NewMarket (NYSE:NEU) Posts Earnings Results

NewMarket (NYSE:NEU) posted its quarterly earnings data on Wednesday. The specialty chemicals company reported $14.54 earnings per share (EPS) for the quarter, FiscalAI reports. The business had revenue of $747.09 million for the quarter. NewMarket had a return on equity of 24.12% and a net margin of 15.25%.

NewMarket Stock Up 0.6%

NEU traded up $4.94 during trading hours on Wednesday, reaching $787.87. 104,781 shares of the stock traded hands, compared to its average volume of 129,839. NewMarket has a fifty-two week low of $580.03 and a fifty-two week high of $875.97. The company has a market cap of $7.25 billion, a price-to-earnings ratio of 18.00 and a beta of 0.56. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.55 and a quick ratio of 1.37. The firm’s fifty day simple moving average is $780.77 and its two-hundred day simple moving average is $696.98.

Hedge Funds Weigh In On NewMarket

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of NewMarket by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 828,798 shares of the specialty chemicals company’s stock worth $569,600,000 after buying an additional 15,813 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in NewMarket by 6.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 194,507 shares of the specialty chemicals company’s stock worth $124,658,000 after acquiring an additional 12,172 shares in the last quarter. Geode Capital Management LLC increased its position in shares of NewMarket by 5.4% in the 4th quarter. Geode Capital Management LLC now owns 175,649 shares of the specialty chemicals company’s stock worth $120,737,000 after purchasing an additional 8,978 shares during the last quarter. AQR Capital Management LLC increased its position in shares of NewMarket by 196.7% in the 3rd 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. Finally, Caisse de depot et placement du Quebec raised its stake in shares of NewMarket by 16.9% in the 4th quarter. Caisse de depot et placement du Quebec now owns 116,002 shares of the specialty chemicals company’s stock valued at $79,724,000 after purchasing an additional 16,746 shares in the last quarter. 61.09% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded NewMarket from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, June 12th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, NewMarket has a consensus rating of “Buy”.

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.