Bard Associates Inc. Acquires New Stake in Quaker Houghton $KWR

Key Points

• Bard Associates acquired a new 16,506-share stake in Quaker Houghton valued at approximately $2.62 million, while institutional investors collectively own 77.46% of the company.
• Quaker Houghton reported strong quarterly results, with EPS of $2.19 beating estimates of $1.66 and revenue rising 10.2% year over year to $532.55 million. The company also authorized a $250 million share-repurchase program.
• The company raised its quarterly dividend from $0.51 to $0.53 per share, and analysts largely remain bullish: Quaker Houghton has an average “Buy” rating and a consensus price target of $187.67.

Bard Associates Inc. acquired a new position in shares of Quaker Houghton (NYSE:KWR - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 16,506 shares of the specialty chemicals company's stock, valued at approximately $2,622,000. Bard Associates Inc. owned approximately 0.10% of Quaker Houghton at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Quaker Houghton during the 4th quarter worth $27,000. EverSource Wealth Advisors LLC boosted its position 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 holdings 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 during the period. Allworth Financial LP acquired a new position in Quaker Houghton during the second quarter worth approximately $39,000. Finally, Global Retirement Partners LLC raised its stake in Quaker Houghton by 556.9% during the fourth 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 period. Institutional investors and hedge funds own 77.46% of the company's stock.

Quaker Houghton Stock Down 1.1%

KWR stock opened at $162.95 on Friday. Quaker Houghton has a twelve month low of $112.18 and a twelve month high of $183.01. The company has a current ratio of 2.46, a quick ratio of 1.70 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $2.80 billion, a P/E ratio of 29.05, a PEG ratio of 1.17 and a beta of 1.40. The firm has a 50 day simple moving average of $157.48 and a 200-day simple moving average of $147.15.

Quaker Houghton (NYSE:KWR - Get Free Report) last posted 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. The firm had revenue of $532.55 million for the quarter, compared to the consensus estimate of $504.63 million. Quaker Houghton had a net margin of 4.94% and a return on equity of 9.55%. The firm's revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.71 EPS. On average, equities research analysts predict that Quaker Houghton will post 7.72 earnings per share for the current fiscal year.

Quaker Houghton declared that its board has initiated a share repurchase program on Wednesday, May 13th that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the specialty chemicals company to repurchase up to 10.1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

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 represents a $2.12 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Friday, October 16th. This is an increase from Quaker Houghton's previous quarterly dividend of $0.51. Quaker Houghton's payout ratio is 36.19%.

Insider Transactions at Quaker Houghton

In other Quaker Houghton news, EVP Jeewat Bijlani sold 731 shares of the business's stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $145.77, for a total transaction of $106,557.87. Following the completion of the transaction, the executive vice president owned 6,748 shares in the company, valued at approximately $983,655.96. The trade was a 9.77% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director William H. Osborne sold 600 shares of the firm's stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $168.31, for a total transaction of $100,986.00. Following the transaction, the director directly owned 616 shares in the company, valued at approximately $103,678.96. The trade was a 49.34% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 1.00% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on KWR. 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 note on Monday, August 3rd. Zacks Research upgraded Quaker Houghton from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 6th. Royal Bank Of Canada raised their price objective on Quaker Houghton from $177.00 to $198.00 and gave the stock an "outperform" rating in a report on Monday, August 3rd. Weiss Ratings raised Quaker Houghton from a "sell (d+)" rating to a "hold (c)" rating in a research note on Monday, August 3rd. Finally, Wall Street Zen upgraded Quaker Houghton from a "hold" rating to a "buy" rating in a report on Saturday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $187.67.

About Quaker Houghton

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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