Quaker Houghton (NYSE:KWR) Issues Earnings Results

Quaker Houghton (NYSE:KWR) posted its quarterly earnings data on Thursday. The specialty chemicals company reported $2.19 EPS for the quarter, beating the consensus estimate of $1.66 by $0.53, FiscalAI reports. Quaker Houghton had a net margin of 0.22% and a return on equity of 9.03%. The firm had revenue of $532.55 million during the quarter, compared to analyst estimates of $504.63 million. During the same quarter last year, the business posted $1.71 EPS. The company’s revenue for the quarter was up 10.2% on a year-over-year basis.

Quaker Houghton Stock Performance

Shares of NYSE:KWR traded up $5.65 during midday trading on Thursday, reaching $154.44. 243,134 shares of the company traded hands, compared to its average volume of 127,312. The firm’s fifty day moving average price is $149.41 and its two-hundred day moving average price is $145.63. The firm has a market capitalization of $2.68 billion, a price-to-earnings ratio of 551.58, a price-to-earnings-growth ratio of 1.14 and a beta of 1.40. The company has a quick ratio of 1.72, a current ratio of 2.45 and a debt-to-equity ratio of 0.61. Quaker Houghton has a 12 month low of $111.42 and a 12 month high of $183.01.

Quaker Houghton Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Friday, October 16th will be given a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 1.4%. This is a boost from Quaker Houghton’s previous quarterly dividend of $0.51. The ex-dividend date is Friday, October 16th. Quaker Houghton’s dividend payout ratio (DPR) is presently 725.00%.

Insider Buying and Selling

In other news, EVP Jeewat Bijlani sold 731 shares of the company’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $145.77, for a total transaction of $106,557.87. Following the sale, the executive vice president directly owned 6,748 shares in the company, valued at $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 this link. 1.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Quaker Houghton

A number of large investors have recently modified their holdings of the company. Invesco Ltd. increased its holdings in Quaker Houghton by 5.4% during the 4th quarter. Invesco Ltd. now owns 68,059 shares of the specialty chemicals company’s stock worth $9,345,000 after acquiring an additional 3,505 shares during the period. Mercer Global Advisors Inc. ADV boosted its holdings in Quaker Houghton by 37.0% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 3,314 shares of the specialty chemicals company’s stock valued at $455,000 after purchasing an additional 895 shares during the period. NewEdge Advisors LLC grew its position in shares of Quaker Houghton by 12,361.9% during the 4th quarter. NewEdge Advisors LLC now owns 2,617 shares of the specialty chemicals company’s stock valued at $359,000 after purchasing an additional 2,596 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Quaker Houghton by 14.4% during the 4th quarter. Wellington Management Group LLP now owns 756,988 shares of the specialty chemicals company’s stock valued at $103,942,000 after purchasing an additional 95,100 shares in the last quarter. Finally, Susquehanna Portfolio Strategies LLC bought a new position in shares of Quaker Houghton in the fourth quarter worth $2,222,000. 77.46% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Weiss Ratings raised Quaker Houghton from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, May 6th. Zacks Research upgraded Quaker Houghton from a “strong sell” rating to a “hold” rating in a report on Thursday, May 21st. Jefferies Financial Group cut their price objective on Quaker Houghton from $203.00 to $175.00 and set a “buy” rating on the stock in a research report on Monday, April 6th. Truist Financial assumed coverage on Quaker Houghton in a research note on Monday, June 8th. They issued a “buy” rating and a $172.00 price objective for the company. Finally, Wall Street Zen downgraded Quaker Houghton from a “buy” rating to a “hold” rating in a research note on Sunday, April 12th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $174.67.

Quaker Houghton announced that its board has initiated a share repurchase 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 repurchase up to 10.1% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

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.