Quaker Houghton $KWR Shares Acquired by Royce & Associates LP

Key Points

• Royce & Associates LP increased its stake in Quaker Houghton by 19.2% in the fourth quarter, bringing its holdings to 755,740 shares worth about $103.8 million. The fund now owns roughly 4.36% of the company and makes KWR its second-largest position.
• Quaker Houghton recently reported quarterly EPS of $1.63, slightly below Wall Street expectations, though revenue came in at $480.48 million, ahead of estimates and up 8.5% year over year.
• The company’s board approved a $250 million share buyback program and declared a quarterly dividend of $0.508 per share, signaling continued capital returns to shareholders.

Royce & Associates LP raised its holdings in shares of Quaker Houghton (NYSE:KWR - Free Report) by 19.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 755,740 shares of the specialty chemicals company's stock after purchasing an additional 121,854 shares during the quarter. Quaker Houghton makes up 1.1% of Royce & Associates LP's holdings, making the stock its 2nd biggest position. Royce & Associates LP owned about 4.36% of Quaker Houghton worth $103,771,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in KWR. William Blair Investment Management LLC acquired a new stake in Quaker Houghton during the 3rd quarter valued at $46,331,000. Victory Capital Management Inc. lifted its holdings in Quaker Houghton by 1,897.7% during the 3rd quarter. Victory Capital Management Inc. now owns 321,637 shares of the specialty chemicals company's stock valued at $42,376,000 after purchasing an additional 305,537 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Quaker Houghton by 79.9% during 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 purchasing an additional 293,977 shares during the last quarter. Scopus Asset Management L.P. acquired a new stake in shares of Quaker Houghton during the second quarter worth $9,353,000. Finally, Millennium Management LLC lifted its holdings 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 buying an additional 77,565 shares in the last quarter. Institutional investors and hedge funds own 77.46% of the company's stock.

Quaker Houghton Stock Down 0.1%

Shares of NYSE KWR opened at $141.72 on Tuesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.72 and a current ratio of 2.45. Quaker Houghton has a 52 week low of $103.36 and a 52 week high of $183.01. The stock has a market capitalization of $2.46 billion, a P/E ratio of 506.15, a PEG ratio of 1.08 and a beta of 1.42. The stock's fifty day moving average is $131.81 and its 200 day moving average is $141.77.

Quaker Houghton (NYSE:KWR - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The specialty chemicals company reported $1.63 EPS for the quarter, missing analysts' consensus estimates of $1.66 by ($0.03). Quaker Houghton had a return on equity of 9.03% and a net margin of 0.22%.The company had revenue of $480.48 million during the quarter, compared to the consensus estimate of $463.70 million. During the same quarter in the previous year, the business posted $1.58 EPS. The firm's revenue for the quarter was up 8.5% on a year-over-year basis. Sell-side analysts forecast that Quaker Houghton will post 7.19 earnings per share for the current fiscal year.

Quaker Houghton declared that its Board of Directors has approved a share buyback program 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 buy up to 10.1% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board believes its shares are undervalued.

Quaker Houghton Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 17th will be given a $0.508 dividend. The ex-dividend date is Friday, July 17th. This represents a $2.03 dividend on an annualized basis and a dividend yield of 1.4%. Quaker Houghton's dividend payout ratio (DPR) is presently 725.00%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on KWR. Seaport Research Partners raised Quaker Houghton from a "neutral" rating to a "buy" rating and set a $175.00 target price for the company in a report on Friday, April 17th. Zacks Research raised Quaker Houghton from a "strong sell" rating to a "hold" rating in a report on Thursday, May 21st. Weiss Ratings raised Quaker Houghton from a "sell (d)" rating to a "sell (d+)" rating in a report on Wednesday, May 6th. Royal Bank Of Canada lifted their target price on Quaker Houghton from $151.00 to $157.00 and gave the stock an "outperform" rating in a report on Monday, May 4th. Finally, Wall Street Zen downgraded Quaker Houghton from a "buy" rating to a "hold" rating in a report on Sunday, April 12th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $166.00.

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.

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