NewMarket (NYSE:NEU) Announces Earnings Results

by · The Cerbat Gem

NewMarket (NYSE:NEU – Get Free Report) posted its quarterly earnings data on Wednesday. The specialty chemicals company reported $8.65 EPS for the quarter, Zacks reports. NewMarket had a net margin of 16.33% and a return on equity of 28.53%. The company had revenue of $635.40 million during the quarter.

NewMarket Trading Down 3.0%

NEU traded down $21.44 on Wednesday, reaching $697.81. 168,100 shares of the company traded hands, compared to its average volume of 156,289. The company has a market cap of $6.56 billion, a P/E ratio of 14.74 and a beta of 0.48. The company has a quick ratio of 1.43, a current ratio of 2.68 and a debt-to-equity ratio of 0.46. NewMarket has a one year low of $510.07 and a one year high of $875.97. The firm has a fifty day simple moving average of $703.93 and a two-hundred day simple moving average of $754.91.

Hedge Funds Weigh In On NewMarket

A number of institutional investors have recently modified their holdings of the stock. Los Angeles Capital Management LLC purchased a new stake in shares of NewMarket in the fourth quarter valued at approximately $25,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in NewMarket by 100.0% during 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 in the last quarter. Quarry LP bought a new stake in NewMarket during the 3rd quarter valued at $52,000. EverSource Wealth Advisors LLC lifted its holdings in shares of NewMarket by 88.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 151 shares of the specialty chemicals company’s stock worth $104,000 after buying an additional 71 shares during the period. Finally, State of Wyoming bought a new position in shares of NewMarket during the 2nd quarter worth $189,000. 61.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of NewMarket in a research note on Monday, December 29th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy”.

Get Our Latest Stock Analysis on NEU

About NewMarket

(Get Free Report)

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.

Recommended Stories