Bank of New York Mellon Corp Sells 10,566 Shares of NewMarket Corporation $NEU

Bank of New York Mellon Corp lowered its position in shares of NewMarket Corporation (NYSE:NEU) by 12.2% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 76,249 shares of the specialty chemicals company’s stock after selling 10,566 shares during the quarter. Bank of New York Mellon Corp’s holdings in NewMarket were worth $48,872,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of NEU. Norges Bank bought a new position in shares of NewMarket during the fourth quarter valued at about $64,654,000. AQR Capital Management LLC raised its holdings in shares of NewMarket by 196.7% during the third quarter. AQR Capital Management LLC now owns 137,943 shares of the specialty chemicals company’s stock valued at $114,246,000 after acquiring an additional 91,458 shares in the last quarter. Caisse de depot et placement du Quebec lifted its stake in NewMarket by 376.4% in the third quarter. Caisse de depot et placement du Quebec now owns 99,256 shares of the specialty chemicals company’s stock worth $82,205,000 after acquiring an additional 78,422 shares during the period. Corient Private Wealth LLC lifted its stake in NewMarket by 7,743.0% in the fourth quarter. Corient Private Wealth LLC now owns 75,763 shares of the specialty chemicals company’s stock worth $52,069,000 after acquiring an additional 74,797 shares during the period. Finally, Invesco Ltd. boosted its holdings in NewMarket by 112.4% in the third quarter. Invesco Ltd. now owns 67,633 shares of the specialty chemicals company’s stock valued at $56,014,000 after acquiring an additional 35,789 shares in the last quarter. Hedge funds and other institutional investors own 61.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised shares of 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 data from MarketBeat.com, the company currently has an average rating of “Buy”.

NewMarket Trading Up 1.3%

NYSE:NEU opened at $779.99 on Friday. The company’s 50-day simple moving average is $777.63 and its 200 day simple moving average is $696.02. NewMarket Corporation has a one year low of $580.03 and a one year high of $875.97. The firm has a market capitalization of $7.18 billion, a P/E ratio of 17.82 and a beta of 0.56. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.55 and a quick ratio of 1.37.

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

NewMarket 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.