Empowered Funds LLC Raises Stock Position in NewMarket Co. (NYSE:NEU)

Empowered Funds LLC grew its position in shares of NewMarket Co. (NYSE:NEU - Free Report) by 61.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,490 shares of the specialty chemicals company's stock after buying an additional 566 shares during the quarter. Empowered Funds LLC's holdings in NewMarket were worth $787,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. DAVENPORT & Co LLC grew its holdings in shares of NewMarket by 29.2% during the fourth quarter. DAVENPORT & Co LLC now owns 66,879 shares of the specialty chemicals company's stock valued at $35,545,000 after buying an additional 15,129 shares during the last quarter. Highland Capital Management LLC purchased a new stake in NewMarket in the fourth quarter worth approximately $243,000. Pacer Advisors Inc. boosted its holdings in NewMarket by 1.3% in the fourth quarter. Pacer Advisors Inc. now owns 198,065 shares of the specialty chemicals company's stock worth $104,648,000 after purchasing an additional 2,493 shares during the last quarter. KBC Group NV boosted its holdings in NewMarket by 82.4% in the fourth quarter. KBC Group NV now owns 321 shares of the specialty chemicals company's stock worth $170,000 after purchasing an additional 145 shares during the last quarter. Finally, Blue Trust Inc. boosted its holdings in NewMarket by 55.3% in the fourth quarter. Blue Trust Inc. now owns 118 shares of the specialty chemicals company's stock worth $65,000 after purchasing an additional 42 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 stock traded down $14.62 on Wednesday, hitting $544.93. 51,777 shares of the stock traded hands, compared to its average volume of 37,052. The firm has a market cap of $5.23 billion, a price-to-earnings ratio of 11.30 and a beta of 0.48. NewMarket Co. has a 52 week low of $480.00 and a 52 week high of $650.00. The firm has a 50 day simple moving average of $515.36 and a two-hundred day simple moving average of $534.08. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.75 and a quick ratio of 1.40.

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

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of NewMarket from a "strong-buy" rating to a "buy" rating in a research report on Wednesday.

NewMarket Company 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.