Fifth Third Bancorp Boosts Holdings in NewMarket Corporation $NEU

Fifth Third Bancorp boosted its stake in shares of NewMarket Corporation (NYSE:NEU) by 2,932.4% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 2,153 shares of the specialty chemicals company’s stock after purchasing an additional 2,082 shares during the period. Fifth Third Bancorp’s holdings in NewMarket were worth $1,380,000 at the end of the most recent quarter.

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

NewMarket Stock Performance

NewMarket stock opened at $779.99 on Friday. The firm has a 50 day simple moving average of $777.63 and a 200-day simple moving average of $696.02. NewMarket Corporation has a 1-year low of $580.03 and a 1-year high of $875.97. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.55 and a quick ratio of 1.37. The stock has a market cap of $7.18 billion, a price-to-earnings ratio of 17.82 and a beta of 0.56.

NewMarket (NYSE:NEU) last released its quarterly earnings results on Wednesday, April 22nd. The specialty chemicals company reported $12.62 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.

Wall Street Analysts Forecast Growth

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

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.