NewMarket Corporation (NYSE:NEU) Sees Large Growth in Short Interest

NewMarket Corporation (NYSE:NEU) saw a large increase in short interest in January. As of January 15th, there was short interest totaling 307,236 shares, an increase of 34.2% from the December 31st total of 228,879 shares. Based on an average daily volume of 160,614 shares, the short-interest ratio is presently 1.9 days. Approximately 4.0% of the company’s shares are sold short. Approximately 4.0% of the company’s shares are sold short. Based on an average daily volume of 160,614 shares, the short-interest ratio is presently 1.9 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “buy (b-)” rating on shares of NewMarket in a research note on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy”.

NewMarket Stock Up 1.5%

NewMarket stock traded up $10.21 during midday trading on Tuesday, reaching $689.02. The stock had a trading volume of 102,784 shares, compared to its average volume of 148,073. The company has a fifty day moving average price of $709.74 and a two-hundred day moving average price of $755.29. NewMarket has a 12 month low of $498.16 and a 12 month high of $875.97. The company has a current ratio of 2.68, a quick ratio of 1.43 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $6.48 billion, a P/E ratio of 14.55 and a beta of 0.48.

Institutional Trading of NewMarket

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in shares of NewMarket by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 828,798 shares of the specialty chemicals company’s stock valued at $569,600,000 after buying an additional 15,813 shares in the last quarter. LSV Asset Management raised its holdings in shares of NewMarket by 2.4% in the 3rd quarter. LSV Asset Management now owns 268,432 shares of the specialty chemicals company’s stock worth $222,318,000 after acquiring an additional 6,284 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in NewMarket by 1.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 179,702 shares of the specialty chemicals company’s stock valued at $148,820,000 after acquiring an additional 2,049 shares in the last quarter. Geode Capital Management LLC boosted its stake in NewMarket by 20.1% during the 2nd quarter. Geode Capital Management LLC now owns 156,613 shares of the specialty chemicals company’s stock valued at $108,212,000 after purchasing an additional 26,254 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of NewMarket by 196.7% in the third quarter. AQR Capital Management LLC now owns 137,943 shares of the specialty chemicals company’s stock worth $114,246,000 after purchasing an additional 91,458 shares during the last quarter. Institutional investors and hedge funds own 61.09% of the company’s stock.

NewMarket Company Profile

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.