Wellington Management Group LLP Reduces Stock Position in Quaker Houghton $KWR

Wellington Management Group LLP trimmed its holdings in Quaker Houghton (NYSE:KWR) by 9.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 679,621 shares of the specialty chemicals company’s stock after selling 68,520 shares during the period. Wellington Management Group LLP owned about 3.95% of Quaker Houghton worth $107,971,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. EverSource Wealth Advisors LLC increased its stake in shares of Quaker Houghton by 284.8% in the second quarter. EverSource Wealth Advisors LLC now owns 304 shares of the specialty chemicals company’s stock worth $34,000 after buying an additional 225 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in Quaker Houghton by 165.0% during the 4th quarter. Farther Finance Advisors LLC now owns 273 shares of the specialty chemicals company’s stock valued at $37,000 after acquiring an additional 170 shares during the last quarter. Allworth Financial LP bought a new position in Quaker Houghton during the 2nd quarter valued at $39,000. Global Retirement Partners LLC grew its holdings in Quaker Houghton by 556.9% during the 4th quarter. Global Retirement Partners LLC now owns 335 shares of the specialty chemicals company’s stock worth $46,000 after acquiring an additional 284 shares in the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in Quaker Houghton during the 2nd quarter worth $48,000. 77.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Quaker Houghton

In other news, Director William H. Osborne sold 600 shares of the firm’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $168.31, for a total transaction of $100,986.00. Following the transaction, the director directly owned 616 shares of the company’s stock, valued at approximately $103,678.96. This trade represents a 49.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on KWR shares. Wall Street Zen upgraded shares of Quaker Houghton from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. Deutsche Bank Aktiengesellschaft boosted their price objective on Quaker Houghton from $165.00 to $185.00 and gave the company a “buy” rating in a report on Tuesday, August 25th. Royal Bank Of Canada upped their price objective on Quaker Houghton from $177.00 to $198.00 and gave the company an “outperform” rating in a research note on Monday, August 3rd. Zacks Research raised Quaker Houghton from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 6th. Finally, Truist Financial reiterated a “buy” rating and issued a $190.00 target price (up from $172.00) on shares of Quaker Houghton in a research report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $187.00.

Quaker Houghton Price Performance

Shares of NYSE:KWR opened at $161.48 on Wednesday. The firm’s 50 day moving average is $159.62 and its two-hundred day moving average is $146.73. The firm has a market capitalization of $2.78 billion, a P/E ratio of 28.78, a PEG ratio of 1.12 and a beta of 1.40. The company has a current ratio of 2.46, a quick ratio of 1.70 and a debt-to-equity ratio of 0.62. Quaker Houghton has a 52 week low of $112.18 and a 52 week high of $183.01.

Quaker Houghton (NYSE:KWR) last issued its quarterly earnings data on Thursday, July 30th. The specialty chemicals company reported $2.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.66 by $0.53. Quaker Houghton had a return on equity of 9.55% and a net margin of 4.94%.The business had revenue of $532.55 million during the quarter, compared to analyst estimates of $504.63 million. During the same period in the prior year, the company posted $1.71 EPS. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. Analysts anticipate that Quaker Houghton will post 7.85 earnings per share for the current year.

Quaker Houghton declared that its board has approved a stock buyback plan on Wednesday, May 13th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the specialty chemicals company to reacquire up to 10.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Quaker Houghton Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Friday, October 16th will be paid a $0.53 dividend. The ex-dividend date of this dividend is Friday, October 16th. This is a positive change from Quaker Houghton’s previous quarterly dividend of $0.51. This represents a $2.12 annualized dividend and a dividend yield of 1.3%. Quaker Houghton’s dividend payout ratio (DPR) is currently 36.19%.

Quaker Houghton Profile

Quaker Houghton is a global provider of process fluids, chemical specialties and sustainable solutions for industrial applications. The company develops and supplies metalworking fluids, coatings, and corrosion inhibitors, as well as heat transfer, lubrication and additive products designed to improve productivity and extend equipment life. Its portfolio addresses a range of end markets including automotive, aerospace, defense, energy, mining, agriculture and heavy industry.

The company traces its roots back to the founding of Quaker Chemical Corporation in 1918 and Houghton International in 1865.