NewMarket Corporation $NEU Shares Sold by Rhumbline Advisers

Rhumbline Advisers reduced its stake in NewMarket Corporation (NYSE:NEU) by 13.3% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 24,482 shares of the specialty chemicals company’s stock after selling 3,760 shares during the period. Rhumbline Advisers’ holdings in NewMarket were worth $20,276,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. GAMMA Investing LLC boosted its position in shares of NewMarket by 7.3% during the 3rd quarter. GAMMA Investing LLC now owns 220 shares of the specialty chemicals company’s stock valued at $182,000 after acquiring an additional 15 shares during the last quarter. MGO One Seven LLC boosted its holdings in NewMarket by 6.5% in the 3rd quarter. MGO One Seven LLC now owns 328 shares of the specialty chemicals company’s stock valued at $272,000 after purchasing an additional 20 shares during the last quarter. MAI Capital Management boosted its holdings in NewMarket by 20.8% in the 2nd quarter. MAI Capital Management now owns 122 shares of the specialty chemicals company’s stock valued at $84,000 after purchasing an additional 21 shares during the last quarter. Arizona State Retirement System grew its stake in shares of NewMarket by 0.9% in the 3rd quarter. Arizona State Retirement System now owns 2,374 shares of the specialty chemicals company’s stock valued at $1,966,000 after buying an additional 21 shares during the period. Finally, Global Retirement Partners LLC increased its holdings in shares of NewMarket by 3.5% during the 3rd quarter. Global Retirement Partners LLC now owns 703 shares of the specialty chemicals company’s stock worth $582,000 after buying an additional 24 shares during the last quarter. Hedge funds and other institutional investors own 61.09% of the company’s stock.

NewMarket Price Performance

Shares of NEU opened at $592.39 on Tuesday. The firm has a 50-day simple moving average of $692.71 and a two-hundred day simple moving average of $753.02. The stock has a market cap of $5.57 billion, a PE ratio of 13.34 and a beta of 0.48. NewMarket Corporation has a 1-year low of $510.07 and a 1-year high of $875.97. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.53 and a quick ratio of 1.33.

NewMarket (NYSE:NEU) last issued its quarterly earnings data on Wednesday, February 11th. The specialty chemicals company reported $8.65 EPS for the quarter. NewMarket had a net margin of 15.37% and a return on equity of 25.38%. The firm had revenue of $635.40 million for the quarter.

Analyst Upgrades and Downgrades

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

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.