Allspring Global Investments Holdings LLC Grows Stake in NewMarket Corporation $NEU

Allspring Global Investments Holdings LLC boosted its position in NewMarket Corporation (NYSE:NEU) by 439.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,685 shares of the specialty chemicals company’s stock after purchasing an additional 10,335 shares during the period. Allspring Global Investments Holdings LLC’s holdings in NewMarket were worth $8,097,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the company. 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 acquiring an additional 39 shares in the last quarter. NewEdge Advisors LLC raised its position in NewMarket by 1,442.4% during the first quarter. NewEdge Advisors LLC now owns 509 shares of the specialty chemicals company’s stock valued at $288,000 after purchasing an additional 476 shares in the last quarter. United Services Automobile Association purchased a new stake in NewMarket during the first quarter valued at about $266,000. Empowered Funds LLC lifted its stake in NewMarket by 4.8% during the first quarter. Empowered Funds LLC now owns 1,562 shares of the specialty chemicals company’s stock worth $885,000 after purchasing an additional 72 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in NewMarket by 9.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 22,268 shares of the specialty chemicals company’s stock worth $12,614,000 after purchasing an additional 1,995 shares during the last quarter. Hedge funds and other institutional investors own 61.09% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded NewMarket from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, June 12th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy”.

NewMarket Stock Performance

Shares of NEU stock opened at $766.95 on Friday. The company has a market capitalization of $7.05 billion, a P/E ratio of 17.52 and a beta of 0.56. NewMarket Corporation has a fifty-two week low of $580.03 and a fifty-two week high of $875.97. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 2.55. The stock has a 50 day moving average price of $775.67 and a two-hundred day moving average price of $695.43.

NewMarket (NYSE:NEU) last issued its earnings results on Wednesday, April 22nd. The specialty chemicals company reported $12.62 earnings per share (EPS) for the quarter. NewMarket had a net margin of 15.25% and a return on equity of 24.12%. The firm had revenue of $669.72 million for the quarter.

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.