Key Points
- Quaker Houghton EVP Jeewat Bijlani sold 731 shares on May 26 at an average price of $145.77, totaling about $106,558. After the sale, he still held 6,748 shares, a 9.77% reduction in his stake.
- The company recently reported mixed quarterly results, posting EPS of $1.63 versus expectations of $1.66, while revenue came in above estimates at $480.48 million and rose 8.5% year over year.
- Quaker Houghton authorized a $250 million share repurchase plan covering up to 10.1% of outstanding shares, and it also declared a quarterly dividend of $0.508 per share to be paid on July 31.
Quaker Houghton (NYSE:KWR - Get Free Report) EVP Jeewat Bijlani sold 731 shares of the business's stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $145.77, for a total value of $106,557.87. Following the transaction, the executive vice president 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 document filed with the Securities & Exchange Commission, which is available at this link.
Quaker Houghton Trading Up 0.2%
Shares of KWR opened at $147.58 on Friday. Quaker Houghton has a 12-month low of $103.36 and a 12-month high of $183.01. The company has a quick ratio of 1.72, a current ratio of 2.45 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $2.56 billion, a price-to-earnings ratio of 527.09, a P/E/G ratio of 1.12 and a beta of 1.42. The stock's 50-day moving average price is $133.52 and its 200 day moving average price is $142.04.
Quaker Houghton (NYSE:KWR - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The specialty chemicals company reported $1.63 earnings per share for the quarter, missing the consensus estimate of $1.66 by ($0.03). Quaker Houghton had a net margin of 0.22% and a return on equity of 9.03%. The company had revenue of $480.48 million during the quarter, compared to the consensus estimate of $463.70 million. During the same quarter in the prior year, the company posted $1.58 earnings per share. The company's revenue for the quarter was up 8.5% on a year-over-year basis. As a group, research analysts predict that Quaker Houghton will post 7.19 earnings per share for the current year.
Quaker Houghton announced that its board has authorized a stock repurchase plan on Wednesday, May 13th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the specialty chemicals company to purchase up to 10.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's management believes its stock is undervalued.
Quaker Houghton Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 17th will be paid a $0.508 dividend. This represents a $2.03 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Friday, July 17th. Quaker Houghton's dividend payout ratio is currently 725.00%.
Institutional Investors Weigh In On Quaker Houghton
Large investors have recently bought and sold shares of the business. Cramer Rosenthal Mcglynn LLC bought a new stake in Quaker Houghton during the 3rd quarter worth approximately $5,035,000. Victory Capital Management Inc. lifted its holdings in Quaker Houghton by 1,897.7% during the 3rd quarter. Victory Capital Management Inc. now owns 321,637 shares of the specialty chemicals company's stock worth $42,376,000 after buying an additional 305,537 shares in the last quarter. New York State Common Retirement Fund lifted its holdings in Quaker Houghton by 10.4% during the 3rd quarter. New York State Common Retirement Fund now owns 87,777 shares of the specialty chemicals company's stock worth $11,565,000 after buying an additional 8,271 shares in the last quarter. Deprince Race & Zollo Inc. lifted its holdings in Quaker Houghton by 9.7% during the 4th quarter. Deprince Race & Zollo Inc. now owns 278,576 shares of the specialty chemicals company's stock worth $38,251,000 after buying an additional 24,573 shares in the last quarter. Finally, Royce & Associates LP lifted its holdings in Quaker Houghton by 3.2% during the 3rd quarter. Royce & Associates LP now owns 633,886 shares of the specialty chemicals company's stock worth $83,514,000 after buying an additional 19,788 shares in the last quarter. 77.46% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
KWR has been the topic of several analyst reports. Zacks Research upgraded Quaker Houghton from a "strong sell" rating to a "hold" rating in a research note on Thursday, May 21st. Weiss Ratings upgraded Quaker Houghton from a "sell (d)" rating to a "sell (d+)" rating in a research note on Wednesday, May 6th. Royal Bank Of Canada upped their price objective on Quaker Houghton from $151.00 to $157.00 and gave the company an "outperform" rating in a research note on Monday, May 4th. Jefferies Financial Group lowered their price objective on Quaker Houghton from $203.00 to $175.00 and set a "buy" rating on the stock in a research note on Monday, April 6th. Finally, Wall Street Zen lowered Quaker Houghton from a "buy" rating to a "hold" rating in a research note on Sunday, April 12th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $166.00.
View Our Latest Analysis on Quaker Houghton
Quaker Houghton Company Profile
(
Get Free Report)
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.
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