Shares of NewMarket Corp. (NYSE:NEU) dropped 2.8% during trading on Friday . The company traded as low as $427.36 and last traded at $427.94, with a volume of 57,885 shares traded. The stock had previously closed at $440.46.

Several brokerages have issued reports on NEU. Zacks Investment Research lowered NewMarket Corp. from a “buy” rating to a “hold” rating in a research note on Thursday, May 19th. Longbow Research lowered NewMarket Corp. from a “buy” rating to a “neutral” rating in a research note on Friday.

The stock’s 50 day moving average is $412.41 and its 200 day moving average is $391.38. The stock has a market cap of $5.07 billion and a PE ratio of 21.16.

NewMarket Corp. (NYSE:NEU) last posted its earnings results on Wednesday, July 27th. The company reported $5.50 earnings per share for the quarter, topping analysts’ consensus estimates of $5.45 by $0.05. The firm had revenue of $521.80 million for the quarter, compared to analysts’ expectations of $556.60 million. During the same quarter last year, the company posted $4.65 EPS. The firm’s revenue was down 6.9% on a year-over-year basis. Equities research analysts predict that NewMarket Corp. will post $20.70 EPS for the current year.

Several hedge funds recently bought and sold shares of the company. Freestone Capital Holdings LLC increased its stake in NewMarket Corp. by 8.5% in the fourth quarter. Freestone Capital Holdings LLC now owns 4,309 shares of the company’s stock valued at $1,641,000 after buying an additional 339 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in NewMarket Corp. by 2.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,559 shares of the company’s stock valued at $1,735,000 after buying an additional 124 shares during the last quarter. Suntrust Banks Inc. bought a new stake in NewMarket Corp. during the fourth quarter valued at $2,765,000. Wells Fargo & Company MN increased its stake in NewMarket Corp. by 8.3% in the fourth quarter. Wells Fargo & Company MN now owns 19,828 shares of the company’s stock valued at $7,549,000 after buying an additional 1,515 shares during the last quarter. Finally, Morgan Stanley increased its stake in NewMarket Corp. by 8.4% in the fourth quarter. Morgan Stanley now owns 25,086 shares of the company’s stock valued at $9,552,000 after buying an additional 1,943 shares during the last quarter.

NewMarket Corporation is a holding company. The Company is the parent company of Afton Chemical Corporation (Afton), Ethyl Corporation (Ethyl), NewMarket Services Corporation (NewMarket Services) and NewMarket Development Corporation (NewMarket Development). It operates in petroleum additives segment, which is primarily represented by Afton.

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