Heartland Advisors Inc. purchased a new position in Quaker Houghton (NYSE:KWR – Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 165,289 shares of the specialty chemicals company’s stock, valued at approximately $26,259,000. Quaker Houghton accounts for 1.2% of Heartland Advisors Inc.’s portfolio, making the stock its 9th biggest position.
Several other hedge funds have also recently made changes to their positions in the stock. Kohmann Bosshard Financial Services LLC purchased a new stake in Quaker Houghton in the fourth quarter worth approximately $27,000. Allworth Financial LP purchased a new stake in Quaker Houghton during the 2nd quarter valued at $39,000. Farther Finance Advisors LLC raised its stake in Quaker Houghton by 165.0% during the 4th quarter. Farther Finance Advisors LLC now owns 273 shares of the specialty chemicals company’s stock valued at $37,000 after buying an additional 170 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Quaker Houghton by 284.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 304 shares of the specialty chemicals company’s stock valued at $34,000 after buying an additional 225 shares during the period. Finally, Global Retirement Partners LLC lifted its holdings in shares of Quaker Houghton by 556.9% during the 4th quarter. Global Retirement Partners LLC now owns 335 shares of the specialty chemicals company’s stock valued at $46,000 after buying an additional 284 shares during the period. 77.46% of the stock is owned by hedge funds and other institutional investors.
Quaker Houghton Stock Down 1.1%
KWR opened at $162.95 on Friday. The firm’s 50 day simple moving average is $157.48 and its two-hundred day simple moving average is $147.15. The company has a market capitalization of $2.80 billion, a PE ratio of 29.05, a PEG ratio of 1.17 and a beta of 1.40. Quaker Houghton has a 1-year low of $112.18 and a 1-year high of $183.01. The company has a current ratio of 2.46, a quick ratio of 1.70 and a debt-to-equity ratio of 0.62.
Quaker Houghton declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, May 13th that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the specialty chemicals company to reacquire up to 10.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
Quaker Houghton Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Friday, October 16th will be issued a dividend of $0.53 per share. This is a boost from Quaker Houghton’s previous quarterly dividend of $0.51. This represents a $2.12 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Friday, October 16th. Quaker Houghton’s dividend payout ratio is presently 36.19%.
Insider Activity
In other news, EVP Jeewat Bijlani sold 731 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $145.77, for a total value of $106,557.87. Following the transaction, the executive vice president owned 6,748 shares of the company’s stock, valued at $983,655.96. This trade represents a 9.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William H. Osborne sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $168.31, for a total value of $100,986.00. Following the transaction, the director owned 616 shares of the company’s stock, valued at approximately $103,678.96. This trade represents a 49.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 1.00% of the company’s stock.
Analyst Ratings Changes
Several analysts recently commented on the company. Truist Financial reaffirmed a “buy” rating and issued a $190.00 price objective (up from $172.00) on shares of Quaker Houghton in a report on Monday, August 3rd. Royal Bank Of Canada increased their target price on Quaker Houghton from $177.00 to $198.00 and gave the company an “outperform” rating in a report on Monday, August 3rd. Wall Street Zen raised Quaker Houghton from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. Zacks Research upgraded Quaker Houghton from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 6th. Finally, Weiss Ratings upgraded Quaker Houghton from a “sell (d+)” rating to a “hold (c)” rating in a research note on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Quaker Houghton presently has an average rating of “Buy” and a consensus target price of $187.67.
Get Our Latest Stock Report 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.
Further Reading
- Five stocks we like better than Quaker Houghton
- Blueprint for a Boom: SEC Clears the Crypto Runway
- Ross Stores Just Flipped the Off-Price Retail Story After TJX’s Marmaxx Miss
- Advance Auto Parts Plunged, But Its Turnaround Is Still Working
- Is Palo Alto Networks Priced for Perfection Again as AI Security Demand Accelerates?
Want to see what other hedge funds are holding KWR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Quaker Houghton (NYSE:KWR – Free Report).
Receive News & Ratings for Quaker Houghton Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Quaker Houghton and related companies with MarketBeat.com's FREE daily email newsletter.
