 15.30 and a beta of 0.48.

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.