NewMarket (NYSE:NEU – Get Rating) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report issued on Friday.
Separately, TheStreet downgraded shares of NewMarket from a “b” rating to a “c” rating in a report on Thursday, February 3rd.
Shares of NEU traded down $7.37 on Friday, reaching $324.61. The company’s stock had a trading volume of 32,250 shares, compared to its average volume of 33,665. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.91 and a quick ratio of 1.23. The stock has a market capitalization of $3.35 billion, a P/E ratio of 18.46 and a beta of 0.35. The stock’s 50 day simple moving average is $324.63 and its two-hundred day simple moving average is $334.36. NewMarket has a 12-month low of $296.05 and a 12-month high of $378.63.
NewMarket (NYSE:NEU – Get Rating) last posted its quarterly earnings data on Wednesday, February 2nd. The specialty chemicals company reported $1.65 earnings per share (EPS) for the quarter. The company had revenue of $576.57 million for the quarter. NewMarket had a net margin of 8.10% and a return on equity of 23.91%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC bought a new stake in NewMarket during the 4th quarter worth approximately $119,459,000. State Street Corp raised its stake in NewMarket by 1.1% during the 4th quarter. State Street Corp now owns 198,278 shares of the specialty chemicals company’s stock worth $68,364,000 after acquiring an additional 2,211 shares during the period. Dimensional Fund Advisors LP raised its stake in NewMarket by 3.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 107,376 shares of the specialty chemicals company’s stock worth $36,802,000 after acquiring an additional 3,159 shares during the period. LSV Asset Management raised its stake in NewMarket by 5.3% during the 4th quarter. LSV Asset Management now owns 97,690 shares of the specialty chemicals company’s stock worth $33,480,000 after acquiring an additional 4,917 shares during the period. Finally, Cove Street Capital LLC raised its position in shares of NewMarket by 52.7% during the third quarter. Cove Street Capital LLC now owns 64,160 shares of the specialty chemicals company’s stock valued at $21,735,000 after buying an additional 22,145 shares during the last quarter. Institutional investors own 68.64% of the company’s stock.
About NewMarket
NewMarket Corporation, through its subsidiaries, engages in the petroleum additives business. 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.