NewMarket's (NEU) "Buy (B+)" Rating Reaffirmed at Weiss Ratings

Key Points

• NewMarket's stock has had its "buy (B+)" rating reaffirmed by Weiss Ratings, while Wall Street Zen recently downgraded the stock from "buy" to "hold."
• The company's recent performance includes a reported $11.84 EPS and revenues of $698.51 million for the past quarter.
• Institutional ownership accounts for 61.09% of NewMarket's shares, with significant increases in holdings reported from various investors.

NewMarket (NYSE:NEU - Get Free Report)'s stock had its "buy (b+)" rating reissued by analysts at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

Separately, Wall Street Zen cut NewMarket from a "buy" rating to a "hold" rating in a research note on Saturday, August 30th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, NewMarket has a consensus rating of "Buy".

NewMarket Stock Performance

Shares of NYSE NEU traded down $21.90 during midday trading on Wednesday, reaching $851.19. The company had a trading volume of 46,978 shares, compared to its average volume of 79,932. NewMarket has a 1 year low of $480.00 and a 1 year high of $875.97. The business's 50-day simple moving average is $801.61 and its 200 day simple moving average is $694.30. The company has a current ratio of 2.66, a quick ratio of 1.43 and a debt-to-equity ratio of 0.52. The stock has a market cap of $8.00 billion, a P/E ratio of 16.94 and a beta of 0.45.

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Aaron Wealth Advisors LLC acquired a new stake in shares of NewMarket during the 3rd quarter worth approximately $246,000. GAMMA Investing LLC boosted its holdings in NewMarket by 7.3% during the third quarter. GAMMA Investing LLC now owns 220 shares of the specialty chemicals company's stock worth $182,000 after buying an additional 15 shares in the last quarter. Corient Private Wealth LLC grew its position in NewMarket by 8.4% during the second quarter. Corient Private Wealth LLC now owns 763 shares of the specialty chemicals company's stock valued at $527,000 after buying an additional 59 shares during the period. Osaic Holdings Inc. increased its holdings in NewMarket by 18.8% in the second quarter. Osaic Holdings Inc. now owns 1,364 shares of the specialty chemicals company's stock valued at $922,000 after buying an additional 216 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its position in shares of NewMarket by 41.4% in the second quarter. Thrivent Financial for Lutherans now owns 2,526 shares of the specialty chemicals company's stock worth $1,745,000 after acquiring an additional 739 shares during the period. 61.09% of the stock is owned by institutional investors and hedge funds.

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.

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