Short Interest in NewMarket Corporation (NYSE:NEU) Rises By 34.2%

NewMarket Corporation (NYSE:NEU) saw a significant growth in short interest in the month of January. As of January 15th, there was short interest totaling 307,236 shares, a growth of 34.2% from the December 31st total of 228,879 shares. Based on an average trading volume of 160,614 shares, the days-to-cover ratio is presently 1.9 days. Currently, 4.0% of the shares of the company are sold short. Currently, 4.0% of the shares of the company are sold short. Based on an average trading volume of 160,614 shares, the days-to-cover ratio is presently 1.9 days.

NewMarket Stock Performance

Shares of NYSE NEU traded up $10.70 during trading hours on Tuesday, reaching $689.51. The stock had a trading volume of 134,149 shares, compared to its average volume of 149,464. The company has a market cap of $6.48 billion, a price-to-earnings ratio of 14.51 and a beta of 0.48. NewMarket has a twelve month low of $498.16 and a twelve month high of $875.97. The business’s fifty day moving average is $709.74 and its two-hundred day moving average is $755.29. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.68 and a quick ratio of 1.43.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “buy (b-)” rating on shares of NewMarket in a report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy”.

Hedge Funds Weigh In On NewMarket

Hedge funds have recently modified their holdings of the stock. Ameriflex Group Inc. bought a new position in shares of NewMarket in the third quarter worth about $27,000. Winnow Wealth LLC bought a new position in NewMarket in the 3rd quarter worth approximately $29,000. Root Financial Partners LLC bought a new position in NewMarket in the 3rd quarter valued at $30,000. International Assets Investment Management LLC bought a new stake in shares of NewMarket during the fourth quarter worth $27,000. Finally, Smartleaf Asset Management LLC raised its position in shares of NewMarket by 125.0% during the third quarter. Smartleaf Asset Management LLC now owns 45 shares of the specialty chemicals company’s stock worth $37,000 after acquiring an additional 25 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.