NewMarket (NYSE:NEU) Cut to Buy at StockNews.com

NewMarket (NYSE:NEU) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued on Wednesday.

NewMarket Trading Up 1.7 %

Shares of NewMarket stock opened at $552.56 on Wednesday. NewMarket has a 52-week low of $429.19 and a 52-week high of $650.00. The company has a debt-to-equity ratio of 1.11, a current ratio of 2.86 and a quick ratio of 1.60. The company’s fifty day moving average price is $531.87 and its two-hundred day moving average price is $571.85. The firm has a market capitalization of $5.30 billion, a PE ratio of 13.29 and a beta of 0.47.

NewMarket (NYSE:NEU) last announced its quarterly earnings data on Wednesday, April 24th. The specialty chemicals company reported $11.23 EPS for the quarter. NewMarket had a return on equity of 38.99% and a net margin of 14.82%. The firm had revenue of $696.74 million for the quarter.

Institutional Investors Weigh In On NewMarket

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP lifted its position in shares of NewMarket by 1.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 146,589 shares of the specialty chemicals company’s stock valued at $80,015,000 after buying an additional 1,958 shares during the last quarter. Treasurer of the State of North Carolina grew its holdings in NewMarket by 51.9% in the 4th quarter. Treasurer of the State of North Carolina now owns 4,160 shares of the specialty chemicals company’s stock valued at $2,271,000 after buying an additional 1,421 shares in the last quarter. Inceptionr LLC bought a new stake in shares of NewMarket in the fourth quarter valued at about $821,000. Mackenzie Financial Corp raised its stake in NewMarket by 254.4% in the 4th quarter. Mackenzie Financial Corp now owns 7,571 shares of the specialty chemicals company’s stock worth $4,132,000 after purchasing an additional 5,435 shares in the last quarter. Finally, International Assets Investment Management LLC increased its holdings in shares of NewMarket by 54,482.1% during the fourth quarter. International Assets Investment Management LLC now owns 21,287 shares of the specialty chemicals company’s stock worth $11,619,000 after purchasing an additional 21,248 shares during the period. 61.09% of the stock is owned by institutional investors.

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.