NewMarket (NYSE:NEU) Rating Increased to Strong-Buy at StockNews.com

NewMarket (NYSE:NEUGet Free Report) was upgraded by research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Tuesday.

NewMarket Price Performance

NewMarket stock traded down $4.59 during midday trading on Tuesday, reaching $554.89. The company’s stock had a trading volume of 82,161 shares, compared to its average volume of 43,006. NewMarket has a 52 week low of $389.18 and a 52 week high of $650.00. The company has a current ratio of 2.86, a quick ratio of 1.60 and a debt-to-equity ratio of 1.11. The business has a 50-day moving average price of $593.97 and a 200-day moving average price of $570.76. The stock has a market cap of $5.32 billion, a PE ratio of 13.35 and a beta of 0.51.

NewMarket (NYSE:NEUGet Free Report) last released its quarterly earnings results on Wednesday, April 24th. The specialty chemicals company reported $11.23 earnings per share for the quarter. The company had revenue of $696.74 million for 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 have recently added to or reduced their stakes in NEU. LSV Asset Management boosted its holdings in NewMarket by 62.7% in the third quarter. LSV Asset Management now owns 229,568 shares of the specialty chemicals company’s stock valued at $104,463,000 after acquiring an additional 88,476 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in NewMarket by 4,435.3% in the fourth quarter. Pacer Advisors Inc. now owns 87,350 shares of the specialty chemicals company’s stock valued at $47,678,000 after acquiring an additional 85,424 shares during the last quarter. Norges Bank bought a new stake in NewMarket in the fourth quarter valued at approximately $37,659,000. Vanguard Group Inc. boosted its holdings in NewMarket by 5.9% in the third quarter. Vanguard Group Inc. now owns 717,923 shares of the specialty chemicals company’s stock valued at $326,684,000 after acquiring an additional 40,028 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in NewMarket by 41.2% in the third quarter. Invesco Ltd. now owns 105,136 shares of the specialty chemicals company’s stock valued at $47,841,000 after acquiring an additional 30,694 shares during the last quarter. 61.09% of the stock is currently owned by institutional investors.

NewMarket Company Profile

(Get Free Report)

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.

Further Reading

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