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

StockNews.com lowered shares of NewMarket (NYSE:NEU) from a strong-buy rating to a buy rating in a report issued on Wednesday morning.

NewMarket Trading Up 1.7 %

Shares of NYSE NEU opened at $561.87 on Wednesday. NewMarket has a fifty-two week low of $429.19 and a fifty-two week high of $650.00. The company has a market cap of $5.39 billion, a price-to-earnings ratio of 13.52 and a beta of 0.47. The business’s 50 day moving average price is $532.08 and its 200-day moving average price is $571.92. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.60 and a current ratio of 2.86.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of NEU. Norges Bank bought a new position in NewMarket in the fourth quarter worth approximately $37,659,000. Vanguard Group Inc. boosted its position in NewMarket by 5.9% during the 3rd 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 in the last quarter. LSV Asset Management boosted its position in 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 acquiring an additional 23,938 shares in the last quarter. International Assets Investment Management LLC boosted its position in 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 acquiring an additional 21,248 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its position in NewMarket by 102.6% during the 1st quarter. Lazard Asset Management LLC now owns 36,368 shares of the specialty chemicals company’s stock valued at $23,079,000 after acquiring an additional 18,413 shares in the last quarter. Institutional investors own 61.09% of the company’s stock.

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.