Quaker Houghton $KWR Shares Sold by Penn Capital Management Company LLC

Penn Capital Management Company LLC reduced its holdings in shares of Quaker Houghton (NYSE:KWR) by 46.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 9,137 shares of the specialty chemicals company’s stock after selling 8,024 shares during the period. Penn Capital Management Company LLC owned approximately 0.05% of Quaker Houghton worth $1,452,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in KWR. Keybank National Association OH increased its holdings in shares of Quaker Houghton by 3.5% in the first quarter. Keybank National Association OH now owns 2,084 shares of the specialty chemicals company’s stock valued at $259,000 after purchasing an additional 71 shares during the period. PNC Financial Services Group Inc. grew its position in Quaker Houghton by 1.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 8,600 shares of the specialty chemicals company’s stock valued at $1,068,000 after buying an additional 83 shares during the last quarter. Integrated Wealth Concepts LLC grew its position in Quaker Houghton by 7.1% in the 1st quarter. Integrated Wealth Concepts LLC now owns 1,650 shares of the specialty chemicals company’s stock valued at $204,000 after buying an additional 109 shares during the last quarter. LPL Financial LLC increased its stake in Quaker Houghton by 1.4% in the 4th quarter. LPL Financial LLC now owns 8,105 shares of the specialty chemicals company’s stock valued at $1,113,000 after buying an additional 114 shares during the period. Finally, EverSource Wealth Advisors LLC raised its position in Quaker Houghton by 51.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 344 shares of the specialty chemicals company’s stock worth $43,000 after buying an additional 117 shares during the last quarter. 77.46% of the stock is owned by hedge funds and other institutional investors.

Quaker Houghton Trading Up 1.2%

NYSE:KWR opened at $166.27 on Friday. Quaker Houghton has a 52-week low of $112.18 and a 52-week high of $183.01. The company has a quick ratio of 1.70, a current ratio of 2.46 and a debt-to-equity ratio of 0.62. The stock has a fifty day simple moving average of $159.02 and a 200-day simple moving average of $147.09. The company has a market capitalization of $2.86 billion, a PE ratio of 29.64, a price-to-earnings-growth ratio of 1.12 and a beta of 1.40.

Quaker Houghton (NYSE:KWR) last issued its quarterly earnings data on Thursday, July 30th. The specialty chemicals company reported $2.19 EPS for the quarter, beating analysts’ consensus estimates of $1.66 by $0.53. Quaker Houghton had a net margin of 4.94% and a return on equity of 9.55%. The firm had revenue of $532.55 million for the quarter, compared to analysts’ expectations of $504.63 million. During the same period in the prior year, the company earned $1.71 EPS. The firm’s revenue was up 10.2% on a year-over-year basis. On average, equities research analysts expect that Quaker Houghton will post 7.85 earnings per share for the current fiscal year.

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 given a $0.53 dividend. This is a boost from Quaker Houghton’s previous quarterly dividend of $0.51. This represents a $2.12 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Friday, October 16th. Quaker Houghton’s dividend payout ratio (DPR) is currently 36.19%.

Quaker Houghton declared that its board has authorized a stock repurchase program on Wednesday, May 13th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the specialty chemicals company to reacquire up to 10.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

Several analysts have recently weighed in on KWR shares. Zacks Research raised shares of Quaker Houghton from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 6th. Weiss Ratings raised shares of Quaker Houghton from a “sell (d+)” rating to a “hold (c)” rating in a report on Monday, August 3rd. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Quaker Houghton from $165.00 to $185.00 and gave the company a “buy” rating in a research report on Tuesday. Truist Financial reiterated a “buy” rating and set a $190.00 target price (up from $172.00) on shares of Quaker Houghton in a research report on Monday, August 3rd. Finally, Wall Street Zen upgraded Quaker Houghton from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $187.00.

Insider Buying and Selling at Quaker Houghton

In related news, Director William H. Osborne sold 600 shares of Quaker Houghton stock in a transaction that occurred 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 completion of the transaction, the director directly owned 616 shares in the company, valued at $103,678.96. The trade was a 49.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.00% of the stock is currently owned by company insiders.

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.