Lazard Asset Management LLC Trims Holdings in NewMarket Corporation $NEU

Lazard Asset Management LLC lowered its holdings in shares of NewMarket Corporation (NYSE:NEU) by 14.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,414 shares of the specialty chemicals company’s stock after selling 1,070 shares during the period. Lazard Asset Management LLC owned 0.07% of NewMarket worth $4,111,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Los Angeles Capital Management LLC purchased a new stake in shares of NewMarket in the fourth quarter valued at about $25,000. International Assets Investment Management LLC acquired a new stake in shares of NewMarket during the fourth quarter worth about $27,000. Quarry LP purchased a new position in shares of NewMarket during the third quarter worth about $52,000. Towarzystwo Funduszy Inwestycyjnych PZU SA grew its holdings in shares of NewMarket by 50.0% during the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 75 shares of the specialty chemicals company’s stock worth $52,000 after buying an additional 25 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in NewMarket by 100.0% in 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. 61.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Wall Street Zen raised NewMarket from a “hold” rating to a “buy” rating in a research note on Saturday. Weiss Ratings upgraded NewMarket from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, June 12th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of “Buy”.

NewMarket Price Performance

Shares of NYSE:NEU opened at $850.71 on Friday. The company has a quick ratio of 1.37, a current ratio of 2.25 and a debt-to-equity ratio of 0.47. The company has a market cap of $7.83 billion, a P/E ratio of 18.30 and a beta of 0.56. NewMarket Corporation has a 52 week low of $580.03 and a 52 week high of $876.33. The company has a 50-day moving average price of $787.49 and a 200 day moving average price of $699.54.

NewMarket (NYSE:NEU) last announced its quarterly earnings data on Wednesday, July 29th. The specialty chemicals company reported $14.54 earnings per share for the quarter. NewMarket had a return on equity of 24.62% and a net margin of 15.80%.The company had revenue of $747.09 million for the quarter.

NewMarket Company 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.