William Blair Investment Management LLC Purchases 118,321 Shares of Quaker Houghton $KWR

Key Points

• William Blair Investment Management increased its Quaker Houghton stake by 33.6% in the fourth quarter, buying 118,321 additional shares and bringing its holding to 469,981 shares worth about $64.5 million.
• Quaker Houghton reported quarterly EPS of $1.63, slightly below estimates, but revenue of $480.48 million beat expectations and rose 8.5% year over year.
• The company authorized a $250 million share repurchase program and declared a quarterly dividend of $0.508 per share, implying a 1.4% yield.

William Blair Investment Management LLC boosted its position in Quaker Houghton (NYSE:KWR - Free Report) by 33.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 469,981 shares of the specialty chemicals company's stock after purchasing an additional 118,321 shares during the period. William Blair Investment Management LLC owned approximately 2.71% of Quaker Houghton worth $64,533,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in KWR. Victory Capital Management Inc. raised its stake 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 valued at $42,376,000 after acquiring an additional 305,537 shares in the last quarter. Wellington Management Group LLP raised its stake 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 valued at $87,204,000 after acquiring an additional 293,977 shares in the last quarter. Scopus Asset Management L.P. bought a new stake in shares of Quaker Houghton during the second quarter valued at approximately $9,353,000. Millennium Management LLC raised its stake 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 valued at $10,500,000 after acquiring an additional 77,565 shares in the last quarter. Finally, State Street Corp raised its stake in shares of Quaker Houghton by 9.2% during the second 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 in the last quarter. Institutional investors own 77.46% of the company's stock.

Quaker Houghton Stock Performance

Shares of KWR stock opened at $141.72 on Monday. The firm has a market cap of $2.46 billion, a price-to-earnings ratio of 506.15, a PEG ratio of 1.08 and a beta of 1.42. The company's 50 day moving average is $131.39 and its 200 day moving average is $141.69. The company has a quick ratio of 1.72, a current ratio of 2.45 and a debt-to-equity ratio of 0.61. Quaker Houghton has a 52-week low of $103.36 and a 52-week high of $183.01.

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

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

Quaker Houghton Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, July 17th will be issued a $0.508 dividend. This represents a $2.03 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Friday, July 17th. Quaker Houghton's payout ratio is currently 725.00%.

Wall Street Analysts Forecast Growth

KWR has been the subject of several research analyst reports. Wall Street Zen downgraded shares of Quaker Houghton from a "buy" rating to a "hold" rating in a research note on Sunday, April 12th. Zacks Research raised shares of Quaker Houghton from a "strong sell" rating to a "hold" rating in a research note on Thursday. Royal Bank Of Canada lifted their price target on shares of Quaker Houghton from $151.00 to $157.00 and gave the company an "outperform" rating in a research note on Monday, May 4th. Weiss Ratings raised shares of Quaker Houghton from a "sell (d)" rating to a "sell (d+)" rating in a research note on Wednesday, May 6th. Finally, Jefferies Financial Group decreased their price target on shares of Quaker Houghton from $203.00 to $175.00 and set a "buy" rating for the company in a research note on Monday, April 6th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus 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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