Arizona State Retirement System lessened its holdings in NewMarket Co. (NYSE:NEU – Get Rating) by 2.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,300 shares of the specialty chemicals company’s stock after selling 53 shares during the quarter. Arizona State Retirement System’s holdings in NewMarket were worth $746,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in NEU. GHP Investment Advisors Inc. purchased a new position in shares of NewMarket in the first quarter worth about $27,000. CWM LLC purchased a new position in shares of NewMarket in the fourth quarter worth about $29,000. Covestor Ltd purchased a new position in shares of NewMarket in the fourth quarter worth about $115,000. Fractal Investments LLC purchased a new position in shares of NewMarket in the fourth quarter worth about $240,000. Finally, Inspire Investing LLC purchased a new position in shares of NewMarket in the first quarter worth about $236,000. Institutional investors and hedge funds own 54.72% of the company’s stock.
NewMarket Trading Down 0.6 %
Shares of NYSE:NEU opened at $309.00 on Wednesday. The business has a 50-day moving average price of $308.12 and a 200-day moving average price of $320.46. The company has a quick ratio of 1.43, a current ratio of 2.71 and a debt-to-equity ratio of 1.11. The stock has a market cap of $3.17 billion, a price-to-earnings ratio of 18.23 and a beta of 0.36. NewMarket Co. has a 52-week low of $285.60 and a 52-week high of $378.63.
Wall Street Analysts Forecast Growth
NewMarket Corporation, through its subsidiaries, engages in the petroleum additives business. The company offers lubricant additives for use in various vehicle and industrial applications, including engine oils, transmission fluids, off-road powertrain and hydraulic systems, gear oils, hydraulic oils, turbine oils, and other applications where metal-to-metal moving parts are utilized; engine oil additives designed for passenger cars, motorcycles, on and off-road heavy duty commercial equipment, locomotives, and engines in ocean-going vessels; driveline additives designed for products, such as transmission fluids, axle fluids, and off-road powertrain fluids; and industrial additives designed for products for industrial applications consisting of hydraulic fluids, grease, industrial gear fluids, and industrial specialty applications, such as turbine oils.
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