Royal Bank of Canada Boosts Stake in Quaker Houghton $KWR

Royal Bank of Canada increased its holdings in shares of Quaker Houghton (NYSE:KWR) by 11.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 35,868 shares of the specialty chemicals company’s stock after acquiring an additional 3,607 shares during the quarter. Royal Bank of Canada’s holdings in Quaker Houghton were worth $4,456,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of KWR. Keybank National Association OH raised its holdings in Quaker Houghton by 3.5% in the 1st quarter. Keybank National Association OH now owns 2,084 shares of the specialty chemicals company’s stock valued at $259,000 after acquiring an additional 71 shares during the last quarter. CWM LLC lifted its stake in Quaker Houghton by 1.8% in the 4th quarter. CWM LLC now owns 4,226 shares of the specialty chemicals company’s stock worth $580,000 after purchasing an additional 73 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Quaker Houghton by 1.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 8,600 shares of the specialty chemicals company’s stock worth $1,068,000 after purchasing an additional 83 shares during the last quarter. State of Alaska Department of Revenue grew its position in shares of Quaker Houghton by 1.3% in the fourth quarter. State of Alaska Department of Revenue now owns 7,782 shares of the specialty chemicals company’s stock valued at $1,067,000 after purchasing an additional 99 shares in the last quarter. Finally, Integrated Wealth Concepts LLC grew its position in shares of Quaker Houghton by 7.1% in the first quarter. Integrated Wealth Concepts LLC now owns 1,650 shares of the specialty chemicals company’s stock valued at $204,000 after purchasing an additional 109 shares in the last quarter. Hedge funds and other institutional investors own 77.46% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Jeewat Bijlani sold 731 shares of the business’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $145.77, for a total value of $106,557.87. Following the sale, the executive vice president directly owned 6,748 shares in the company, valued at approximately $983,655.96. The trade was a 9.77% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director William H. Osborne sold 600 shares of the company’s stock in a transaction dated 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 directly owned 616 shares in the company, valued at $103,678.96. The trade was a 49.34% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 1.00% of the company’s stock.

Quaker Houghton Stock Up 1.6%

Shares of NYSE KWR opened at $171.63 on Friday. The company has a market capitalization of $2.95 billion, a P/E ratio of 30.59, a P/E/G ratio of 1.20 and a beta of 1.40. 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 company has a 50 day simple moving average of $154.53 and a 200-day simple moving average of $146.54. Quaker Houghton has a 1 year low of $112.18 and a 1 year high of $183.01.

Quaker Houghton (NYSE:KWR) last released its quarterly earnings data on Thursday, July 30th. The specialty chemicals company reported $2.19 EPS for the quarter, beating analysts’ consensus estimates of $1.66 by $0.53. The firm had revenue of $532.55 million for the quarter, compared to analysts’ expectations of $504.63 million. Quaker Houghton had a return on equity of 9.55% and a net margin of 4.94%.The firm’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.71 earnings per share. On average, equities research analysts predict that Quaker Houghton will post 7.72 earnings per share for the current year.

Quaker Houghton declared that its board has approved a share repurchase program 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 purchase up to 10.1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Quaker Houghton Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Friday, October 16th will be paid a $0.53 dividend. This is a boost from Quaker Houghton’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Friday, October 16th. This represents a $2.12 annualized dividend and a dividend yield of 1.2%. Quaker Houghton’s dividend payout ratio is currently 36.19%.

Analysts Set New Price Targets

KWR has been the topic of a number of analyst reports. Zacks Research upgraded Quaker Houghton from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 6th. Truist Financial restated a “buy” rating and issued a $190.00 target price (up from $172.00) on shares of Quaker Houghton in a report on Monday, August 3rd. Seaport Research Partners raised Quaker Houghton from a “neutral” rating to a “buy” rating and set a $175.00 target price for the company in a research note on Friday, April 17th. Royal Bank Of Canada lifted their price target on Quaker Houghton from $177.00 to $198.00 and gave the stock an “outperform” rating in a report on Monday, August 3rd. Finally, Wall Street Zen raised shares of Quaker Houghton from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $187.67.

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.