NewMarket (NYSE:NEU) Sets New 1-Year High - Still a Buy?

Key Points

• NewMarket shares reached a new 52-week high of $889.91, last trading at about $886.84, well above the previous close of $854.33.
• Analysts upgraded the stock from “hold” to “buy,” giving NewMarket an overall average rating of “Buy.” The company recently reported quarterly EPS of $14.54 on revenue of $747.09 million.
• NewMarket has an $8.16 billion market capitalization, a 19.08 P/E ratio and a 0.47 debt-to-equity ratio. Institutional investors own 61.09% of the company’s shares.

NewMarket Corporation (NYSE:NEU - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $889.91 and last traded at $886.8350, with a volume of 152357 shares changing hands. The stock had previously closed at $854.33.

Analyst Ratings Changes

Several equities research analysts have weighed in on NEU shares. Wall Street Zen upgraded shares of NewMarket from a "hold" rating to a "buy" rating in a report on Saturday. Weiss Ratings raised shares of NewMarket from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, June 12th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, NewMarket presently has an average rating of "Buy".

NewMarket Price Performance

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 $8.16 billion, a P/E ratio of 19.08 and a beta of 0.56. The company has a fifty day moving average price of $792.31 and a two-hundred day moving average price of $701.66.

NewMarket (NYSE:NEU - Get Free Report) last posted its earnings results on Wednesday, July 29th. The specialty chemicals company reported $14.54 earnings per share (EPS) for the quarter. The business 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

Large investors have recently made changes to their positions in the stock. 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 NewMarket during the 4th quarter worth about $27,000. Quarry LP bought a new position in NewMarket during the 3rd quarter worth about $52,000. Towarzystwo Funduszy Inwestycyjnych PZU SA raised its stake in shares of NewMarket by 50.0% in the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 75 shares of the specialty chemicals company's stock valued at $52,000 after purchasing an additional 25 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of NewMarket by 100.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78 shares of the specialty chemicals company's stock valued at $44,000 after purchasing an additional 39 shares during the period. Institutional investors own 61.09% of the company's stock.

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.

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