Hsbc Holdings PLC Decreases Stock Position in NewMarket Corporation $NEU

Hsbc Holdings PLC lessened its stake in shares of NewMarket Corporation (NYSE:NEU) by 26.9% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,761 shares of the specialty chemicals company’s stock after selling 1,387 shares during the period. Hsbc Holdings PLC’s holdings in NewMarket were worth $2,400,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in the company. Los Angeles Capital Management LLC bought a new position in NewMarket during the fourth quarter valued at approximately $25,000. International Assets Investment Management LLC purchased a new stake in shares of NewMarket during the 4th quarter worth approximately $27,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of NewMarket by 100.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78 shares of the specialty chemicals company’s stock worth $44,000 after acquiring an additional 39 shares in the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its position in shares of NewMarket by 50.0% during the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 75 shares of the specialty chemicals company’s stock valued at $52,000 after acquiring an additional 25 shares during the last quarter. Finally, Quarry LP bought a new position in shares of NewMarket during the 3rd quarter valued at approximately $52,000. 61.09% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded shares of NewMarket from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, June 12th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, NewMarket presently has an average rating of “Buy”.

NewMarket Stock Up 1.3%

Shares of NYSE:NEU opened at $779.99 on Friday. The company has a market cap of $7.18 billion, a price-to-earnings ratio of 17.82 and a beta of 0.56. NewMarket Corporation has a 12 month low of $580.03 and a 12 month high of $875.97. The company has a current ratio of 2.55, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. The company has a 50-day moving average price of $777.63 and a 200 day moving average price of $696.02.

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