NewMarket Co. (NYSE:NEU) Shares Sold by Cove Street Capital LLC

Cove Street Capital LLC lessened its stake in NewMarket Co. (NYSE:NEU - Free Report) by 20.4% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 23,451 shares of the specialty chemicals company's stock after selling 6,000 shares during the period. NewMarket comprises approximately 2.6% of Cove Street Capital LLC's portfolio, making the stock its 13th largest position. Cove Street Capital LLC owned 0.24% of NewMarket worth $8,559,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NEU. Arcus Capital Partners LLC acquired a new stake in NewMarket in the 4th quarter valued at about $31,000. Hollencrest Capital Management bought a new position in NewMarket during the 4th quarter worth approximately $35,000. Signaturefd LLC lifted its stake in NewMarket by 20.9% in the fourth quarter. Signaturefd LLC now owns 255 shares of the specialty chemicals company's stock valued at $79,000 after buying an additional 44 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of NewMarket by 8,060.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 408 shares of the specialty chemicals company's stock valued at $127,000 after purchasing an additional 403 shares during the last quarter. Finally, Covestor Ltd lifted its position in NewMarket by 69.6% during the first quarter. Covestor Ltd now owns 570 shares of the specialty chemicals company's stock worth $185,000 after purchasing an additional 234 shares during the period. Hedge funds and other institutional investors own 61.27% of the company's stock.

Shares of NYSE:NEU traded up $1.46 during trading hours on Friday, hitting $459.36. 6,257 shares of the company's stock traded hands, compared to its average volume of 39,969. The firm has a market capitalization of $4.41 billion, a P/E ratio of 12.69 and a beta of 0.39. NewMarket Co. has a 1 year low of $280.28 and a 1 year high of $460.50. The company has a debt-to-equity ratio of 1.03, a current ratio of 3.27 and a quick ratio of 1.73. The business has a fifty day moving average price of $417.49 and a 200-day moving average price of $381.53.

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

Get Our Latest Analysis on NEU

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.

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