Quaker Houghton $KWR Stake Lessened by Copeland Capital Management LLC

Key Points

• Copeland Capital Management reduced its Quaker Houghton stake by 14% in the first quarter, selling 43,180 shares and leaving it with 265,051 shares valued at about $32.9 million.
• Quaker Houghton reported quarterly earnings of $1.63 per share, slightly below estimates, while revenue came in at $480.5 million, above expectations and up 8.5% year over year.
• The company’s board authorized a $250 million stock buyback and also declared a quarterly dividend of $0.508 per share, payable July 31.

Copeland Capital Management LLC trimmed its stake in shares of Quaker Houghton (NYSE:KWR - Free Report) by 14.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 265,051 shares of the specialty chemicals company's stock after selling 43,180 shares during the quarter. Copeland Capital Management LLC owned approximately 1.53% of Quaker Houghton worth $32,927,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Quaker Houghton in the 4th quarter worth about $27,000. EverSource Wealth Advisors LLC lifted its position in shares of Quaker Houghton by 284.8% during the second quarter. EverSource Wealth Advisors LLC now owns 304 shares of the specialty chemicals company's stock worth $34,000 after purchasing an additional 225 shares during the last quarter. Farther Finance Advisors LLC grew its stake 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 worth $37,000 after purchasing an additional 170 shares in the last quarter. Global Retirement Partners LLC grew its stake in Quaker Houghton by 556.9% in 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 in the last quarter. Finally, First Horizon Corp increased its holdings in Quaker Houghton by 123.3% in the fourth quarter. First Horizon Corp now owns 355 shares of the specialty chemicals company's stock valued at $49,000 after buying an additional 196 shares during the last quarter. 77.46% of the stock is owned by institutional investors and hedge funds.

Quaker Houghton Stock Performance

Shares of KWR opened at $150.41 on Friday. Quaker Houghton has a 1 year low of $111.42 and a 1 year high of $183.01. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.72 and a current ratio of 2.45. The company has a market cap of $2.61 billion, a price-to-earnings ratio of 537.21, a price-to-earnings-growth ratio of 1.19 and a beta of 1.40. The firm has a fifty day moving average of $147.32 and a 200-day moving average of $145.08.

Quaker Houghton (NYSE:KWR - Get Free Report) last announced its earnings results on Thursday, April 30th. The specialty chemicals company reported $1.63 earnings per share for the quarter, missing the consensus estimate of $1.66 by ($0.03). The business had revenue of $480.48 million for the quarter, compared to the consensus estimate of $463.70 million. Quaker Houghton had a net margin of 0.22% and a return on equity of 9.03%. The firm's revenue was up 8.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.58 EPS. As a group, equities analysts anticipate that Quaker Houghton will post 7.16 earnings per share for the current year.

Quaker Houghton declared that its Board of Directors has initiated a stock buyback program on Wednesday, May 13th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the specialty chemicals company to buy up to 10.1% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

Quaker Houghton Dividend Announcement

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

Insider Activity

In other 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 value of $106,557.87. Following the sale, the executive vice president owned 6,748 shares of the company's stock, valued at approximately $983,655.96. The trade was a 9.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.00% of the company's stock.

Analysts Set New Price Targets

KWR has been the topic of several research reports. Royal Bank Of Canada restated an "outperform" rating and set a $177.00 price objective on shares of Quaker Houghton in a research note on Friday. Truist Financial started coverage on Quaker Houghton in a report on Monday, June 8th. They issued a "buy" rating and a $172.00 price target for the company. Zacks Research raised Quaker Houghton from a "strong sell" rating to a "hold" rating in a research report on Thursday, May 21st. Jefferies Financial Group reduced their price objective on Quaker Houghton from $203.00 to $175.00 and set a "buy" rating on the stock in a research note on Monday, April 6th. Finally, Seaport Research Partners raised shares of Quaker Houghton from a "neutral" rating to a "buy" rating and set a $175.00 price objective for the company in a report on Friday, April 17th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $174.67.

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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