NewMarket (NYSE:NEU) Upgraded by StockNews.com to Strong-Buy

StockNews.com upgraded shares of NewMarket (NYSE:NEU) from a buy rating to a strong-buy rating in a report issued on Thursday morning.

NewMarket Stock Performance

NewMarket stock opened at $540.65 on Thursday. The company has a 50 day moving average price of $584.59 and a 200-day moving average price of $572.83. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.60 and a current ratio of 2.86. NewMarket has a fifty-two week low of $389.18 and a fifty-two week high of $650.00. The company has a market capitalization of $5.18 billion, a PE ratio of 13.01 and a beta of 0.51.

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

NewMarket Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a dividend of $2.50 per share. This represents a $10.00 annualized dividend and a yield of 1.85%. The ex-dividend date is Friday, June 14th. NewMarket’s payout ratio is 24.06%.

Hedge Funds Weigh In On NewMarket

Several institutional investors have recently bought and sold shares of NEU. ORG Partners LLC purchased a new position in NewMarket during the first quarter valued at approximately $30,000. UMB Bank n.a. grew its holdings in NewMarket by 64.5% in the first quarter. UMB Bank n.a. now owns 51 shares of the specialty chemicals company’s stock worth $32,000 after purchasing an additional 20 shares during the last quarter. Janiczek Wealth Management LLC grew its holdings in NewMarket by 1,300.0% in the first quarter. Janiczek Wealth Management LLC now owns 56 shares of the specialty chemicals company’s stock worth $36,000 after purchasing an additional 52 shares during the last quarter. FSC Wealth Advisors LLC purchased a new position in NewMarket in the fourth quarter worth $39,000. Finally, Hanseatic Management Services Inc. purchased a new position in NewMarket in the third quarter worth $41,000. 61.09% of the stock is owned by hedge funds and other institutional investors.

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.