NewMarket (NYSE:NEU) Hits New 12-Month High – Time to Buy?

NewMarket Corporation (NYSE:NEU)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $913.39 and last traded at $907.22, with a volume of 132351 shares trading hands. The stock had previously closed at $889.71.

Analyst Ratings Changes

NEU has been the subject of a number of research analyst reports. Weiss Ratings upgraded NewMarket from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, June 12th. Wall Street Zen upgraded shares of NewMarket from a “hold” rating to a “buy” rating in a report on Saturday, August 1st. One analyst has rated the stock with a Buy rating, According to MarketBeat, NewMarket presently has a consensus rating of “Buy”.

NewMarket Trading Up 2.1%

The company has a market cap of $8.61 billion, a PE ratio of 20.14 and a beta of 0.56. The company has a quick ratio of 1.23, a current ratio of 2.25 and a debt-to-equity ratio of 0.47. The business has a 50-day simple moving average of $806.61 and a 200-day simple moving average of $712.62.

NewMarket (NYSE:NEU) last released its quarterly earnings results on Wednesday, July 29th. The specialty chemicals company reported $14.54 EPS for the quarter. NewMarket had a return on equity of 24.62% and a net margin of 15.80%.The business had revenue of $747.09 million during the quarter.

Hedge Funds Weigh In On NewMarket

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new position in NewMarket in the 2nd quarter valued at about $556,339,000. Norges Bank acquired a new stake in shares of NewMarket during the fourth quarter worth about $64,654,000. AQR Capital Management LLC lifted its position 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 in the last quarter. Caisse de depot et placement du Quebec boosted its stake in shares of NewMarket by 376.4% in the third 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 purchasing an additional 78,422 shares during the period. Finally, Corient Private Wealth LLC boosted its stake in shares of NewMarket by 7,743.0% in the fourth quarter. Corient Private Wealth LLC now owns 75,763 shares of the specialty chemicals company’s stock valued at $52,069,000 after purchasing an additional 74,797 shares during the period. 61.09% of the stock is currently owned by hedge funds and other institutional investors.

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.