NewMarket (NYSE:NEU) Announces Earnings Results

NewMarket (NYSE:NEU) posted its quarterly earnings data on Wednesday. The specialty chemicals company reported $8.65 EPS for the quarter, Zacks reports. NewMarket had a net margin of 16.33% and a return on equity of 28.53%. The company had revenue of $635.40 million during the quarter.

NewMarket Trading Down 3.0%

NEU traded down $21.44 on Wednesday, reaching $697.81. 168,100 shares of the company traded hands, compared to its average volume of 156,289. The company has a market cap of $6.56 billion, a P/E ratio of 14.74 and a beta of 0.48. The company has a quick ratio of 1.43, a current ratio of 2.68 and a debt-to-equity ratio of 0.46. NewMarket has a one year low of $510.07 and a one year high of $875.97. The firm has a fifty day simple moving average of $703.93 and a two-hundred day simple moving average of $754.91.

Hedge Funds Weigh In On NewMarket

A number of institutional investors have recently modified their holdings of the stock. Los Angeles Capital Management LLC purchased a new stake in shares of NewMarket in the fourth quarter valued at approximately $25,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in NewMarket by 100.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78 shares of the specialty chemicals company’s stock valued at $44,000 after purchasing an additional 39 shares in the last quarter. Quarry LP bought a new stake in NewMarket during the 3rd quarter valued at $52,000. EverSource Wealth Advisors LLC lifted its holdings in shares of NewMarket by 88.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 151 shares of the specialty chemicals company’s stock worth $104,000 after buying an additional 71 shares during the period. Finally, State of Wyoming bought a new position in shares of NewMarket during the 2nd quarter worth $189,000. 61.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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