Key Points
- Director William Osborne sold 600 Quaker Houghton shares at an average price of $168.31, generating approximately $100,986. Following the transaction, he retained 616 shares, a 49.34% reduction in his position.
- Quaker Houghton reported quarterly EPS of $2.19, exceeding estimates of $1.66, while revenue rose 10.2% year over year to $532.55 million. The company also increased its quarterly dividend to $0.53 per share and authorized a $250 million share-repurchase program.
- Analyst sentiment was favorable, with the stock carrying a consensus “Moderate Buy” rating and an average price target of $187.67, above its reported opening price of $167.68.
Quaker Houghton (NYSE:KWR - Get Free Report) Director William Osborne sold 600 shares of Quaker Houghton stock in a transaction 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 sale, the director directly owned 616 shares in the company, valued at approximately $103,678.96. This trade represents a 49.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Quaker Houghton Stock Performance
Quaker Houghton stock opened at $167.68 on Friday. The stock has a market cap of $2.89 billion, a price-to-earnings ratio of 29.89, a price-to-earnings-growth ratio of 1.24 and a beta of 1.40. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.46 and a quick ratio of 1.70. Quaker Houghton has a 1-year low of $112.18 and a 1-year high of $183.01. The firm has a 50 day simple moving average of $151.72 and a 200-day simple moving average of $146.04.
Quaker Houghton (NYSE:KWR - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The specialty chemicals company reported $2.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.66 by $0.53. Quaker Houghton had a return on equity of 9.55% and a net margin of 4.94%.The firm had revenue of $532.55 million during the quarter, compared to the consensus estimate of $504.63 million. During the same period last year, the company earned $1.71 EPS. The company's quarterly revenue was up 10.2% on a year-over-year basis. On average, analysts expect that Quaker Houghton will post 7.59 EPS for the current year.
Quaker Houghton Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Friday, October 16th will be given a dividend of $0.53 per share. This is an increase from Quaker Houghton's previous quarterly dividend of $0.51. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, October 16th. Quaker Houghton's dividend payout ratio is currently 36.19%.
Quaker Houghton announced that its Board of Directors has initiated 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 repurchase up to 10.1% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's management believes its shares are undervalued.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in KWR. Wellington Management Group LLP boosted its holdings in shares of Quaker Houghton by 79.9% in the 3rd quarter. Wellington Management Group LLP now owns 661,888 shares of the specialty chemicals company's stock valued at $87,204,000 after buying an additional 293,977 shares in the last quarter. Global Alpha Capital Management Ltd. acquired a new stake in Quaker Houghton during the 4th quarter worth $21,132,000. Bank of New York Mellon Corp acquired a new stake in Quaker Houghton during the 2nd quarter worth $21,458,000. Norges Bank purchased a new stake in Quaker Houghton in the fourth quarter valued at $17,982,000. Finally, MetLife Investment Management LLC lifted its position in Quaker Houghton by 1,569.5% in the fourth quarter. MetLife Investment Management LLC now owns 139,290 shares of the specialty chemicals company's stock valued at $19,126,000 after acquiring an additional 130,947 shares during the last quarter. 77.46% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several equities research analysts have weighed in on KWR shares. Zacks Research upgraded Quaker Houghton from a "strong sell" rating to a "hold" rating in a report on Thursday, May 21st. Truist Financial reissued a "buy" rating and set a $190.00 price objective (up from $172.00) on shares of Quaker Houghton in a research report on Monday. Wall Street Zen upgraded shares of Quaker Houghton from a "hold" rating to a "buy" rating in a research note on Saturday, August 1st. Seaport Research Partners raised shares of Quaker Houghton from a "neutral" rating to a "buy" rating and set a $175.00 target price on the stock in a report on Friday, April 17th. Finally, Royal Bank Of Canada lifted their price target on shares of Quaker Houghton from $177.00 to $198.00 and gave the stock an "outperform" rating in a research note on Monday. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $187.67.
Read Our Latest Stock Report 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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