NewMarket Co. (NEU) Holdings Lowered by M&T Bank Corp

M&T Bank Corp trimmed its stake in NewMarket Co. (NYSE:NEU) by 2.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,972 shares of the specialty chemicals company’s stock after selling 431 shares during the period. M&T Bank Corp owned 0.13% of NewMarket worth $5,951,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Advisor Group Inc. lifted its holdings in shares of NewMarket by 6.7% in the 2nd quarter. Advisor Group Inc. now owns 238 shares of the specialty chemicals company’s stock valued at $110,000 after acquiring an additional 15 shares during the last quarter. Toronto Dominion Bank purchased a new position in NewMarket in the third quarter worth $137,000. Cubist Systematic Strategies LLC purchased a new position in NewMarket in the third quarter worth $222,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in NewMarket by 37.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 572 shares of the specialty chemicals company’s stock worth $227,000 after purchasing an additional 156 shares during the last quarter. Finally, State of Alaska Department of Revenue purchased a new position in NewMarket in the fourth quarter worth $238,000. Hedge funds and other institutional investors own 59.16% of the company’s stock.

NewMarket Co. (NYSE NEU) traded up $1.34 during midday trading on Tuesday, reaching $425.39. 13,416 shares of the company were exchanged, compared to its average volume of 35,960. The firm has a market capitalization of $4,994.94, a P/E ratio of 26.26 and a beta of 0.81. NewMarket Co. has a 52 week low of $373.59 and a 52 week high of $483.86. The company has a quick ratio of 1.42, a current ratio of 2.63 and a debt-to-equity ratio of 1.00.

NewMarket (NYSE:NEU) last released its earnings results on Tuesday, February 6th. The specialty chemicals company reported $3.05 EPS for the quarter, missing analysts’ consensus estimates of $3.62 by ($0.57). NewMarket had a return on equity of 37.86% and a net margin of 8.67%. The company had revenue of $559.98 million for the quarter, compared to analysts’ expectations of $522.10 million. During the same period in the prior year, the firm earned $3.86 EPS. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis.

Separately, TheStreet downgraded shares of NewMarket from a “b-” rating to a “c” rating in a research note on Wednesday, February 7th.

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About NewMarket

NewMarket Corporation is a holding company. The Company is the parent company of Afton Chemical Corporation (Afton), Ethyl Corporation (Ethyl), NewMarket Services Corporation (NewMarket Services), and NewMarket Development Corporation (NewMarket Development). The Company operates through petroleum additives segment, which is primarily represented by Afton.

Institutional Ownership by Quarter for NewMarket (NYSE:NEU)

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