NewMarket Corporation's Investment Rating Downgraded to 'Buy'

On a recent Sunday, analysts at StockNews.com adjusted their rating for NewMarket Corporation (NYSE:NEU), shifting from a 'strong-buy' to a 'buy' designation. This decision comes amid recent stock performance metrics and institutional trading activity for the specialty chemicals producer.

NewMarket Stock Performance Insights

Trading for NewMarket started at $582.83 last Friday. The company's financial stability is reflected in a quick ratio of 1.60, a current ratio of 2.85, and a debt-to-equity ratio standing at 0.60. Notably, the market capitalization of NewMarket is $5.59 billion, and the company's price-to-earnings ratio is gauged at 14.40, with a recorded beta of 0.43. Over the course of recent months, the stock's fifty-day simple moving average reached $558.01, while the two hundred-day simple moving average hit $498.57. The 52-week spectrum saw NewMarket at its lowest at $334.36 and peaking at $599.61.

Spotlight on Institutional Investments

Scrutiny of recent institutional investor activity reveals several alterations in share ownership. The Treasurer of the State of North Carolina marginally increased its NewMarket holdings by 0.7% during the year's third quarter, owning 2,739 shares worth approximately $1,246,000 after adding 20 more shares. Lindbrook Capital LLC saw a 35.6% hike in their holdings in the fourth quarter, reaching 80 shares worth around $44,000. Similarly, Xponance Inc.'s ownership rose by 3.1% in the third quarter, translating to a total of 805 shares valued at $366,000. There was also a noticeable 2.1% increase in Commonwealth Equity Services LLC's ownership during the first quarter, amounting to 1,336 shares valued at $487,000. Inspire Investing LLC augmented their stake by 4.4% during the second quarter, holding 778 shares estimated at $313,000. These movements highlight a broader trend where institutional investors and hedge funds hold 60.99% of NewMarket's stock.

About NewMarket Corporation

NewMarket Corporation, via its subsidiaries, specializes predominantly in the manufacturing and marketing of petroleum additives. The diverse product range includes lubricant additives for a vast array of vehicle and industrial applications—ranging from engine oils and transmission fluids to applications involving moving metal-to-metal parts. NewMarket highlights engine oil additives compatible with passenger vehicles, heavy-duty commercial equipment, motorcycles, locomotives, and marine engines. Additionally, the company manufactures driveline additives and industrial additives suited for a variety of industrial purposes.

NewMarket, Rating, Stock