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 research report report published on Wednesday.

NewMarket Stock Down 0.1 %

NEU opened at $547.59 on Wednesday. NewMarket has a 52 week low of $480.00 and a 52 week high of $650.00. The company has a quick ratio of 1.40, a current ratio of 2.75 and a debt-to-equity ratio of 0.66. The firm has a 50-day simple moving average of $515.56 and a two-hundred day simple moving average of $534.17. The company has a market capitalization of $5.21 billion, a PE ratio of 11.36 and a beta of 0.48.

NewMarket (NYSE:NEU) last released its quarterly earnings results on Monday, February 3rd. The specialty chemicals company reported $11.56 earnings per share for the quarter. NewMarket had a return on equity of 35.48% and a net margin of 16.59%.

Hedge Funds Weigh In On NewMarket

Several institutional investors have recently bought and sold shares of NEU. Vanguard Group Inc. grew its position in NewMarket by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 731,312 shares of the specialty chemicals company’s stock worth $386,389,000 after acquiring an additional 8,951 shares in the last quarter. State Street Corp lifted its holdings in shares of NewMarket by 4.1% in the 3rd quarter. State Street Corp now owns 229,372 shares of the specialty chemicals company’s stock worth $127,132,000 after acquiring an additional 8,979 shares during the last quarter. Pacer Advisors Inc. grew its holdings in NewMarket by 1.3% during the 4th quarter. Pacer Advisors Inc. now owns 198,065 shares of the specialty chemicals company’s stock valued at $104,648,000 after purchasing an additional 2,493 shares during the last quarter. Dimensional Fund Advisors LP raised its position in NewMarket by 2.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 170,218 shares of the specialty chemicals company’s stock worth $89,938,000 after purchasing an additional 4,621 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of NewMarket by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 124,387 shares of the specialty chemicals company’s stock valued at $65,741,000 after buying an additional 1,733 shares during the period. Institutional investors 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.