NewMarket (NYSE:NEU) Upgraded at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen upgraded shares of NewMarket (NYSE:NEU – Free Report) from a hold rating to a buy rating in a research note issued to investors on Saturday.

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

Get Our Latest Research Report on NewMarket

NewMarket Stock Up 0.4%

NewMarket stock opened at $853.84 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.25 and a quick ratio of 1.23. NewMarket has a fifty-two week low of $580.03 and a fifty-two week high of $876.33. The firm has a fifty day moving average price of $789.83 and a two-hundred day moving average price of $700.42. The firm has a market cap of $7.86 billion, a price-to-earnings ratio of 18.37 and a beta of 0.56.

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

Hedge Funds Weigh In On NewMarket

A number of hedge funds have recently made changes to their positions in NEU. Los Angeles Capital Management LLC acquired a new stake in shares of NewMarket during the 4th quarter valued at about $25,000. International Assets Investment Management LLC acquired a new position in NewMarket in the fourth quarter worth about $27,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in NewMarket by 100.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78 shares of the specialty chemicals company’s stock worth $44,000 after purchasing an additional 39 shares in the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA lifted its stake in NewMarket by 50.0% during the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 75 shares of the specialty chemicals company’s stock worth $52,000 after purchasing an additional 25 shares during the period. Finally, Quarry LP bought a new position in NewMarket during the third quarter worth about $52,000. Institutional investors and hedge funds own 61.09% of the company’s stock.

NewMarket Company Profile

(Get Free Report)

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.

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