M&T Bank Corp Increases Stock Holdings in Quaker Houghton $KWR

Key Points

• M&T Bank Corp raised its stake in Quaker Houghton by 2,256.1% in Q4, buying an additional 36,888 shares to hold 38,523 shares (about 0.22% of the company) worth roughly $5.29 million.
• Institutional ownership is high at 77.46%, with big recent moves including a new ~$46.3M position from William Blair and large increases from Victory Capital, Wellington, and Millennium, signaling strong hedge-fund interest.
• Financially, revenue grew 5.5% year-over-year but quarterly EPS missed by $0.06; the company declared a quarterly dividend of $0.508 (1.4% yield), while analysts are mixed with a consensus "Hold" and a $163 price target.

M&T Bank Corp raised its stake in Quaker Houghton (NYSE:KWR - Free Report) by 2,256.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 38,523 shares of the specialty chemicals company's stock after purchasing an additional 36,888 shares during the period. M&T Bank Corp owned 0.22% of Quaker Houghton worth $5,290,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in KWR. William Blair Investment Management LLC purchased a new position in shares of Quaker Houghton during the third quarter worth approximately $46,331,000. Victory Capital Management Inc. grew its position in shares of Quaker Houghton by 1,897.7% during the third quarter. Victory Capital Management Inc. now owns 321,637 shares of the specialty chemicals company's stock worth $42,376,000 after acquiring an additional 305,537 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Quaker Houghton by 79.9% during the third quarter. Wellington Management Group LLP now owns 661,888 shares of the specialty chemicals company's stock worth $87,204,000 after acquiring an additional 293,977 shares during the last quarter. Scopus Asset Management L.P. purchased a new position in shares of Quaker Houghton during the second quarter worth approximately $9,353,000. Finally, Millennium Management LLC grew its position in shares of Quaker Houghton by 3,639.8% during the third quarter. Millennium Management LLC now owns 79,696 shares of the specialty chemicals company's stock worth $10,500,000 after acquiring an additional 77,565 shares during the last quarter. 77.46% of the stock is currently owned by hedge funds and other institutional investors.

Quaker Houghton Price Performance

Shares of NYSE KWR opened at $141.05 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.42 and a quick ratio of 1.72. The stock has a fifty day moving average price of $135.77 and a 200 day moving average price of $140.59. Quaker Houghton has a 1-year low of $99.18 and a 1-year high of $183.01. The company has a market cap of $2.44 billion, a PE ratio of -1,175.28, a P/E/G ratio of 0.87 and a beta of 1.43.

Quaker Houghton (NYSE:KWR - Get Free Report) last issued its quarterly earnings results on Monday, February 23rd. The specialty chemicals company reported $1.65 earnings per share for the quarter, missing the consensus estimate of $1.71 by ($0.06). Quaker Houghton had a positive return on equity of 8.99% and a negative net margin of 0.13%.The company had revenue of $468.48 million for the quarter, compared to analyst estimates of $465.17 million. During the same period in the prior year, the business earned $1.33 earnings per share. Quaker Houghton's revenue for the quarter was up 5.5% compared to the same quarter last year. Sell-side analysts forecast that Quaker Houghton will post 7.99 EPS for the current year.

Quaker Houghton Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Thursday, April 16th will be issued a dividend of $0.508 per share. The ex-dividend date of this dividend is Thursday, April 16th. This represents a $2.03 annualized dividend and a dividend yield of 1.4%. Quaker Houghton's dividend payout ratio (DPR) is currently -1,691.67%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on KWR shares. Royal Bank Of Canada lowered their target price on shares of Quaker Houghton from $184.00 to $151.00 and set an "outperform" rating on the stock in a research report on Friday. Wall Street Zen lowered shares of Quaker Houghton from a "buy" rating to a "hold" rating in a research report on Sunday, April 12th. Zacks Research lowered shares of Quaker Houghton from a "hold" rating to a "strong sell" rating in a research report on Wednesday. Seaport Research Partners upgraded shares of Quaker Houghton from a "neutral" rating to a "buy" rating and set a $175.00 target price on the stock in a research report on Friday, April 17th. Finally, Jefferies Financial Group lowered their target price on shares of Quaker Houghton from $203.00 to $175.00 and set a "buy" rating on the stock in a research report on Monday, April 6th. Three analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $163.00.

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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