NewMarket (NYSE:NEU) Hits New 12-Month High – Should You Buy?

NewMarket Corporation (NYSE:NEU) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as $889.91 and last traded at $886.8350, with a volume of 152357 shares changing hands. The stock had previously closed at $854.33.

Analysts Set New Price Targets

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

NewMarket Trading Up 1.3%

The stock has a market capitalization of $8.22 billion, a P/E ratio of 19.22 and a beta of 0.56. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.25 and a quick ratio of 1.23. The business’s 50 day simple moving average is $796.46 and its 200-day simple moving average is $705.03.

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

Hedge Funds Weigh In On NewMarket

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NEU. Norges Bank bought a new position in shares of NewMarket during the fourth quarter worth $64,654,000. AQR Capital Management LLC raised its stake in NewMarket by 196.7% during the 3rd quarter. AQR Capital Management LLC now owns 137,943 shares of the specialty chemicals company’s stock worth $114,246,000 after buying an additional 91,458 shares during the period. Caisse de depot et placement du Quebec raised its stake in 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 worth $82,205,000 after buying an additional 78,422 shares during the period. Corient Private Wealth LLC lifted its holdings in NewMarket by 7,743.0% during the fourth quarter. Corient Private Wealth LLC now owns 75,763 shares of the specialty chemicals company’s stock worth $52,069,000 after acquiring an additional 74,797 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new position in NewMarket during the second quarter worth about $56,245,000. Institutional investors own 61.09% of the company’s stock.

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.