BMO Capital Downgrades NewMarket Corporation to Market Perform

Brokerage firm BMO Capital Downgrades its rating on NewMarket Corporation(NYSE:NEU). The shares have been rated Market Perform. Previously, the analysts had a Outperform rating on the shares. The rating by BMO Capital was issued on Sep 30, 2016.

In a different note, On Jul 29, 2016, Longbow Research said it Downgrades its rating on NewMarket Corporation. The shares have been rated ‘Neutral’ by the firm.

NewMarket Corporation (NEU) shares turned negative on Tuesdays trading session with the shares closing down -7.81 points or -1.84% at a volume of 38,535. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $425.84. The peak price level was also seen at $425.84 while the days lowest was $415.46. Finally the shares closed at $416.72. The 52-week high of the shares is $447.965 while the 52-week low is $322.535. According to the latest information available, the market cap of the company is $4,937 M.

NewMarket Corporation(NEU) last announced its earnings results on Jul 27, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $521.81M. Analysts had an estimated revenue of $556.60M. Earnings per share were $5.50. Analysts had estimated an EPS of $5.45.

Several Insider Transactions has been reported to the SEC. On Nov 19, 2015, Robert A. Shama (President Afton Chemical Corp) sold 274 shares at $400.76 per share price.Also, On Apr 28, 2015, Bruce R Iii Hazelgrove (Vice President & CAO) sold 400 shares at $463.50 per share price.On Feb 27, 2015, Thomas E Gottwald (Chairman, President & CEO) sold 10,000 shares at $472.45 per share price, according to the Form-4 filing with the securities and exchange commission.

NewMarket Corporation (NewMarket) is a holding company and is the parent company of Afton Chemical Corporation (Afton) Ethyl Corporation (Ethyl) NewMarket Services Corporation (NewMarket Services) and NewMarket Development Corporation (NewMarket Development). Each of its the Company’s subsidiaries manages its own assets and liabilities. Afton encompasses the petroleum additives business while Ethyl represents the sale of tetraethyl lead (TEL) in North America and certain petroleum additives manufacturing operations. NewMarket Development manages the property that it owns in Virginia. NewMarket Services provides various administrative services to NewMarket Afton Ethyl and NewMarket Development. The Company’s business consists of one segment petroleum additives which is primarily represented by Afton. The TEL business of Ethyl is reflected in the ‘All other’ category. The ‘All Other’ also includes contract manufacturing performed by Ethyl.

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