NewMarket (NYSE:NEU) Lowered to Hold Rating by Wall Street Zen

Key Points

• NewMarket has been downgraded from a "buy" to a "hold" rating by Wall Street Zen, indicating a shift in investor sentiment.
• The company's stock has fluctuated, with a 12-month high of $829.25 and a low of $480.00, currently trading around $826.87.
• Institutional investors and hedge funds own over 61% of NewMarket's stock, showing significant interest from larger investment entities.

Wall Street Zen lowered shares of NewMarket (NYSE:NEU - Free Report) from a buy rating to a hold rating in a report released on Saturday.

NewMarket Stock Up 1.0%

NEU traded up $8.12 during trading on Friday, reaching $819.47. 100,017 shares of the stock were exchanged, compared to its average volume of 97,151. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.43 and a current ratio of 2.66. The stock's 50 day moving average price is $747.50 and its two-hundred day moving average price is $647.09. NewMarket has a twelve month low of $480.00 and a twelve month high of $835.10. The stock has a market cap of $7.70 billion, a P/E ratio of 16.24 and a beta of 0.49.

NewMarket (NYSE:NEU - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The specialty chemicals company reported $11.84 EPS for the quarter. The company had revenue of $698.51 million during the quarter. NewMarket had a net margin of 17.28% and a return on equity of 32.25%.

NewMarket Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be paid a $2.75 dividend. The ex-dividend date is Monday, September 15th. This represents a $11.00 annualized dividend and a yield of 1.3%. NewMarket's dividend payout ratio is currently 21.80%.

Institutional Investors Weigh In On NewMarket

A number of large investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC lifted its position in NewMarket by 54,160.0% during the first quarter. GAMMA Investing LLC now owns 103,094 shares of the specialty chemicals company's stock worth $58,398,000 after acquiring an additional 102,904 shares during the last quarter. Norges Bank acquired a new position in shares of NewMarket in the second quarter valued at approximately $51,515,000. Impala Asset Management LLC bought a new position in shares of NewMarket during the first quarter worth approximately $36,819,000. American Century Companies Inc. lifted its holdings in NewMarket by 120.3% during the 1st quarter. American Century Companies Inc. now owns 105,120 shares of the specialty chemicals company's stock worth $59,545,000 after purchasing an additional 57,403 shares during the last quarter. Finally, LSV Asset Management boosted its stake in NewMarket by 27.8% in the 2nd quarter. LSV Asset Management now owns 262,148 shares of the specialty chemicals company's stock valued at $181,108,000 after purchasing an additional 57,101 shares during the period. Institutional investors own 61.09% of the company's stock.

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.