Quaker Houghton $KWR Shares Bought by Fifth Third Bancorp

Fifth Third Bancorp grew its stake in shares of Quaker Houghton (NYSE:KWR) by 3,715.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,371 shares of the specialty chemicals company’s stock after purchasing an additional 6,204 shares during the period. Fifth Third Bancorp’s holdings in Quaker Houghton were worth $791,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in KWR. Northwestern Mutual Wealth Management Co. boosted its holdings in Quaker Houghton by 67,340.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 16,860 shares of the specialty chemicals company’s stock worth $2,315,000 after buying an additional 16,835 shares in the last quarter. Deprince Race & Zollo Inc. increased its holdings in Quaker Houghton by 9.7% in the fourth quarter. Deprince Race & Zollo Inc. now owns 278,576 shares of the specialty chemicals company’s stock valued at $38,251,000 after buying an additional 24,573 shares in the last quarter. GW&K Investment Management LLC lifted its position in shares of Quaker Houghton by 42.3% during the 4th quarter. GW&K Investment Management LLC now owns 406,329 shares of the specialty chemicals company’s stock valued at $55,793,000 after acquiring an additional 120,772 shares during the period. Royce & Associates LP lifted its position in shares of Quaker Houghton by 19.2% during the 4th quarter. Royce & Associates LP now owns 755,740 shares of the specialty chemicals company’s stock valued at $103,771,000 after acquiring an additional 121,854 shares during the period. Finally, Global Alpha Capital Management Ltd. purchased a new stake in shares of Quaker Houghton during the 4th quarter worth approximately $21,132,000. 77.46% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Jeewat Bijlani sold 731 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $145.77, for a total transaction of $106,557.87. Following the transaction, the executive vice president owned 6,748 shares of the company’s stock, valued at approximately $983,655.96. This represents a 9.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.00% of the company’s stock.

Quaker Houghton Trading Down 0.2%

Quaker Houghton stock opened at $151.12 on Tuesday. The stock has a 50-day moving average price of $148.52 and a 200 day moving average price of $145.54. Quaker Houghton has a 52 week low of $111.42 and a 52 week high of $183.01. The stock has a market cap of $2.62 billion, a PE ratio of 539.75, a P/E/G ratio of 1.16 and a beta of 1.40. The company has a current ratio of 2.45, a quick ratio of 1.72 and a debt-to-equity ratio of 0.61.

Quaker Houghton (NYSE:KWR) last released its earnings results on Thursday, April 30th. The specialty chemicals company reported $1.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.03). Quaker Houghton had a net margin of 0.22% and a return on equity of 9.03%. The firm had revenue of $480.48 million during the quarter, compared to analysts’ expectations of $463.70 million. During the same quarter last year, the company posted $1.58 earnings per share. Quaker Houghton’s revenue for the quarter was up 8.5% on a year-over-year basis. Equities research analysts predict that Quaker Houghton will post 7.16 earnings per share for the current fiscal year.

Quaker Houghton announced that its board has initiated a stock repurchase program on Wednesday, May 13th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the specialty chemicals company to buy up to 10.1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Quaker Houghton Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 17th will be given a $0.508 dividend. This represents a $2.03 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, July 17th. Quaker Houghton’s payout ratio is currently 725.00%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on KWR. Truist Financial initiated coverage on Quaker Houghton in a report on Monday, June 8th. They issued a “buy” rating and a $172.00 price target on the stock. Wall Street Zen cut Quaker Houghton from a “buy” rating to a “hold” rating in a report on Sunday, April 12th. Weiss Ratings upgraded Quaker Houghton from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, May 6th. Jefferies Financial Group lowered their target price on Quaker Houghton from $203.00 to $175.00 and set a “buy” rating on the stock in a report on Monday, April 6th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $177.00 price target on shares of Quaker Houghton in a research report on Friday, July 17th. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Quaker Houghton presently has a consensus rating of “Moderate Buy” and an average price target of $174.67.

Quaker Houghton Company 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.