NewMarket (NYSE:NEU) Reaches New 1-Year High - Should You Buy?

Key Points

• NewMarket shares reached a new 52-week high, trading as high as $876.33 and closing around $862.83—up 9.5% from the prior close.
• Weiss Ratings upgraded the stock from “hold (C+)” to “buy (B-)”; MarketBeat reports a consensus “Buy” rating based on one analyst’s recommendation.
• NewMarket reported quarterly EPS of $14.54 on $747.09 million in revenue, with a 15.25% net margin and 24.12% return on equity. Institutional investors and hedge funds own 61.09% of the company.

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

Wall Street Analyst Weigh In

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 research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock currently has a consensus rating of "Buy".

NewMarket Trading Up 9.5%

The firm has a market cap of $7.94 billion, a P/E ratio of 19.71 and a beta of 0.56. The company's 50 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 current ratio of 2.55 and a quick ratio of 1.37.

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Los Angeles Capital Management LLC bought a new stake in NewMarket in the 4th quarter valued at $25,000. International Assets Investment Management LLC bought a new position in shares of NewMarket during the 4th quarter worth about $27,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of 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 worth $44,000 after acquiring an additional 39 shares during the period. Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its position in shares of NewMarket by 50.0% during the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 75 shares of the specialty chemicals company's stock valued at $52,000 after acquiring an additional 25 shares in the last quarter. Finally, Quarry LP acquired a new stake in shares of NewMarket during the 3rd quarter valued at about $52,000. 61.09% of the stock is currently owned by institutional investors and hedge funds.

NewMarket Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.