Raymond James Financial Inc. Has $32.22 Million Stake in Quaker Houghton $KWR

Key Points

• Raymond James Financial Inc. increased its stake in Quaker Houghton by 26.6%, owning 260,665 shares valued at approximately $32.22 million as of the last filing.
• Quaker Houghton reported a 4.3% increase in quarterly revenue year-over-year, although its earnings per share missed estimates by $0.11.
• The company has announced a dividend increase to $0.508 per share, marking an annualized payout of $2.03 with a yield of 1.4%.

Raymond James Financial Inc. raised its stake in Quaker Houghton (NYSE:KWR - Free Report) by 26.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 260,665 shares of the specialty chemicals company's stock after buying an additional 54,800 shares during the quarter. Raymond James Financial Inc. owned 1.47% of Quaker Houghton worth $32,221,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the stock. American Century Companies Inc. lifted its stake in Quaker Houghton by 35.1% in the first quarter. American Century Companies Inc. now owns 19,712 shares of the specialty chemicals company's stock valued at $2,437,000 after buying an additional 5,118 shares during the period. Caitong International Asset Management Co. Ltd lifted its stake in Quaker Houghton by 573.1% in the first quarter. Caitong International Asset Management Co. Ltd now owns 875 shares of the specialty chemicals company's stock valued at $108,000 after buying an additional 745 shares during the period. Russell Investments Group Ltd. lifted its stake in Quaker Houghton by 49.6% in the first quarter. Russell Investments Group Ltd. now owns 78,556 shares of the specialty chemicals company's stock valued at $9,710,000 after buying an additional 26,047 shares during the period. Public Sector Pension Investment Board lifted its stake in Quaker Houghton by 27.2% in the first quarter. Public Sector Pension Investment Board now owns 43,390 shares of the specialty chemicals company's stock valued at $5,363,000 after buying an additional 9,286 shares during the period. Finally, Nuveen LLC acquired a new position in Quaker Houghton in the first quarter valued at about $6,719,000. Institutional investors and hedge funds own 77.46% of the company's stock.

Quaker Houghton Stock Up 5.3%

NYSE:KWR opened at $144.2120 on Friday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.87 and a current ratio of 2.56. The company has a market cap of $2.51 billion, a PE ratio of -335.37, a PEG ratio of 1.60 and a beta of 1.38. Quaker Houghton has a 52-week low of $95.91 and a 52-week high of $180.96. The stock has a 50-day simple moving average of $123.50 and a 200 day simple moving average of $120.34.

Quaker Houghton (NYSE:KWR - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The specialty chemicals company reported $1.71 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.82 by ($0.11). The firm had revenue of $483.40 million for the quarter, compared to the consensus estimate of $463.57 million. Quaker Houghton had a positive return on equity of 8.35% and a negative net margin of 0.39%.The firm's quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.13 earnings per share. On average, sell-side analysts expect that Quaker Houghton will post 7.75 EPS for the current fiscal year.

Quaker Houghton Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Friday, October 17th will be issued a dividend of $0.508 per share. The ex-dividend date is Friday, October 17th. This is a boost from Quaker Houghton's previous quarterly dividend of $0.49. This represents a $2.03 dividend on an annualized basis and a dividend yield of 1.4%. Quaker Houghton's dividend payout ratio is -451.16%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on KWR. Royal Bank Of Canada set a $135.00 price target on Quaker Houghton and gave the stock an "outperform" rating in a research report on Monday, August 4th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Quaker Houghton in a research report on Wednesday, August 13th. Finally, Jefferies Financial Group raised Quaker Houghton from a "hold" rating to a "buy" rating and set a $146.00 price target on the stock in a research report on Monday, June 9th. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Quaker Houghton has an average rating of "Moderate Buy" and an average price target of $150.75.

Quaker Houghton Profile

Quaker Chemical Corporation, together with its subsidiaries, develops, produces, and markets various formulated specialty chemical products for a range of heavy industrial and manufacturing applications in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It offers metal removal fluids, cleaning fluids, corrosion inhibitors, metal drawing and forming fluids, die-cast mold releases, heat treatment and quenchants, metal forging fluids, hydraulic fluids, specialty greases, offshore sub-sea energy control fluids, rolling lubricants, rod and wire drawing fluids, and surface treatment chemicals.

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