NewMarket (NYSE:NEU) Lifted to “Buy” at StockNews.com

StockNews.com upgraded shares of NewMarket (NYSE:NEUGet Rating) from a hold rating to a buy rating in a research note published on Saturday morning.

Separately, TheStreet lowered shares of NewMarket from a b rating to a c rating in a research note on Thursday, February 3rd.

Shares of NYSE:NEU opened at $336.05 on Friday. NewMarket has a 12 month low of $296.05 and a 12 month high of $378.63. The company’s 50-day moving average price is $327.85 and its two-hundred day moving average price is $332.47. The company has a quick ratio of 1.43, a current ratio of 2.71 and a debt-to-equity ratio of 1.11. The firm has a market cap of $3.45 billion, a P/E ratio of 19.83 and a beta of 0.32.

The company also recently declared a quarterly dividend, which will be paid on Friday, July 1st. Investors of record on Wednesday, June 15th will be given a $2.10 dividend. The ex-dividend date is Tuesday, June 14th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 2.50%. NewMarket’s dividend payout ratio is 49.56%.

Several large investors have recently made changes to their positions in the stock. Swiss National Bank raised its position in shares of NewMarket by 4.1% in the 1st quarter. Swiss National Bank now owns 20,100 shares of the specialty chemicals company’s stock valued at $6,520,000 after acquiring an additional 800 shares during the period. Teacher Retirement System of Texas raised its holdings in NewMarket by 5.4% during the 1st quarter. Teacher Retirement System of Texas now owns 1,760 shares of the specialty chemicals company’s stock worth $571,000 after buying an additional 90 shares during the period. Russell Investments Group Ltd. raised its holdings in NewMarket by 17.2% during the 1st quarter. Russell Investments Group Ltd. now owns 1,986 shares of the specialty chemicals company’s stock worth $642,000 after buying an additional 291 shares during the period. Victory Capital Management Inc. raised its holdings in NewMarket by 70.7% during the 1st quarter. Victory Capital Management Inc. now owns 1,536 shares of the specialty chemicals company’s stock worth $499,000 after buying an additional 636 shares during the period. Finally, Envestnet Asset Management Inc. raised its holdings in NewMarket by 17.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 12,525 shares of the specialty chemicals company’s stock worth $4,063,000 after buying an additional 1,831 shares during the period. Institutional investors and hedge funds own 54.72% of the company’s stock.

About NewMarket (Get Rating)

NewMarket Corporation, through its subsidiaries, engages in the petroleum additives business. 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.

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