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

StockNews.com cut shares of NewMarket (NYSE:NEUFree Report) from a strong-buy rating to a buy rating in a report issued on Sunday morning.

NewMarket Stock Performance

Shares of NEU opened at $535.46 on Friday. NewMarket has a 1 year low of $396.07 and a 1 year high of $650.00. The stock has a market capitalization of $5.14 billion, a PE ratio of 12.88 and a beta of 0.48. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.60 and a current ratio of 2.86. The stock has a 50-day simple moving average of $559.17 and a 200-day simple moving average of $576.14.

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

NewMarket Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a $2.50 dividend. This represents a $10.00 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date is Friday, June 14th. NewMarket’s dividend payout ratio is currently 24.06%.

Institutional Trading of NewMarket

A number of large investors have recently bought and sold shares of NEU. Vanguard Group Inc. raised 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 buying an additional 4,261 shares during the last quarter. London Co. of Virginia raised its stake 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 valued at $302,457,000 after acquiring an additional 1,796 shares during the last quarter. LSV Asset Management lifted 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 worth $138,371,000 after acquiring an additional 23,938 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of NewMarket by 1.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 146,589 shares of the specialty chemicals company’s stock valued at $80,015,000 after purchasing an additional 1,958 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in shares of NewMarket by 41.2% in the third quarter. Invesco Ltd. now owns 105,136 shares of the specialty chemicals company’s stock valued at $47,841,000 after purchasing an additional 30,694 shares during the period. Institutional investors and hedge funds own 61.09% of the company’s stock.

NewMarket Company Profile

(Get Free Report)

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.

Further Reading

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