Bank of Nova Scotia raised its position in shares of NewMarket Corporation (NYSE:NEU – Free Report) by 18.0% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 7,200 shares of the specialty chemicals company’s stock after purchasing an additional 1,100 shares during the quarter. Bank of Nova Scotia’s holdings in NewMarket were worth $4,615,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in NEU. Los Angeles Capital Management LLC purchased a new stake in NewMarket during the 4th quarter valued at $25,000. International Assets Investment Management LLC purchased a new stake in shares of NewMarket in the fourth quarter valued at $27,000. Quarry LP bought a new stake in shares of NewMarket in the 3rd quarter worth about $52,000. Towarzystwo Funduszy Inwestycyjnych PZU SA lifted its holdings in shares of NewMarket by 50.0% in the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 75 shares of the specialty chemicals company’s stock worth $52,000 after acquiring an additional 25 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake 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 worth $44,000 after purchasing an additional 39 shares during the period. Institutional investors own 61.09% of the company’s stock.
Analyst Ratings Changes
Separately, Weiss Ratings upgraded NewMarket from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, June 12th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, NewMarket has an average rating of “Buy”.
NewMarket Trading Down 0.8%
NYSE NEU opened at $773.16 on Tuesday. NewMarket Corporation has a 52 week low of $580.03 and a 52 week high of $875.97. The company has a 50 day moving average price of $779.09 and a 200 day moving average price of $696.38. 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 firm has a market cap of $7.11 billion, a PE ratio of 17.66 and a beta of 0.56.
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.
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