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

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

NewMarket Stock Up 1.7 %

NEU stock opened at $561.87 on Wednesday. NewMarket has a 52-week low of $429.19 and a 52-week high of $650.00. The company’s 50 day simple moving average is $532.08 and its 200-day simple moving average is $571.92. 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 firm has a market capitalization of $5.39 billion, a P/E ratio of 13.52 and a beta of 0.47.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. ORG Partners LLC purchased a new position in NewMarket during the first quarter valued at approximately $30,000. UMB Bank n.a. grew its position in NewMarket by 64.5% during the first quarter. UMB Bank n.a. now owns 51 shares of the specialty chemicals company’s stock valued at $32,000 after purchasing an additional 20 shares in the last quarter. Janiczek Wealth Management LLC grew its position in NewMarket by 1,300.0% during the first quarter. Janiczek Wealth Management LLC now owns 56 shares of the specialty chemicals company’s stock valued at $36,000 after purchasing an additional 52 shares in the last quarter. Lindbrook Capital LLC grew its position in NewMarket by 35.6% during the fourth quarter. Lindbrook Capital LLC now owns 80 shares of the specialty chemicals company’s stock valued at $44,000 after purchasing an additional 21 shares in the last quarter. Finally, GAMMA Investing LLC purchased a new position in NewMarket during the fourth quarter valued at approximately $50,000. 61.09% of the stock is owned by hedge funds and other 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.