NewMarket (NYSE:NEU) Upgraded by StockNews.com to Strong-Buy

StockNews.com upgraded shares of NewMarket (NYSE:NEU) from a buy rating to a strong-buy rating in a research note released on Tuesday.

NewMarket Price Performance

Shares of NYSE NEU traded down $0.21 during mid-day trading on Tuesday, reaching $545.99. The company had a trading volume of 18,860 shares, compared to its average volume of 39,181. The company has a 50-day moving average price of $534.17 and a two-hundred day moving average price of $569.90. The stock has a market cap of $5.24 billion, a PE ratio of 13.13 and a beta of 0.47. The company has a current ratio of 2.66, a quick ratio of 1.60 and a debt-to-equity ratio of 0.95. NewMarket has a 1-year low of $436.90 and a 1-year high of $650.00.

NewMarket (NYSE:NEU) last issued its quarterly earnings results on Monday, July 29th. The specialty chemicals company reported $11.63 earnings per share for the quarter. NewMarket had a return on equity of 37.06% and a net margin of 15.12%. The firm had revenue of $710.23 million for the quarter.

NewMarket Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 16th will be paid a $2.50 dividend. This represents a $10.00 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date is Monday, September 16th. NewMarket’s dividend payout ratio is 24.06%.

Institutional Trading of NewMarket

Hedge funds have recently modified their holdings of the business. Raymond James & Associates raised its position in NewMarket by 35.2% during the fourth quarter. Raymond James & Associates now owns 1,165 shares of the specialty chemicals company’s stock valued at $636,000 after buying an additional 303 shares during the period. Raymond James Financial Services Advisors Inc. acquired a new position in shares of NewMarket in the 4th quarter valued at about $353,000. International Assets Investment Management LLC lifted its position in shares of NewMarket by 54,482.1% in the fourth quarter. International Assets Investment Management LLC now owns 21,287 shares of the specialty chemicals company’s stock worth $11,619,000 after purchasing an additional 21,248 shares in the last quarter. Arkadios Wealth Advisors acquired a new stake in shares of NewMarket during the fourth quarter worth approximately $328,000. Finally, New York State Teachers Retirement System grew its position in NewMarket by 3.4% during the fourth quarter. New York State Teachers Retirement System now owns 9,193 shares of the specialty chemicals company’s stock valued at $5,018,000 after purchasing an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 61.09% of the company’s stock.

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.