NewMarket (NYSE:NEU – Get Free Report) was downgraded by equities research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Monday.
NewMarket Price Performance
Shares of NYSE NEU traded down $3.58 during midday trading on Monday, reaching $532.76. 19,283 shares of the stock traded hands, compared to its average volume of 40,978. 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 stock has a market capitalization of $5.11 billion, a PE ratio of 12.82 and a beta of 0.47. NewMarket has a one year low of $427.53 and a one year high of $650.00. The company’s 50 day moving average is $534.34 and its 200 day moving average is $572.38.
NewMarket (NYSE:NEU – Get Free Report) last issued its quarterly earnings results on Wednesday, April 24th. The specialty chemicals company reported $11.23 earnings per share (EPS) for the quarter. The company had revenue of $696.74 million during the quarter. NewMarket had a return on equity of 38.99% and a net margin of 14.82%.
Institutional Trading of NewMarket
Several institutional investors and hedge funds have recently made changes to their positions in NEU. Pacer Advisors Inc. increased its stake in shares of NewMarket by 4,435.3% during the fourth quarter. Pacer Advisors Inc. now owns 87,350 shares of the specialty chemicals company’s stock valued at $47,678,000 after buying an additional 85,424 shares during the period. Norges Bank purchased a new stake in NewMarket in the 4th quarter worth approximately $37,659,000. Vanguard Group Inc. boosted its position in NewMarket by 5.9% in the 3rd quarter. Vanguard Group Inc. now owns 717,923 shares of the specialty chemicals company’s stock worth $326,684,000 after purchasing an additional 40,028 shares in the last quarter. LSV Asset Management lifted its position in shares of NewMarket by 10.4% during the 4th quarter. LSV Asset Management now owns 253,506 shares of the specialty chemicals company’s stock valued at $138,371,000 after buying an additional 23,938 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its position in shares of NewMarket by 54,482.1% during the 4th quarter. International Assets Investment Management LLC now owns 21,287 shares of the specialty chemicals company’s stock valued at $11,619,000 after buying an additional 21,248 shares in the last quarter. 61.09% of the stock is currently owned by institutional investors.
About NewMarket
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.