NewMarket (NYSE:NEU) Shares Down 11.9% – Here’s Why

Shares of NewMarket Corporation (NYSE:NEU) dropped 11.9% on Thursday . The company traded as low as $619.38 and last traded at $614.5680. 33,512 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 150,993 shares. The stock had previously closed at $697.76.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “buy (b-)” rating on shares of NewMarket in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy”.

NewMarket Stock Performance

The firm has a fifty day moving average of $702.79 and a 200 day moving average of $754.51. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.68 and a quick ratio of 1.43. The stock has a market capitalization of $5.61 billion, a price-to-earnings ratio of 12.62 and a beta of 0.48.

NewMarket (NYSE:NEU) last released its quarterly earnings data on Wednesday, February 11th. The specialty chemicals company reported $8.65 EPS for the quarter. The business had revenue of $635.40 million for the quarter. NewMarket had a return on equity of 28.53% and a net margin of 16.33%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Sequoia Financial Advisors LLC acquired a new stake in shares of NewMarket during the 2nd quarter valued at about $331,000. Nisa Investment Advisors LLC boosted its position in NewMarket by 151.3% during the third quarter. Nisa Investment Advisors LLC now owns 4,118 shares of the specialty chemicals company’s stock worth $3,416,000 after purchasing an additional 2,479 shares in the last quarter. Monument Capital Management acquired a new stake in NewMarket in the third quarter valued at approximately $2,548,000. AlphaQuest LLC grew its holdings in NewMarket by 65,800.0% in the second quarter. AlphaQuest LLC now owns 659 shares of the specialty chemicals company’s stock valued at $455,000 after purchasing an additional 658 shares during the period. Finally, HB Wealth Management LLC increased its position in shares of NewMarket by 643.3% in the third quarter. HB Wealth Management LLC now owns 29,948 shares of the specialty chemicals company’s stock valued at $24,803,000 after buying an additional 25,919 shares in the last quarter. Institutional investors and hedge funds own 61.09% of the company’s stock.

About NewMarket

NewMarket Corporation is a specialty chemicals and lubricants company headquartered in Richmond, Virginia. Through its Valvoline business, the company markets a broad portfolio of automotive aftermarket products, including engine oils, transmission fluids, greases and vehicle care solutions. Valvoline products are distributed through retail and commercial channels as well as a network of quick-lube service centers that provide oil changes, preventive maintenance and related services.

In its chemical additives segment, NewMarket develops, manufactures and sells performance additives for fuels, lubricants and industrial fluids.