Fifth Third Bancorp Increases Stock Holdings in Quaker Houghton $KWR

Fifth Third Bancorp grew its stake in shares of Quaker Houghton (NYSE:KWR) by 3,715.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,371 shares of the specialty chemicals company’s stock after purchasing an additional 6,204 shares during the quarter. Fifth Third Bancorp’s holdings in Quaker Houghton were worth $791,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the stock. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Quaker Houghton in the 4th quarter valued at $27,000. Farther Finance Advisors LLC lifted its position in Quaker Houghton by 165.0% in the fourth quarter. Farther Finance Advisors LLC now owns 273 shares of the specialty chemicals company’s stock valued at $37,000 after acquiring an additional 170 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in Quaker Houghton by 284.8% in the second quarter. EverSource Wealth Advisors LLC now owns 304 shares of the specialty chemicals company’s stock valued at $34,000 after acquiring an additional 225 shares during the last quarter. Global Retirement Partners LLC boosted its stake in Quaker Houghton by 556.9% in the fourth quarter. Global Retirement Partners LLC now owns 335 shares of the specialty chemicals company’s stock valued at $46,000 after acquiring an additional 284 shares in the last quarter. Finally, First Horizon Corp boosted its stake in Quaker Houghton by 123.3% in the fourth quarter. First Horizon Corp now owns 355 shares of the specialty chemicals company’s stock valued at $49,000 after acquiring an additional 196 shares in the last quarter. Institutional investors and hedge funds own 77.46% of the company’s stock.

Quaker Houghton Stock Down 0.2%

Shares of Quaker Houghton stock opened at $151.12 on Tuesday. Quaker Houghton has a one year low of $111.42 and a one year high of $183.01. The company has a market cap of $2.62 billion, a P/E ratio of 539.75, a PEG ratio of 1.16 and a beta of 1.40. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.72 and a current ratio of 2.45. The firm has a fifty day moving average of $148.52 and a two-hundred day moving average of $145.54.

Quaker Houghton (NYSE:KWR) last issued its earnings results on Thursday, April 30th. The specialty chemicals company reported $1.63 earnings per share for the quarter, missing the consensus estimate of $1.66 by ($0.03). Quaker Houghton had a net margin of 0.22% and a return on equity of 9.03%. 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 previous year, the firm earned $1.58 EPS. The firm’s revenue was up 8.5% on a year-over-year basis. On average, analysts forecast that Quaker Houghton will post 7.16 earnings per share for the current year.

Quaker Houghton announced that its board has authorized a share buyback plan on Wednesday, May 13th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the specialty chemicals company to repurchase up to 10.1% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Quaker Houghton Announces Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Friday, July 17th. Quaker Houghton’s payout ratio is currently 725.00%.

Insiders Place Their Bets

In other Quaker Houghton news, EVP Jeewat Bijlani sold 731 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president owned 6,748 shares in the company, valued at approximately $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 accessible through the SEC website. Corporate insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

KWR has been the topic of a number of research analyst reports. Royal Bank Of Canada reiterated an “outperform” rating and set a $177.00 target price on shares of Quaker Houghton in a research report on Friday, July 17th. Jefferies Financial Group decreased their target price on Quaker Houghton from $203.00 to $175.00 and set a “buy” rating for the company in a research report on Monday, April 6th. Seaport Research Partners upgraded 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. Wall Street Zen lowered Quaker Houghton from a “buy” rating to a “hold” rating in a research report on Sunday, April 12th. Finally, Truist Financial initiated coverage on Quaker Houghton in a research note on Monday, June 8th. They issued a “buy” rating and a $172.00 price objective for the company. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Quaker Houghton has a consensus rating of “Moderate Buy” and an average price target of $174.67.

About Quaker Houghton

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.