Quaker Chemical (NYSE:KWR) Upgraded by Zacks Investment Research to Hold
According to Zacks, “Quaker Chemical Corporation develops, produces and markets a range of formulated chemical specialty products for various heavy industrial and manufacturing applications and, in addition, offers and markets chemical management services (CMS). The Company operates in three segments: Metalworking process chemicals, Coatings and Other chemical products. The Metalworking process chemicals segment includes industrial process fluids for various heavy industrial and manufacturing applications. Coatings segment includes temporary and permanent coatings for metal and concrete products and chemical milling maskants. “
Separately, Janney Montgomery Scott raised shares of Quaker Chemical from a neutral rating to a buy rating in a report on Friday, June 7th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $187.25.
Quaker Chemical (NYSE:KWR) last posted its earnings results on Thursday, May 2nd. The specialty chemicals company reported $1.41 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.40 by $0.01. Quaker Chemical had a net margin of 6.99% and a return on equity of 18.73%. The firm had revenue of $211.20 million for the quarter, compared to analyst estimates of $213.99 million. During the same period in the previous year, the firm posted $1.41 EPS. The company’s revenue for the quarter was down .4% compared to the same quarter last year. As a group, equities research analysts predict that Quaker Chemical will post 6.8 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Wednesday, July 17th will be issued a dividend of $0.385 per share. This represents a $1.54 dividend on an annualized basis and a yield of 0.84%. This is a positive change from Quaker Chemical’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Tuesday, July 16th. Quaker Chemical’s payout ratio is presently 24.50%.
In other Quaker Chemical news, Director Donald R. Caldwell sold 250 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $201.65, for a total transaction of $50,412.50. Following the sale, the director now directly owns 5,071 shares of the company’s stock, valued at approximately $1,022,567.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.90% of the company’s stock.
Large investors have recently bought and sold shares of the company. Belpointe Asset Management LLC bought a new stake in shares of Quaker Chemical in the 1st quarter worth $102,000. Sheets Smith Wealth Management bought a new position in Quaker Chemical during the first quarter valued at about $479,000. O Shaughnessy Asset Management LLC grew its position in Quaker Chemical by 69.8% during the first quarter. O Shaughnessy Asset Management LLC now owns 7,623 shares of the specialty chemicals company’s stock valued at $1,520,000 after buying an additional 3,133 shares during the period. Envestnet Asset Management Inc. grew its position in Quaker Chemical by 7.1% during the first quarter. Envestnet Asset Management Inc. now owns 25,156 shares of the specialty chemicals company’s stock valued at $5,039,000 after buying an additional 1,668 shares during the period. Finally, PNC Financial Services Group Inc. grew its position in Quaker Chemical by 0.5% during the first quarter. PNC Financial Services Group Inc. now owns 11,664 shares of the specialty chemicals company’s stock valued at $2,336,000 after buying an additional 58 shares during the period. 98.29% of the stock is currently owned by institutional investors.
About Quaker Chemical
Quaker Chemical Corporation develops, produces, and markets various formulated chemical specialty products for a range of heavy industrial and manufacturing applications in North America, Europe, the Middle East, Africa, the Asia/Pacific, and South America. The company's products include rolling lubricants used by manufacturers of steel in the hot and cold rolling of steel, and aluminum in the hot rolling of aluminum; machining and grinding compounds for use in cutting, shaping, and grinding metal parts; hydraulic fluids for steel, metalworking, and other customers to operate hydraulic equipment; corrosion preventives to protect metals during manufacture, storage, and shipment; and specialty greases used in automotive and aerospace production processes, steel manufacturing, and various other applications.
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