Bard Associates Inc. Invests $2.62 Million in Quaker Houghton $KWR

Bard Associates Inc. bought a new stake in Quaker Houghton (NYSE:KWR) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 16,506 shares of the specialty chemicals company’s stock, valued at approximately $2,622,000.

Several other hedge funds and other institutional investors have also modified their holdings of KWR. BlackRock Inc. purchased a new position in Quaker Houghton during the 2nd quarter valued at about $335,290,000. Wellington Management Group LLP increased its stake in shares of Quaker Houghton by 79.9% in the third quarter. Wellington Management Group LLP now owns 661,888 shares of the specialty chemicals company’s stock worth $87,204,000 after acquiring an additional 293,977 shares during the last quarter. Heartland Advisors Inc. purchased a new stake in shares of Quaker Houghton during the second quarter worth $26,259,000. Global Alpha Capital Management Ltd. purchased a new stake in shares of Quaker Houghton during the fourth quarter worth $21,132,000. Finally, Bank of New York Mellon Corp acquired a new stake in Quaker Houghton during the second quarter valued at $21,458,000. Institutional investors and hedge funds own 77.46% of the company’s stock.

Quaker Houghton Price Performance

NYSE KWR opened at $162.95 on Friday. Quaker Houghton has a twelve month low of $112.18 and a twelve month high of $183.01. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.70 and a current ratio of 2.46. The stock has a market capitalization of $2.80 billion, a PE ratio of 29.05, a P/E/G ratio of 1.17 and a beta of 1.40. The stock has a 50-day simple moving average of $157.48 and a 200 day simple moving average of $147.15.

Quaker Houghton (NYSE:KWR) last released its earnings results on Thursday, July 30th. The specialty chemicals company reported $2.19 earnings per share (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 analyst estimates of $504.63 million. Quaker Houghton had a return on equity of 9.55% and a net margin of 4.94%.The company’s revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.71 EPS. Research analysts anticipate that Quaker Houghton will post 7.72 EPS for the current year.

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 paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 1.3%. The ex-dividend date is Friday, October 16th. This is an increase from Quaker Houghton’s previous quarterly dividend of $0.51. Quaker Houghton’s dividend payout ratio is currently 36.19%.

Quaker Houghton declared that its board has approved a share repurchase program 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 buy up to 10.1% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

KWR has been the subject of several recent research reports. Truist Financial reissued a “buy” rating and issued a $190.00 price target (up from $172.00) on shares of Quaker Houghton in a research note on Monday, August 3rd. Zacks Research upgraded shares of Quaker Houghton from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 6th. Weiss Ratings raised shares of Quaker Houghton from a “sell (d+)” rating to a “hold (c)” rating in a research report on Monday, August 3rd. Wall Street Zen upgraded shares of Quaker Houghton from a “hold” rating to a “buy” rating in a report on Saturday, August 1st. Finally, Royal Bank Of Canada lifted their price objective on shares of Quaker Houghton from $177.00 to $198.00 and gave the company an “outperform” rating in a research note on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $187.67.

Insider Buying and Selling at Quaker Houghton

In other news, Director William H. Osborne sold 600 shares of the business’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 transaction, the director owned 616 shares in the company, valued at approximately $103,678.96. The trade was a 49.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Jeewat Bijlani sold 731 shares of Quaker Houghton stock in a transaction that occurred on Tuesday, May 26th. The stock was 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 $983,655.96. The trade was a 9.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.00% of the stock is owned by corporate insiders.

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.