NewMarket (NYSE:NEU) Issues Quarterly Earnings Results

Key Points

• NewMarket reported earnings of $11.84 per share with a return on equity of 34.45% and a net margin of 17.22%.
• The company's stock decreased by 0.8%, trading at $681.81 after a volume of 101,874 shares was exchanged.
• Institutional investors hold 61.09% of the company's stock, with notable increases in stakes from several hedge funds in the first quarter.

NewMarket (NYSE:NEU - Get Free Report) released its earnings results on Wednesday. The specialty chemicals company reported $11.84 EPS for the quarter, Zacks reports. The firm 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 Stock Performance

Shares of NEU stock traded up $12.10 during trading on Friday, reaching $699.10. 69,833 shares of the company's stock were exchanged, compared to its average volume of 77,206. NewMarket has a twelve month low of $480.00 and a twelve month high of $743.52. The firm's fifty day moving average price is $685.20 and its 200-day moving average price is $603.07. The company has a quick ratio of 1.60, a current ratio of 2.66 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $6.60 billion, a PE ratio of 13.86 and a beta of 0.45.

Insider Activity

In other NewMarket news, CAO Bruce R. Hazelgrove III sold 311 shares of the business's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $642.43, for a total value of $199,795.73. Following the completion of the sale, the chief accounting officer owned 358 shares of the company's stock, valued at $229,989.94. The trade was a 46.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 19.10% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of NEU. Jane Street Group LLC lifted its holdings in NewMarket by 1,081.3% in the first quarter. Jane Street Group LLC now owns 10,974 shares of the specialty chemicals company's stock valued at $6,216,000 after buying an additional 10,045 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of NewMarket by 9.8% in 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 worth $12,614,000 after acquiring an additional 1,995 shares in the last quarter. Empowered Funds LLC lifted its stake in shares of NewMarket by 4.8% in 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 period. United Services Automobile Association bought a new stake in shares of NewMarket during the 1st quarter valued at about $266,000. Finally, NewEdge Advisors LLC grew its stake in NewMarket by 1,442.4% during the first quarter. NewEdge Advisors LLC now owns 509 shares of the specialty chemicals company's stock worth $288,000 after purchasing an additional 476 shares during the period. 61.09% of the stock is currently owned by institutional investors and hedge funds.

NewMarket Company Profile

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.