NewMarket (NYSE:NEU) Releases Earnings Results

NewMarket (NYSE:NEU) announced its earnings results 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 firm had revenue of $635.40 million for the quarter.

NewMarket Stock Performance

Shares of NEU traded down $21.44 during midday trading on Wednesday, reaching $697.81. 168,100 shares of the stock were exchanged, compared to its average volume of 156,289. The stock’s 50 day simple moving average is $703.93 and its 200 day simple moving average is $754.91. The company has a market cap of $6.56 billion, a P/E ratio of 14.74 and a beta of 0.48. NewMarket has a twelve month low of $510.07 and a twelve month high of $875.97. The company has a quick ratio of 1.43, a current ratio of 2.68 and a debt-to-equity ratio of 0.46.

Institutional Trading of NewMarket

Institutional investors have recently bought and sold shares of the business. AQR Capital Management LLC increased its holdings in shares of NewMarket by 196.7% during 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 period. Caisse de depot et placement du Quebec lifted its position in shares of NewMarket by 376.4% during the 3rd quarter. Caisse de depot et placement du Quebec now owns 99,256 shares of the specialty chemicals company’s stock valued at $82,205,000 after acquiring an additional 78,422 shares during the period. Invesco Ltd. grew its holdings in shares of NewMarket by 112.4% during the 3rd quarter. Invesco Ltd. now owns 67,633 shares of the specialty chemicals company’s stock worth $56,014,000 after purchasing an additional 35,789 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of NewMarket by 9.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 46,897 shares of the specialty chemicals company’s stock worth $32,231,000 after purchasing an additional 3,889 shares during the period. Finally, Orion Porfolio Solutions LLC raised its stake in NewMarket by 748.6% in the second quarter. Orion Porfolio Solutions LLC now owns 30,523 shares of the specialty chemicals company’s stock valued at $21,087,000 after purchasing an additional 26,926 shares in the last quarter. Institutional investors own 61.09% of the company’s stock.

Analysts Set New Price Targets

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

About NewMarket

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.