NewMarket (NYSE:NEU) Lifted to Strong-Buy at StockNews.com

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

NewMarket Trading Down 0.0 %

Shares of NEU traded down $0.21 during trading hours on Tuesday, reaching $545.99. The stock had a trading volume of 18,860 shares, compared to its average volume of 39,181. The company has a market cap of $5.24 billion, a P/E ratio of 13.13 and a beta of 0.47. NewMarket has a 52 week low of $436.90 and a 52 week high of $650.00. The company has a quick ratio of 1.60, a current ratio of 2.66 and a debt-to-equity ratio of 0.95. The firm has a 50-day moving average of $534.17 and a 200 day moving average of $569.90.

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

NewMarket Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders 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 payout ratio is currently 24.06%.

Institutional Investors Weigh In On NewMarket

Several large investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP increased its holdings in NewMarket by 1.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 146,589 shares of the specialty chemicals company’s stock worth $80,015,000 after purchasing an additional 1,958 shares in the last quarter. Treasurer of the State of North Carolina grew its holdings in shares of NewMarket by 51.9% during the fourth quarter. Treasurer of the State of North Carolina now owns 4,160 shares of the specialty chemicals company’s stock worth $2,271,000 after buying an additional 1,421 shares in the last quarter. Inceptionr LLC acquired a new stake in NewMarket in the 4th quarter valued at approximately $821,000. Mackenzie Financial Corp lifted its stake in NewMarket by 254.4% in the 4th quarter. Mackenzie Financial Corp now owns 7,571 shares of the specialty chemicals company’s stock valued at $4,132,000 after acquiring an additional 5,435 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its position 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 worth $11,619,000 after acquiring an additional 21,248 shares during the last quarter. 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.