Brokers Set Expectations for Quaker Chemical Corp’s Q2 2020 Earnings (NYSE:KWR)
Quaker Chemical Corp (NYSE:KWR) – Research analysts at Jefferies Financial Group reduced their Q2 2020 earnings per share estimates for Quaker Chemical in a report released on Tuesday, July 28th. Jefferies Financial Group analyst L. Alexander now expects that the specialty chemicals company will post earnings of $0.25 per share for the quarter, down from their previous forecast of $0.45. Jefferies Financial Group also issued estimates for Quaker Chemical’s Q3 2020 earnings at $0.65 EPS and FY2022 earnings at $7.20 EPS.
Quaker Chemical (NYSE:KWR) last posted its quarterly earnings results on Monday, May 11th. The specialty chemicals company reported $1.38 EPS for the quarter, topping the consensus estimate of $1.10 by $0.28. The business had revenue of $378.60 million for the quarter, compared to analyst estimates of $362.76 million. Quaker Chemical had a positive return on equity of 9.27% and a negative net margin of 0.82%. The company’s quarterly revenue was up 79.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.41 EPS.
Shares of NYSE:KWR opened at $194.00 on Friday. The business has a 50-day moving average price of $185.85 and a 200 day moving average price of $164.42. The company has a current ratio of 2.63, a quick ratio of 2.11 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $3.45 billion, a price-to-earnings ratio of -524.31 and a beta of 1.53. Quaker Chemical has a 12-month low of $108.14 and a 12-month high of $208.26.
The company also recently announced a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Friday, July 17th were given a $0.385 dividend. This represents a $1.54 annualized dividend and a yield of 0.79%. The ex-dividend date was Thursday, July 16th. Quaker Chemical’s dividend payout ratio is currently 26.42%.
In other news, Director Michael J. Shannon sold 10,000 shares of the business’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $152.96, for a total transaction of $1,529,600.00. Following the completion of the transaction, the director now directly owns 12,245 shares of the company’s stock, valued at $1,872,995.20. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Michael F. Barry sold 13,544 shares of the business’s stock in a transaction dated Monday, July 20th. The stock was sold at an average price of $198.72, for a total value of $2,691,463.68. Following the transaction, the chief executive officer now directly owns 134,913 shares of the company’s stock, valued at $26,809,911.36. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,354 shares of company stock valued at $4,667,182. 2.10% of the stock is currently owned by corporate insiders.
Several institutional investors have recently made changes to their positions in the company. GW&K Investment Management LLC lifted its stake in Quaker Chemical by 37.7% during the first quarter. GW&K Investment Management LLC now owns 260,696 shares of the specialty chemicals company’s stock worth $32,920,000 after purchasing an additional 71,343 shares during the last quarter. Balyasny Asset Management LLC purchased a new stake in Quaker Chemical during the first quarter worth approximately $1,209,000. FDx Advisors Inc. purchased a new stake in Quaker Chemical during the first quarter worth approximately $145,000. Nuveen Asset Management LLC lifted its stake in Quaker Chemical by 1.4% during the first quarter. Nuveen Asset Management LLC now owns 53,467 shares of the specialty chemicals company’s stock worth $6,752,000 after purchasing an additional 760 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Quaker Chemical by 7.0% in the first quarter. Geode Capital Management LLC now owns 179,747 shares of the specialty chemicals company’s stock valued at $22,698,000 after buying an additional 11,726 shares during the last quarter. 84.80% of the stock is owned by institutional investors and hedge funds.
Quaker Chemical Company Profile
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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