NewMarket (NYSE:NEU) Cut to Buy at StockNews.com

StockNews.com downgraded shares of NewMarket (NYSE:NEU) from a strong-buy rating to a buy rating in a research report sent to investors on Monday.

NewMarket Stock Up 1.1 %

NewMarket stock opened at $539.79 on Monday. The business has a fifty day moving average of $514.74 and a two-hundred day moving average of $534.48. The company has a quick ratio of 1.50, a current ratio of 2.75 and a debt-to-equity ratio of 0.66. The firm has a market cap of $5.18 billion, a P/E ratio of 11.20 and a beta of 0.48. NewMarket has a twelve month low of $480.00 and a twelve month high of $650.00.

NewMarket (NYSE:NEU) last posted its earnings results on Monday, February 3rd. The specialty chemicals company reported $11.56 earnings per share for the quarter. NewMarket had a return on equity of 35.48% and a net margin of 16.59%.

Hedge Funds Weigh In On NewMarket

A number of large investors have recently made changes to their positions in NEU. Creative Planning increased its position in shares of NewMarket by 9.4% during the second quarter. Creative Planning now owns 1,105 shares of the specialty chemicals company’s stock worth $570,000 after purchasing an additional 95 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in shares of NewMarket during the second quarter worth $428,000. GAMMA Investing LLC increased its position in shares of NewMarket by 95.5% during the third quarter. GAMMA Investing LLC now owns 215 shares of the specialty chemicals company’s stock worth $119,000 after purchasing an additional 105 shares in the last quarter. Ritholtz Wealth Management increased its position in shares of NewMarket by 5.9% during the third quarter. Ritholtz Wealth Management now owns 1,748 shares of the specialty chemicals company’s stock worth $965,000 after purchasing an additional 97 shares in the last quarter. Finally, Inspire Investing LLC increased its position in shares of NewMarket by 9.5% during the third quarter. Inspire Investing LLC now owns 749 shares of the specialty chemicals company’s stock worth $413,000 after purchasing an additional 65 shares in the last quarter. 61.09% of the stock is owned by institutional investors and hedge funds.

About NewMarket

NewMarket Corporation, through its subsidiaries, primarily engages in the manufacture and sale of petroleum additives. The company offers lubricant additives for use in various vehicle and industrial applications, including engine oils, transmission fluids, off-road powertrain and hydraulic systems, gear oils, hydraulic oils, turbine oils, and other applications where metal-to-metal moving parts are utilized; engine oil additives designed for passenger cars, motorcycles, on and off-road heavy duty commercial equipment, locomotives, and engines in ocean-going vessels; driveline additives designed for products, such as transmission fluids, axle fluids, and off-road powertrain fluids; and industrial additives designed for products for industrial applications consisting of hydraulic fluids, grease, industrial gear fluids, and industrial specialty applications, such as turbine oils.