StockNews.com Upgrades NewMarket (NYSE:NEU) to “Strong-Buy”

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

NewMarket Trading Down 0.8 %

NYSE NEU opened at $554.89 on Tuesday. The company has a quick ratio of 1.60, a current ratio of 2.86 and a debt-to-equity ratio of 1.11. The firm has a 50-day moving average price of $593.97 and a 200 day moving average price of $570.76. NewMarket has a 52-week low of $389.18 and a 52-week high of $650.00. The stock has a market capitalization of $5.32 billion, a P/E ratio of 13.35 and a beta of 0.51.

NewMarket (NYSE:NEUGet Free Report) last released its quarterly earnings data on Wednesday, April 24th. The specialty chemicals company reported $11.23 earnings per share (EPS) for the quarter. NewMarket had a return on equity of 38.99% and a net margin of 14.82%. The firm had revenue of $696.74 million during the quarter.

NewMarket Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be issued a $2.50 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $10.00 dividend on an annualized basis and a yield of 1.80%. NewMarket’s dividend payout ratio (DPR) is presently 24.06%.

Institutional Investors Weigh In On NewMarket

Institutional investors have recently modified their holdings of the company. London Co. of Virginia boosted its position in NewMarket by 0.3% during the third quarter. London Co. of Virginia now owns 664,683 shares of the specialty chemicals company’s stock worth $302,457,000 after purchasing an additional 1,796 shares in the last quarter. International Assets Investment Management LLC increased its holdings in NewMarket by 54,482.1% during the 4th quarter. International Assets Investment Management LLC now owns 21,287 shares of the specialty chemicals company’s stock valued at $11,619,000 after acquiring an additional 21,248 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in shares of NewMarket by 254.4% in the fourth quarter. Mackenzie Financial Corp now owns 7,571 shares of the specialty chemicals company’s stock valued at $4,132,000 after purchasing an additional 5,435 shares in the last quarter. Invesco Ltd. grew its position in shares of NewMarket by 41.2% in the third quarter. Invesco Ltd. now owns 105,136 shares of the specialty chemicals company’s stock valued at $47,841,000 after purchasing an additional 30,694 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in shares of NewMarket by 57.8% during the 3rd quarter. Envestnet Asset Management Inc. now owns 26,096 shares of the specialty chemicals company’s stock worth $11,875,000 after purchasing an additional 9,557 shares in the last quarter. Hedge funds and other institutional investors own 61.09% of the company’s stock.

NewMarket Company Profile

(Get Free Report)

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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