NewMarket (NYSE:NEU) Issues Earnings Results

NewMarket (NYSE:NEU) announced its quarterly earnings data on Wednesday. The specialty chemicals company reported $14.54 earnings per share for the quarter, FiscalAI reports. The company had revenue of $747.09 million during the quarter. NewMarket had a net margin of 15.25% and a return on equity of 24.12%.

NewMarket Stock Up 0.6%

Shares of NYSE:NEU opened at $787.87 on Thursday. The stock has a market capitalization of $7.25 billion, a price-to-earnings ratio of 18.00 and a beta of 0.56. NewMarket has a 1-year low of $580.03 and a 1-year high of $875.97. The company’s fifty day moving average is $782.37 and its two-hundred day moving average is $697.49. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 2.55.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Strs Ohio raised its stake in NewMarket by 12.7% during the first quarter. Strs Ohio now owns 151 shares of the specialty chemicals company’s stock worth $97,000 after acquiring an additional 17 shares during the period. The Manufacturers Life Insurance Company boosted its stake in NewMarket by 0.3% in the first quarter. The Manufacturers Life Insurance Company now owns 5,253 shares of the specialty chemicals company’s stock valued at $3,367,000 after acquiring an additional 17 shares during the period. Kesler Norman & Wride LLC grew its holdings in shares of NewMarket by 1.6% during the first quarter. Kesler Norman & Wride LLC now owns 1,227 shares of the specialty chemicals company’s stock valued at $786,000 after purchasing an additional 19 shares during the last quarter. Great Lakes Advisors LLC raised its position in shares of NewMarket by 5.5% during the 4th quarter. Great Lakes Advisors LLC now owns 366 shares of the specialty chemicals company’s stock worth $252,000 after purchasing an additional 19 shares during the period. Finally, Abel Hall LLC raised its position in shares of NewMarket by 6.3% during the 4th quarter. Abel Hall LLC now owns 335 shares of the specialty chemicals company’s stock worth $230,000 after purchasing an additional 20 shares during the period. 61.09% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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 analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock 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.