StockNews.com Downgrades NewMarket (NYSE:NEU) to Buy

NewMarket (NYSE:NEU) was downgraded by stock analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report released on Thursday.

NewMarket Stock Up 0.1 %

Shares of NEU opened at $523.68 on Thursday. The stock has a market cap of $5.02 billion, a price-to-earnings ratio of 12.60 and a beta of 0.48. The company has a quick ratio of 1.60, a current ratio of 2.86 and a debt-to-equity ratio of 1.11. NewMarket has a 12 month low of $396.07 and a 12 month high of $650.00. The company has a 50-day moving average price of $550.69 and a two-hundred day moving average price of $576.10.

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

Institutional Trading of NewMarket

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of NewMarket by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 722,184 shares of the specialty chemicals company’s stock valued at $394,190,000 after purchasing an additional 4,261 shares in the last quarter. London Co. of Virginia grew its holdings in NewMarket by 0.3% during the 3rd quarter. London Co. of Virginia now owns 664,683 shares of the specialty chemicals company’s stock worth $302,457,000 after acquiring an additional 1,796 shares during the period. LSV Asset Management grew its holdings in NewMarket by 10.4% during the 4th quarter. LSV Asset Management now owns 253,506 shares of the specialty chemicals company’s stock worth $138,371,000 after acquiring an additional 23,938 shares during the period. Dimensional Fund Advisors LP grew its holdings in NewMarket by 1.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 146,589 shares of the specialty chemicals company’s stock worth $80,015,000 after acquiring an additional 1,958 shares during the period. Finally, Invesco Ltd. grew its holdings in NewMarket by 41.2% during the 3rd quarter. Invesco Ltd. now owns 105,136 shares of the specialty chemicals company’s stock worth $47,841,000 after acquiring an additional 30,694 shares during the period. Institutional investors and hedge funds own 61.09% of the company’s stock.

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.