NewMarket (NYSE:NEU) Sets New 12-Month High – Here’s What Happened

NewMarket Corporation (NYSE:NEU) reached a new 52-week high on Thursday . The company traded as high as $876.33 and last traded at $862.8310, with a volume of 162423 shares changing hands. The stock had previously closed at $787.62.

Analyst Ratings Changes

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

NewMarket Price Performance

The company’s 50 day moving average price is $782.37 and its 200 day moving average price 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. The company has a market cap of $7.94 billion, a price-to-earnings ratio of 19.71 and a beta of 0.56.

NewMarket (NYSE:NEU) last announced its earnings results on Wednesday, July 29th. The specialty chemicals company reported $14.54 earnings per share (EPS) for the quarter. NewMarket had a net margin of 15.25% and a return on equity of 24.12%. The business had revenue of $747.09 million during the quarter.

Hedge Funds Weigh In On NewMarket

Institutional investors have recently bought and sold shares of the business. Norges Bank acquired a new position in NewMarket during the 4th quarter worth about $64,654,000. AQR Capital Management LLC increased its position in NewMarket by 196.7% in the 3rd quarter. AQR Capital Management LLC now owns 137,943 shares of the specialty chemicals company’s stock valued at $114,246,000 after acquiring an additional 91,458 shares in the last quarter. Caisse de depot et placement du Quebec raised its stake in shares of NewMarket by 376.4% in the third quarter. Caisse de depot et placement du Quebec now owns 99,256 shares of the specialty chemicals company’s stock worth $82,205,000 after acquiring an additional 78,422 shares during the last quarter. Corient Private Wealth LLC raised its stake in shares of NewMarket by 7,743.0% in the fourth quarter. Corient Private Wealth LLC now owns 75,763 shares of the specialty chemicals company’s stock worth $52,069,000 after acquiring an additional 74,797 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of NewMarket by 1,807.5% during the first quarter. Arrowstreet Capital Limited Partnership now owns 54,612 shares of the specialty chemicals company’s stock worth $35,004,000 after purchasing an additional 51,749 shares in the last quarter. Institutional investors own 61.09% of the company’s stock.

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.