NewMarket (NYSE:NEU) Downgraded by StockNews.com to “Buy”

NewMarket (NYSE:NEU) was downgraded by stock analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report released on Wednesday.

NewMarket Stock Up 2.9 %

NewMarket stock opened at $558.32 on Wednesday. The firm has a market cap of $5.36 billion, a price-to-earnings ratio of 11.58 and a beta of 0.48. The business’s 50-day moving average price is $514.81 and its 200 day moving average price is $533.96. The company has a quick ratio of 1.50, a current ratio of 2.75 and a debt-to-equity ratio of 0.66. NewMarket has a 52 week low of $480.00 and a 52 week high of $650.00.

NewMarket (NYSE:NEU) last released its earnings results on Monday, February 3rd. The specialty chemicals company reported $11.56 earnings per share for the quarter. NewMarket had a return on equity of 35.48% and a net margin of 16.59%.

Hedge Funds Weigh In On NewMarket

Several hedge funds and other institutional investors have recently made changes to their positions in NEU. Assetmark Inc. lifted its position in NewMarket by 0.6% during the fourth quarter. Assetmark Inc. now owns 3,118 shares of the specialty chemicals company’s stock worth $1,647,000 after buying an additional 20 shares in the last quarter. Atria Investments Inc lifted its position in NewMarket by 1.6% during the fourth quarter. Atria Investments Inc now owns 1,302 shares of the specialty chemicals company’s stock worth $688,000 after buying an additional 20 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its position in NewMarket by 1.7% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,561 shares of the specialty chemicals company’s stock worth $825,000 after buying an additional 26 shares in the last quarter. Parallel Advisors LLC lifted its position in NewMarket by 4.3% during the fourth quarter. Parallel Advisors LLC now owns 735 shares of the specialty chemicals company’s stock worth $388,000 after buying an additional 30 shares in the last quarter. Finally, Bessemer Group Inc. lifted its position in NewMarket by 166.7% during the fourth quarter. Bessemer Group Inc. now owns 48 shares of the specialty chemicals company’s stock worth $25,000 after buying an additional 30 shares in the last quarter. Hedge funds and other institutional investors own 61.09% of the company’s stock.

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.