Brandywine Global Investment Management LLC Sells 15,487 Shares of Newpark Resources Inc (NYSE:NR)

Brandywine Global Investment Management LLC decreased its holdings in Newpark Resources Inc (NYSE:NR) by 3.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 445,991 shares of the oil and gas company’s stock after selling 15,487 shares during the quarter. Brandywine Global Investment Management LLC owned approximately 0.49% of Newpark Resources worth $3,064,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of NR. Texas Permanent School Fund lifted its holdings in Newpark Resources by 4.3% in the fourth quarter. Texas Permanent School Fund now owns 59,424 shares of the oil and gas company’s stock valued at $408,000 after buying an additional 2,445 shares during the period. Advisor Group Inc. lifted its holdings in Newpark Resources by 233.0% in the fourth quarter. Advisor Group Inc. now owns 4,182 shares of the oil and gas company’s stock valued at $29,000 after buying an additional 2,926 shares during the period. Arizona State Retirement System lifted its holdings in Newpark Resources by 6.5% in the fourth quarter. Arizona State Retirement System now owns 139,843 shares of the oil and gas company’s stock valued at $961,000 after buying an additional 8,478 shares during the period. Teachers Retirement System of The State of Kentucky lifted its holdings in Newpark Resources by 49.9% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 31,525 shares of the oil and gas company’s stock valued at $326,000 after buying an additional 10,500 shares during the period. Finally, Great West Life Assurance Co. Can lifted its holdings in Newpark Resources by 10.0% in the fourth quarter. Great West Life Assurance Co. Can now owns 119,267 shares of the oil and gas company’s stock valued at $755,000 after buying an additional 10,812 shares during the period. 98.65% of the stock is currently owned by institutional investors.

In other Newpark Resources news, insider Paul L. Howes sold 200,000 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $9.21, for a total value of $1,842,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Paul L. Howes sold 106,487 shares of the company’s stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $9.50, for a total transaction of $1,011,626.50. Following the completion of the sale, the insider now directly owns 621,820 shares of the company’s stock, valued at $5,907,290. The disclosure for this sale can be found here. Insiders own 4.80% of the company’s stock.

Shares of NYSE:NR traded down $0.08 during midday trading on Monday, hitting $9.01. 226,434 shares of the company’s stock were exchanged, compared to its average volume of 633,710. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.69 and a quick ratio of 2.30. The company has a market cap of $825.31 million, a PE ratio of 21.98 and a beta of 1.70. Newpark Resources Inc has a 12 month low of $6.39 and a 12 month high of $11.65.

Newpark Resources (NYSE:NR) last posted its earnings results on Thursday, February 7th. The oil and gas company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.10 by $0.03. The company had revenue of $247.70 million during the quarter, compared to the consensus estimate of $242.61 million. Newpark Resources had a net margin of 3.41% and a return on equity of 6.85%. The firm’s revenue for the quarter was up 21.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.06 earnings per share. On average, equities research analysts expect that Newpark Resources Inc will post 0.41 earnings per share for the current fiscal year.

NR has been the topic of several research reports. TheStreet upgraded shares of Newpark Resources from a “c” rating to a “b” rating in a report on Friday, February 8th. SunTrust Banks set a $13.00 price objective on shares of Newpark Resources and gave the company a “buy” rating in a report on Monday, April 8th. Zacks Investment Research upgraded shares of Newpark Resources from a “sell” rating to a “hold” rating in a report on Saturday, February 9th. Finally, ValuEngine upgraded shares of Newpark Resources from a “sell” rating to a “hold” rating in a report on Friday, January 4th. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Newpark Resources currently has a consensus rating of “Buy” and a consensus price target of $12.00.

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Newpark Resources Profile

Newpark Resources, Inc provides products, rentals, and services primarily to the oil and natural gas exploration and production industry. It operates through two segments, Fluids Systems, and Mats and Integrated Services. The Fluids Systems segment offers drilling and completion fluids solutions, and technical services to customers in the North America, Europe, the Middle East, Africa, Latin America, and the Asia Pacific regions.

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Institutional Ownership by Quarter for Newpark Resources (NYSE:NR)

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