Allspring Global Investments Holdings LLC Trims Stock Position in NewMarket Co. (NYSE:NEU)

Allspring Global Investments Holdings LLC cut its holdings in NewMarket Co. (NYSE:NEU) by 0.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 170,703 shares of the specialty chemicals company’s stock after selling 190 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 1.78% of NewMarket worth $87,156,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. State Street Corp grew its holdings in NewMarket by 4.1% during the 3rd quarter. State Street Corp now owns 229,372 shares of the specialty chemicals company’s stock valued at $127,132,000 after buying an additional 8,979 shares during the last quarter. Pacer Advisors Inc. lifted its position in shares of NewMarket by 1.3% in the fourth quarter. Pacer Advisors Inc. now owns 198,065 shares of the specialty chemicals company’s stock valued at $104,648,000 after acquiring an additional 2,493 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of NewMarket by 10.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 78,746 shares of the specialty chemicals company’s stock valued at $43,459,000 after acquiring an additional 7,719 shares during the last quarter. DAVENPORT & Co LLC increased its position in NewMarket by 29.2% during the 4th quarter. DAVENPORT & Co LLC now owns 66,879 shares of the specialty chemicals company’s stock worth $35,545,000 after purchasing an additional 15,129 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in NewMarket by 1.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 50,585 shares of the specialty chemicals company’s stock valued at $27,917,000 after purchasing an additional 722 shares during the last quarter. 61.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of NewMarket from a “strong-buy” rating to a “buy” rating in a research note on Monday.

NewMarket Stock Up 1.1 %

NEU stock opened at $539.79 on Thursday. NewMarket Co. has a one year low of $480.00 and a one year high of $650.00. The stock has a market capitalization of $5.18 billion, a P/E ratio of 11.20 and a beta of 0.48. The company has a 50 day moving average price of $514.74 and a two-hundred day moving average price of $534.48. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.50 and a current ratio of 2.75.

NewMarket (NYSE:NEU) last announced its quarterly earnings data on Monday, February 3rd. The specialty chemicals company reported $11.56 EPS for the quarter. NewMarket had a return on equity of 35.48% and a net margin of 16.59%.

NewMarket Profile

NewMarket Corporation, through its subsidiaries, primarily engages in the manufacture and sale of petroleum additives. 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.