Legal & General Group Plc Acquires Shares of 30,866 Quaker Houghton $KWR

Legal & General Group Plc bought a new stake in shares of Quaker Houghton (NYSE:KWR) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 30,866 shares of the specialty chemicals company’s stock, valued at approximately $4,904,000. Legal & General Group Plc owned 0.18% of Quaker Houghton as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. 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 acquiring an additional 225 shares during the last quarter. Farther Finance Advisors LLC grew its stake in Quaker Houghton by 165.0% in the fourth quarter. Farther Finance Advisors LLC now owns 273 shares of the specialty chemicals company’s stock valued at $37,000 after purchasing an additional 170 shares in the last quarter. Allworth Financial LP acquired a new position in Quaker Houghton in the 2nd quarter worth about $39,000. Global Retirement Partners LLC increased its position in Quaker Houghton by 556.9% in the 4th quarter. Global Retirement Partners LLC now owns 335 shares of the specialty chemicals company’s stock worth $46,000 after purchasing an additional 284 shares during the last quarter. Finally, Kestra Advisory Services LLC purchased a new stake in shares of Quaker Houghton during the 4th quarter worth about $52,000. 77.46% of the stock is currently owned by hedge funds and other institutional investors.

Quaker Houghton Stock Down 1.4%

Shares of Quaker Houghton stock opened at $160.56 on Friday. Quaker Houghton has a 12-month low of $112.18 and a 12-month 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 50 day moving average price of $159.92 and a two-hundred day moving average price of $146.50. The stock has a market capitalization of $2.76 billion, a P/E ratio of 28.62, a PEG ratio of 1.10 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 earnings per share for the quarter, topping analysts’ consensus estimates of $1.66 by $0.53. The business had revenue of $532.55 million during the quarter, compared to analysts’ expectations of $504.63 million. Quaker Houghton had a net margin of 4.94% and a return on equity of 9.55%. Quaker Houghton’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.71 earnings per share. Equities analysts expect that Quaker Houghton will post 7.85 earnings per share for the current year.

Quaker Houghton Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Friday, October 16th will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Friday, October 16th. This represents a $2.12 dividend on an annualized basis and a yield of 1.3%. This is a positive change from Quaker Houghton’s previous quarterly dividend of $0.51. Quaker Houghton’s dividend payout ratio (DPR) is presently 36.19%.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Royal Bank Of Canada boosted their price target 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 upgraded shares of Quaker Houghton from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 6th. Weiss Ratings upgraded shares of Quaker Houghton from a “sell (d+)” rating to a “hold (c)” rating in a report on Monday, August 3rd. Truist Financial reiterated a “buy” rating and issued a $190.00 price objective (up from $172.00) on shares of Quaker Houghton in a report on Monday, August 3rd. Finally, Wall Street Zen raised shares of Quaker Houghton from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $187.00.

Insider Transactions at Quaker Houghton

In other news, Director William Osborne sold 600 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $168.31, for a total value of $100,986.00. Following the sale, 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 SEC, which can be accessed through this hyperlink. 1.00% of the stock is 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.