NewMarket (NYSE:NEU) Sets New 1-Year High – Still a Buy?

NewMarket Corporation (NYSE:NEU)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $889.91 and last traded at $886.8350, with a volume of 152357 shares trading hands. The stock had previously closed at $854.33.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Weiss Ratings upgraded NewMarket from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, June 12th. Wall Street Zen raised shares of NewMarket from a “hold” rating to a “buy” rating in a research note on Saturday. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, NewMarket currently has an average rating of “Buy”.

NewMarket Stock Up 3.8%

The firm’s 50-day simple moving average is $792.31 and its 200 day simple moving average is $701.66. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.23 and a current ratio of 2.25. The stock has a market capitalization of $8.16 billion, a P/E ratio of 19.08 and a beta of 0.56.

NewMarket (NYSE:NEU) last announced its quarterly earnings data on Wednesday, July 29th. The specialty chemicals company reported $14.54 earnings per share for the quarter. The company had revenue of $747.09 million during the quarter. NewMarket had a return on equity of 24.62% and a net margin of 15.80%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NEU. Norges Bank bought a new position in NewMarket in the fourth quarter valued at approximately $64,654,000. AQR Capital Management LLC raised its stake in shares of NewMarket by 196.7% during the 3rd quarter. AQR Capital Management LLC now owns 137,943 shares of the specialty chemicals company’s stock worth $114,246,000 after purchasing an additional 91,458 shares in the last quarter. Caisse de depot et placement du Quebec raised its stake in shares of NewMarket by 376.4% during the 3rd quarter. Caisse de depot et placement du Quebec now owns 99,256 shares of the specialty chemicals company’s stock worth $82,205,000 after purchasing an additional 78,422 shares in the last quarter. Corient Private Wealth LLC boosted its holdings in shares of NewMarket by 7,743.0% in the 4th quarter. Corient Private Wealth LLC now owns 75,763 shares of the specialty chemicals company’s stock valued at $52,069,000 after buying an additional 74,797 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in shares of NewMarket by 1,807.5% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 54,612 shares of the specialty chemicals company’s stock valued at $35,004,000 after buying an additional 51,749 shares during the last quarter. 61.09% of the stock is owned by institutional investors and hedge funds.

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.