NewMarket (NYSE:NEU) Reaches New 12-Month High - Still a Buy?

Key Points

• NewMarket shares reached a new 52-week high, trading as high as $913.39 and closing activity around $907.22, up 2.0%. The stock has a market capitalization of $8.35 billion and a P/E ratio of 19.52.
• Analyst sentiment is favorable: Weiss Ratings and Wall Street Zen upgraded the stock to “Buy,” while MarketBeat reports a consensus “Buy” rating.
• NewMarket reported quarterly EPS of $14.54 on $747.09 million in revenue, with a 24.62% return on equity and 15.80% net margin. Institutional investors own 61.09% of the company’s shares.

NewMarket Corporation (NYSE:NEU - Get Free Report)'s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $913.39 and last traded at $907.22, with a volume of 132351 shares. The stock had previously closed at $889.71.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Weiss Ratings upgraded NewMarket from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, June 12th. Wall Street Zen raised shares of NewMarket from a "hold" rating to a "buy" rating in a research report on Saturday, August 1st. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has a consensus rating of "Buy".

NewMarket Stock Up 2.0%

The company has a current ratio of 2.25, a quick ratio of 1.23 and a debt-to-equity ratio of 0.47. The firm has a market cap of $8.35 billion, a P/E ratio of 19.52 and a beta of 0.56. The stock's fifty day moving average is $800.88 and its two-hundred day moving average is $708.65.

NewMarket (NYSE:NEU - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The specialty chemicals company reported $14.54 earnings per share (EPS) for the quarter. The company had revenue of $747.09 million during the quarter. NewMarket had a return on equity of 24.62% and a net margin of 15.80%.

Institutional Investors Weigh In On NewMarket

Hedge funds have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in NewMarket by 100.0% in the first 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 in the last quarter. NewEdge Advisors LLC boosted its holdings in shares of NewMarket by 1,442.4% in the 1st quarter. NewEdge Advisors LLC now owns 509 shares of the specialty chemicals company's stock worth $288,000 after purchasing an additional 476 shares in the last quarter. United Services Automobile Association purchased a new position in shares of NewMarket in the 1st quarter worth about $266,000. Empowered Funds LLC increased its position in shares of NewMarket by 4.8% during the 1st quarter. Empowered Funds LLC now owns 1,562 shares of the specialty chemicals company's stock valued at $885,000 after purchasing an additional 72 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of NewMarket by 9.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 22,268 shares of the specialty chemicals company's stock valued at $12,614,000 after purchasing an additional 1,995 shares during the last quarter. 61.09% of the stock is currently owned by institutional investors.

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.

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