NewMarket (NYSE:NEU) Posts Quarterly Earnings Results

NewMarket (NYSE:NEU) issued its quarterly earnings results on Wednesday. The specialty chemicals company reported $14.54 earnings per share for the quarter, FiscalAI reports. NewMarket had a return on equity of 25.00% and a net margin of 15.80%.The company had revenue of $747.09 million during the quarter.

NewMarket Stock Down 2.0%

NewMarket stock traded down $17.14 during midday trading on Friday, reaching $849.88. The stock had a trading volume of 31,193 shares, compared to its average volume of 129,347. The company has a fifty day moving average price of $785.20 and a two-hundred day moving average price of $698.48. NewMarket has a 12 month low of $580.03 and a 12 month high of $876.33. The company has a current ratio of 2.55, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $7.82 billion, a P/E ratio of 18.32 and a beta of 0.56.

Institutional Investors Weigh In On NewMarket

A number of hedge funds have recently added to or reduced their stakes in NEU. Los Angeles Capital Management LLC bought a new position in NewMarket in the 4th quarter valued at about $25,000. International Assets Investment Management LLC purchased a new stake in NewMarket in the 4th quarter valued at $27,000. Quarry LP bought a new position in NewMarket during the 3rd quarter valued at $52,000. Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its holdings in NewMarket by 50.0% during the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 75 shares of the specialty chemicals company’s stock worth $52,000 after acquiring an additional 25 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of NewMarket by 100.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78 shares of the specialty chemicals company’s stock worth $44,000 after acquiring an additional 39 shares in the last quarter. Institutional investors and hedge funds own 61.09% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised shares of NewMarket from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, June 12th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, NewMarket presently has a consensus rating of “Buy”.

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.