Janus Henderson Group PLC boosted its position in shares of Quaker Houghton (NYSE:KWR – Free Report) by 1.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 199,349 shares of the specialty chemicals company’s stock after buying an additional 3,354 shares during the quarter. Janus Henderson Group PLC’s holdings in Quaker Houghton were worth $24,766,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of KWR. Amundi increased its position in shares of Quaker Houghton by 50.0% in the first quarter. Amundi now owns 2,650 shares of the specialty chemicals company’s stock valued at $329,000 after buying an additional 883 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Quaker Houghton by 51.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 344 shares of the specialty chemicals company’s stock valued at $43,000 after buying an additional 117 shares in the last quarter. California State Teachers Retirement System lifted its position in shares of Quaker Houghton by 29.3% during the 1st quarter. California State Teachers Retirement System now owns 17,072 shares of the specialty chemicals company’s stock valued at $2,121,000 after buying an additional 3,873 shares in the last quarter. Royal Bank of Canada grew its stake in Quaker Houghton by 11.2% in the 1st quarter. Royal Bank of Canada now owns 35,868 shares of the specialty chemicals company’s stock valued at $4,456,000 after acquiring an additional 3,607 shares during the period. Finally, American Capital Management Inc. grew its position in shares of Quaker Houghton by 47.8% in the first quarter. American Capital Management Inc. now owns 38,642 shares of the specialty chemicals company’s stock valued at $4,800,000 after purchasing an additional 12,496 shares during the period. Institutional investors and hedge funds own 77.46% of the company’s stock.
Quaker Houghton Price Performance
Shares of KWR opened at $168.15 on Tuesday. The company has a market cap of $2.89 billion, a P/E ratio of 29.97, a PEG ratio of 1.23 and a beta of 1.40. Quaker Houghton has a fifty-two week low of $112.18 and a fifty-two week high of $183.01. The company has a quick ratio of 1.70, a current ratio of 2.46 and a debt-to-equity ratio of 0.62. The firm’s 50 day moving average price is $150.31 and its 200 day moving average price is $145.79.
Quaker Houghton declared that its Board of Directors has approved a share buyback program on Wednesday, May 13th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the specialty chemicals company to purchase up to 10.1% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.
Quaker Houghton Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Friday, October 16th will be issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 1.3%. This is a boost from Quaker Houghton’s previous quarterly dividend of $0.51. The ex-dividend date is Friday, October 16th. Quaker Houghton’s dividend payout ratio (DPR) is 36.19%.
Insider Buying and Selling
In related 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 transaction of $106,557.87. Following the completion of the transaction, the executive vice president directly owned 6,748 shares of the company’s stock, valued at $983,655.96. The trade was a 9.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.00% of the stock is owned by insiders.
Wall Street Analyst Weigh In
Several equities research analysts have commented on KWR shares. Jefferies Financial Group cut their price objective on Quaker Houghton from $203.00 to $175.00 and set a “buy” rating for the company in a research note on Monday, April 6th. Seaport Research Partners raised Quaker Houghton from a “neutral” rating to a “buy” rating and set a $175.00 price target on the stock in a research note on Friday, April 17th. Zacks Research upgraded Quaker Houghton from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 21st. Truist Financial reissued a “buy” rating and issued a $190.00 price objective (up from $172.00) on shares of Quaker Houghton in a research note on Monday. Finally, Royal Bank Of Canada lifted their target price on shares of Quaker Houghton from $177.00 to $198.00 and gave the stock an “outperform” rating in a research note on Monday. Four equities 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 company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $187.67.
View Our Latest Analysis on Quaker Houghton
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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