NewMarket Corp. (NEU) Trading Down 2.8%
NewMarket Corp. (NYSE:NEU)’s share price was down 2.8% during trading on Friday . The stock traded as low as $427.36 and last traded at $427.94, with a volume of 57,885 shares trading hands. The stock had previously closed at $440.46.
Several equities analysts have commented on NEU shares. Zacks Investment Research upgraded shares of NewMarket Corp. from a “hold” rating to a “buy” rating and set a $458.00 price objective for the company in a research report on Tuesday, May 3rd. Longbow Research lowered shares of NewMarket Corp. from a “buy” rating to a “neutral” rating in a research report on Friday.
The firm has a market capitalization of $5.07 billion and a price-to-earnings ratio of 21.16. The company’s 50-day moving average is $412.41 and its 200-day moving average is $391.38.
NewMarket Corp. (NYSE:NEU) last posted its earnings results on Wednesday, July 27th. The company reported $5.50 earnings per share for the quarter, beating the consensus estimate 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 period last year, the firm earned $4.65 earnings per share. NewMarket Corp.’s revenue for the quarter was down 6.9% compared to the same quarter last year. Equities research analysts forecast that NewMarket Corp. will post $20.30 EPS for the current fiscal year.
Other institutional investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. raised its position 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 period. Freestone Capital Holdings LLC raised its position 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 period. Suntrust Banks Inc. purchased a new position in NewMarket Corp. during the fourth quarter valued at $2,765,000. Wells Fargo & Company MN raised its position 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 period. Finally, Morgan Stanley raised its position 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 period.
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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