The Manufacturers Life Insurance Company bought a new stake in shares of Quaker Houghton (NYSE:KWR – Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 6,840 shares of the specialty chemicals company’s stock, valued at approximately $1,087,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of KWR. Cullen Capital Management LLC bought a new position in shares of Quaker Houghton during the 2nd quarter worth about $628,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in Quaker Houghton during the second quarter valued at about $444,000. Welch Capital Partners LLC NY acquired a new position in Quaker Houghton in the 2nd quarter valued at approximately $206,000. Quantbot Technologies LP bought a new stake in shares of Quaker Houghton in the 2nd quarter worth approximately $216,000. Finally, Emerald Investment Advisers LLC acquired a new stake in shares of Quaker Houghton during the 2nd quarter worth approximately $4,555,000. 77.46% of the stock is currently owned by institutional investors and hedge funds.
Quaker Houghton Trading Up 0.6%
NYSE:KWR opened at $161.26 on Friday. Quaker Houghton has a fifty-two week low of $112.18 and a fifty-two week high of $183.01. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.46 and a quick ratio of 1.70. The stock has a market capitalization of $2.78 billion, a PE ratio of 28.75, a price-to-earnings-growth ratio of 1.08 and a beta of 1.40. The business’s 50-day simple moving average is $159.94 and its 200-day simple moving average is $146.60.
Quaker Houghton Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Friday, October 16th will be given a $0.53 dividend. This is a boost from Quaker Houghton’s previous quarterly dividend of $0.51. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, October 16th. Quaker Houghton’s payout ratio is presently 36.19%.
Quaker Houghton announced that its board has initiated a share repurchase plan on Wednesday, May 13th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the specialty chemicals company to buy up to 10.1% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.
Wall Street Analyst Weigh In
KWR has been the subject of several research reports. Zacks Research raised Quaker Houghton from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 6th. Deutsche Bank Aktiengesellschaft increased their target price on Quaker Houghton from $165.00 to $185.00 and gave the stock a “buy” rating in a report on Tuesday, August 25th. Royal Bank Of Canada upped their target price on shares of Quaker Houghton from $177.00 to $198.00 and gave the stock an “outperform” rating in a report on Monday, August 3rd. Wall Street Zen raised shares of Quaker Houghton from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. Finally, Weiss Ratings upgraded Quaker Houghton from a “sell (d+)” rating to a “hold (c)” rating in a report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $187.00.
Check Out Our Latest Stock Report on KWR
Insider Buying and Selling
In related news, Director William Osborne sold 600 shares of the stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $168.31, for a total transaction of $100,986.00. Following the completion of the transaction, the director owned 616 shares in the company, valued at approximately $103,678.96. This represents a 49.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.00% of the company’s stock.
Quaker Houghton 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.
See Also
- Five stocks we like better than Quaker Houghton
- Revolution Medicines Got Its Breakthrough—What Moves It Next?
- Retail Earnings Just Exposed a Bigger Divide in the U.S. Consumer Economy
- FB Financial’s Southern Expansion and Buybacks Drive Analyst Optimism
- AST SpaceMobile Stock Soared 12%—This Was the Catalyst
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.
