NewMarket Corporation (NEU) Downgraded by BidaskClub to “Sell”
NewMarket Corporation (NYSE:NEU) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.
NewMarket Corporation (NYSE NEU) opened at 436.04 on Friday. The company’s 50-day moving average price is $460.98 and its 200 day moving average price is $452.62. NewMarket Corporation has a 52 week low of $386.90 and a 52 week high of $483.86. The company has a market capitalization of $5.17 billion, a price-to-earnings ratio of 21.19 and a beta of 0.74.
NewMarket Corporation (NYSE:NEU) last issued its quarterly earnings data on Wednesday, August 2nd. The specialty chemicals company reported $5.29 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $5.73 by $0.44. The company had revenue of $547.20 million for the quarter, compared to analyst estimates of $570.10 million. NewMarket Corporation had a return on equity of 46.94% and a net margin of 11.57%. The company’s revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the business earned $5.50 earnings per share. On average, analysts predict that NewMarket Corporation will post $20.56 EPS for the current year.
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In other NewMarket Corporation news, insider Robert A. Shama sold 230 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $458.60, for a total transaction of $105,478.00. Following the completion of the sale, the insider now directly owns 1,850 shares in the company, valued at $848,410. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 16.83% of the company’s stock.
Large investors have recently modified their holdings of the company. CENTRAL TRUST Co boosted its position in shares of NewMarket Corporation by 3.0% in the first quarter. CENTRAL TRUST Co now owns 414 shares of the specialty chemicals company’s stock valued at $188,000 after buying an additional 12 shares in the last quarter. Creative Planning boosted its position in shares of NewMarket Corporation by 15.5% in the first quarter. Creative Planning now owns 969 shares of the specialty chemicals company’s stock valued at $439,000 after buying an additional 130 shares in the last quarter. Capstone Asset Management Co. boosted its position in shares of NewMarket Corporation by 25.8% in the first quarter. Capstone Asset Management Co. now owns 1,186 shares of the specialty chemicals company’s stock valued at $538,000 after buying an additional 243 shares in the last quarter. Hudson Valley Investment Advisors Inc. ADV acquired a new position in shares of NewMarket Corporation during the first quarter valued at approximately $227,000. Finally, Waldron LP acquired a new position in shares of NewMarket Corporation during the first quarter valued at approximately $225,000. Hedge funds and other institutional investors own 56.64% of the company’s stock.
NewMarket Corporation Company Profile
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). The Company operates through petroleum additives segment, which is primarily represented by Afton.
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