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

Allspring Global Investments Holdings LLC trimmed its position in shares of NewMarket Co. (NYSE:NEU) by 0.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 170,703 shares of the specialty chemicals company’s stock after selling 190 shares during the period. Allspring Global Investments Holdings LLC’s holdings in NewMarket were worth $87,156,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Sanctuary Advisors LLC acquired a new stake in NewMarket during the second quarter worth about $428,000. Inspire Investing LLC increased its position in NewMarket by 9.5% during the 3rd quarter. Inspire Investing LLC now owns 749 shares of the specialty chemicals company’s stock worth $413,000 after purchasing an additional 65 shares in the last quarter. Exchange Traded Concepts LLC raised its holdings in NewMarket by 30.6% in the third quarter. Exchange Traded Concepts LLC now owns 1,363 shares of the specialty chemicals company’s stock valued at $752,000 after buying an additional 319 shares during the period. CX Institutional purchased a new position in NewMarket in the third quarter valued at approximately $4,328,000. Finally, Blue Trust Inc. lifted its position in NewMarket by 590.9% during the third quarter. Blue Trust Inc. now owns 76 shares of the specialty chemicals company’s stock valued at $39,000 after buying an additional 65 shares in the last quarter. 61.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

NewMarket Trading Up 1.1 %

NYSE:NEU opened at $539.79 on Thursday. The business’s 50-day moving average is $514.74 and its two-hundred day moving average is $534.48. The firm has a market capitalization of $5.18 billion, a PE ratio of 11.20 and a beta of 0.48. NewMarket Co. has a 12 month low of $480.00 and a 12 month high of $650.00. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.75 and a quick ratio of 1.50.

NewMarket (NYSE:NEU) last released its quarterly earnings results on Monday, February 3rd. The specialty chemicals company reported $11.56 earnings per share 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.