Penn Capital Management Company LLC Reduces Stock Position in Quaker Houghton $KWR

Penn Capital Management Company LLC trimmed its position in Quaker Houghton (NYSE:KWR) by 46.8% during the second quarter, Holdings Channel.com reports. The firm owned 9,137 shares of the specialty chemicals company’s stock after selling 8,024 shares during the period. Penn Capital Management Company LLC’s holdings in Quaker Houghton were worth $1,452,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. EverSource Wealth Advisors LLC raised its position in shares of 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 buying an additional 225 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in Quaker Houghton by 165.0% in the 4th 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. Allworth Financial LP purchased a new position in shares of Quaker Houghton during the 2nd quarter worth $39,000. Global Retirement Partners LLC boosted its holdings in shares of Quaker Houghton by 556.9% during the fourth quarter. Global Retirement Partners LLC now owns 335 shares of the specialty chemicals company’s stock worth $46,000 after purchasing an additional 284 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of Quaker Houghton during the second quarter worth $48,000. 77.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on KWR shares. Truist Financial reiterated a “buy” rating and set a $190.00 target price (up from $172.00) on shares of Quaker Houghton in a research report on Monday, August 3rd. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Quaker Houghton from $165.00 to $185.00 and gave the company a “buy” rating in a research note on Tuesday. Royal Bank Of Canada increased their price objective 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. 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. Finally, Wall Street Zen upgraded shares of Quaker Houghton from a “hold” rating to a “buy” rating in a report on Saturday, August 1st. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $187.00.

Quaker Houghton Price Performance

KWR opened at $166.27 on Friday. The company has a quick ratio of 1.70, a current ratio of 2.46 and a debt-to-equity ratio of 0.62. Quaker Houghton has a 52-week low of $112.18 and a 52-week high of $183.01. The company has a 50 day moving average of $159.02 and a two-hundred day moving average of $147.09. The company has a market cap of $2.86 billion, a P/E ratio of 29.64, a P/E/G ratio of 1.12 and a beta of 1.40.

Quaker Houghton (NYSE:KWR) last issued its earnings results 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 business had revenue of $532.55 million for the quarter, compared to the consensus estimate of $504.63 million. Quaker Houghton had a net margin of 4.94% and a return on equity of 9.55%. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.71 EPS. On average, analysts expect that Quaker Houghton will post 7.85 earnings per share for the current year.

Quaker Houghton Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Friday, October 16th will be issued a $0.53 dividend. The ex-dividend date is Friday, October 16th. This represents a $2.12 annualized dividend and a yield of 1.3%. This is an increase from Quaker Houghton’s previous quarterly dividend of $0.51. Quaker Houghton’s payout ratio is currently 36.19%.

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

Insider Buying and Selling

In other Quaker Houghton news, Director William H. Osborne sold 600 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $168.31, for a total value of $100,986.00. Following the transaction, the director directly owned 616 shares of the company’s stock, valued at $103,678.96. This trade represents a 49.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.00% of the stock is owned by company insiders.

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.