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

StockNews.com downgraded shares of NewMarket (NYSE:NEUFree Report) from a strong-buy rating to a buy rating in a research report report published on Thursday morning.

NewMarket Stock Performance

Shares of NEU opened at $522.82 on Thursday. The business’s fifty day simple moving average is $547.62 and its two-hundred day simple moving average is $576.15. The company has a current ratio of 2.86, a quick ratio of 1.60 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 market cap of $5.01 billion, a price-to-earnings ratio of 12.58 and a beta of 0.48.

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

NewMarket Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be paid a $2.50 dividend. The ex-dividend date is Friday, June 14th. This represents a $10.00 dividend on an annualized basis and a dividend yield of 1.91%. NewMarket’s dividend payout ratio (DPR) is currently 24.06%.

Hedge Funds Weigh In On NewMarket

A number of institutional investors and hedge funds have recently modified their holdings of NEU. Rhumbline Advisers boosted its stake in shares of NewMarket by 20.1% in the 3rd quarter. Rhumbline Advisers now owns 33,328 shares of the specialty chemicals company’s stock worth $15,166,000 after buying an additional 5,571 shares during the last quarter. QRG Capital Management Inc. purchased a new position in NewMarket during the third quarter valued at $365,000. Envestnet Asset Management Inc. lifted its position in NewMarket by 57.8% during the third quarter. Envestnet Asset Management Inc. now owns 26,096 shares of the specialty chemicals company’s stock valued at $11,875,000 after purchasing an additional 9,557 shares in the last quarter. Invesco Ltd. lifted its position in NewMarket by 41.2% during 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 in the last quarter. Finally, Mariner LLC lifted its position in NewMarket by 4.2% during the third quarter. Mariner LLC now owns 1,772 shares of the specialty chemicals company’s stock valued at $806,000 after purchasing an additional 71 shares in the last quarter. 61.09% of the stock is currently owned by hedge funds and other institutional investors.

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.

See Also

Receive News & Ratings for NewMarket Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NewMarket and related companies with MarketBeat.com's FREE daily email newsletter.