BlackRock Inc. Makes New $335.29 Million Investment in Quaker Houghton $KWR

BlackRock Inc. bought a new stake in shares of Quaker Houghton (NYSE:KWR - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,110,468 shares of the specialty chemicals company's stock, valued at approximately $335,290,000. BlackRock Inc. owned approximately 12.26% of Quaker Houghton at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. AQR Capital Management LLC increased its holdings in Quaker Houghton by 114.3% in the first quarter. AQR Capital Management LLC now owns 23,139 shares of the specialty chemicals company's stock valued at $2,860,000 after buying an additional 12,341 shares in the last quarter. Integrated Wealth Concepts LLC increased its stake in shares of 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 purchasing an additional 109 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Quaker Houghton by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,211 shares of the specialty chemicals company's stock worth $1,015,000 after purchasing an additional 345 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Quaker Houghton by 29.2% during the first quarter. Goldman Sachs Group Inc. now owns 95,751 shares of the specialty chemicals company's stock worth $11,836,000 after purchasing an additional 21,665 shares in the last quarter. Finally, Intech Investment Management LLC grew its holdings in Quaker Houghton by 44.4% in the first quarter. Intech Investment Management LLC now owns 9,873 shares of the specialty chemicals company's stock valued at $1,220,000 after purchasing an additional 3,034 shares during the period. 77.46% of the stock is owned by hedge funds and other institutional investors.

Quaker Houghton Trading Up 0.0%

Shares of KWR opened at $164.76 on Thursday. Quaker Houghton has a 52-week low of $112.18 and a 52-week high of $183.01. The stock has a market cap of $2.84 billion, a PE ratio of 29.37, a price-to-earnings-growth ratio of 1.17 and a beta of 1.40. The firm's fifty day moving average is $158.42 and its two-hundred day moving average is $147.00. The company has a quick ratio of 1.70, a current ratio of 2.46 and a debt-to-equity ratio of 0.62.

Quaker Houghton (NYSE:KWR - Get Free Report) last issued its earnings results 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 business had revenue of $532.55 million during the quarter, compared to analysts' expectations of $504.63 million. During the same period in the prior year, the business earned $1.71 earnings per share. The company's quarterly revenue was up 10.2% compared to the same quarter last year. Research analysts forecast that Quaker Houghton will post 7.72 earnings per share for the current fiscal year.

Quaker Houghton Increases Dividend

The business 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%. This is a boost from Quaker Houghton's previous quarterly dividend of $0.51. 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 approved a stock repurchase program on Wednesday, May 13th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the specialty chemicals company to buy up to 10.1% of its stock through open market purchases. Stock buyback programs are often an indication that the company's leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Royal Bank Of Canada upped their target price on Quaker Houghton from $177.00 to $198.00 and gave the stock an "outperform" rating in a research note on Monday, August 3rd. Wall Street Zen raised shares of Quaker Houghton from a "hold" rating to a "buy" rating in a report on Saturday, August 1st. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Quaker Houghton from $165.00 to $185.00 and gave the stock a "buy" rating in a research report on Tuesday. Weiss Ratings upgraded shares of Quaker Houghton from a "sell (d+)" rating to a "hold (c)" rating in a research report on Monday, August 3rd. Finally, Zacks Research raised shares of Quaker Houghton from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Quaker Houghton has a consensus rating of "Buy" and a consensus target price of $187.00.

Insider Activity 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 transaction, the director owned 616 shares in the company, 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 filing with the SEC, which can be accessed through this link. Corporate insiders own 1.00% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source