NewMarket Co. (NYSE:NEU) was the recipient of a significant drop in short interest in July. As of July 15th, there was short interest totalling 226,700 shares, a drop of 8.6% from the June 15th total of 248,100 shares. Currently, 2.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 53,000 shares, the short-interest ratio is currently 4.3 days.

Separately, Buckingham Research started coverage on shares of NewMarket in a research report on Monday, April 1st. They issued an “underperform” rating and a $380.00 target price on the stock.

Several hedge funds have recently added to or reduced their stakes in NEU. Legal & General Group Plc raised its stake in NewMarket by 0.3% during the fourth quarter. Legal & General Group Plc now owns 12,218 shares of the specialty chemicals company’s stock worth $5,035,000 after buying an additional 34 shares during the last quarter. F3Logic LLC raised its stake in NewMarket by 2.0% during the first quarter. F3Logic LLC now owns 2,021 shares of the specialty chemicals company’s stock worth $876,000 after buying an additional 39 shares during the last quarter. Oregon Public Employees Retirement Fund raised its stake in NewMarket by 1.4% during the second quarter. Oregon Public Employees Retirement Fund now owns 3,583 shares of the specialty chemicals company’s stock worth $1,437,000 after buying an additional 50 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in NewMarket by 3.6% during the second quarter. Janney Montgomery Scott LLC now owns 1,604 shares of the specialty chemicals company’s stock worth $643,000 after buying an additional 55 shares during the last quarter. Finally, LVW Advisors LLC raised its stake in NewMarket by 11.8% during the first quarter. LVW Advisors LLC now owns 542 shares of the specialty chemicals company’s stock worth $235,000 after buying an additional 57 shares during the last quarter. 54.75% of the stock is owned by hedge funds and other institutional investors.

Shares of NEU stock traded up $5.11 during trading hours on Tuesday, hitting $429.49. 39,562 shares of the company’s stock traded hands, compared to its average volume of 48,731. The firm has a 50 day moving average price of $407.57. The stock has a market cap of $4.78 billion, a PE ratio of 21.12 and a beta of 0.52. NewMarket has a 12 month low of $352.89 and a 12 month high of $452.54. The company has a current ratio of 3.29, a quick ratio of 1.77 and a debt-to-equity ratio of 1.53.

NewMarket Company Profile

NewMarket Corporation, through its subsidiaries, engages in the petroleum additives businesses. 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, metalworking fluids, and other applications where metal-to-metal moving parts are utilized; and engine oil, driveline, and industrial additives.

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