Deutsche Bank AG Makes New $2.43 Million Investment in Quaker Houghton $KWR

Key Points

• Deutsche Bank acquired 15,288 Quaker Houghton shares during the second quarter, establishing a position worth approximately $2.43 million. Institutional investors collectively own 77.46% of the company.
• Quaker Houghton reported quarterly EPS of $2.19, beating estimates of $1.66, while revenue rose 10.2% year over year to $532.55 million. The company also authorized a $250 million share-repurchase program.
• The company increased its quarterly dividend to $0.53 per share, representing a $2.12 annualized payout and a 1.3% yield. Analysts maintain a consensus “Buy” rating with an average price target of $187.

Deutsche Bank AG acquired a new position in shares of Quaker Houghton (NYSE:KWR - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 15,288 shares of the specialty chemicals company's stock, valued at approximately $2,429,000. Deutsche Bank AG owned approximately 0.09% of Quaker Houghton at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wellington Management Group LLP grew its stake in shares of Quaker Houghton by 14.4% in the 4th quarter. Wellington Management Group LLP now owns 756,988 shares of the specialty chemicals company's stock worth $103,942,000 after buying an additional 95,100 shares in the last quarter. Royce & Associates LP raised its position in shares of Quaker Houghton by 19.2% during the 4th quarter. Royce & Associates LP now owns 755,740 shares of the specialty chemicals company's stock valued at $103,771,000 after buying an additional 121,854 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Quaker Houghton by 5.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 750,789 shares of the specialty chemicals company's stock valued at $93,271,000 after buying an additional 38,261 shares in the last quarter. State Street Corp lifted its holdings in shares of Quaker Houghton by 9.2% in the 2nd quarter. State Street Corp now owns 596,618 shares of the specialty chemicals company's stock valued at $66,785,000 after acquiring an additional 50,264 shares during the last quarter. Finally, William Blair Investment Management LLC lifted its holdings in shares of Quaker Houghton by 33.6% in the 4th quarter. William Blair Investment Management LLC now owns 469,981 shares of the specialty chemicals company's stock valued at $64,533,000 after acquiring an additional 118,321 shares during the last quarter. 77.46% of the stock is currently owned by institutional investors.

Quaker Houghton Trading Down 0.5%

NYSE:KWR opened at $163.92 on Friday. The stock has a market capitalization of $2.82 billion, a price-to-earnings ratio of 29.22, a PEG ratio of 1.11 and a beta of 1.40. Quaker Houghton has a 52 week low of $112.18 and a 52 week 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 firm has a 50 day moving average of $158.70 and a 200 day moving average of $146.96.

Quaker Houghton (NYSE:KWR - Get Free Report) last issued its quarterly earnings results 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 business had revenue of $532.55 million for the quarter, compared to the consensus estimate of $504.63 million. During the same period in the prior year, the firm posted $1.71 earnings per share. The business's quarterly revenue was up 10.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Quaker Houghton will post 7.85 earnings per share for the current fiscal year.

Quaker Houghton announced that its Board of Directors has authorized a share repurchase plan 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 purchase up to 10.1% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.

Quaker Houghton Increases Dividend

The business 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 annualized dividend and a yield of 1.3%. This is a boost from Quaker Houghton's previous quarterly dividend of $0.51. Quaker Houghton's payout ratio is presently 36.19%.

Insiders Place Their Bets

In other Quaker Houghton news, Director William H. Osborne sold 600 shares of the company's stock in a transaction that occurred on 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 owned 616 shares in the company, valued at approximately $103,678.96. This represents a 49.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.00% of the company's stock.

Analysts Set New Price Targets

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

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.

Want to see what other hedge funds are holding KWR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Quaker Houghton (NYSE:KWR - Free Report).

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