Quaker Chemical (KWR) Upgraded to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Quaker Chemical (NYSE:KWR) from a hold rating to a buy rating in a report published on Thursday. They currently have $172.00 price objective on the specialty chemicals company’s stock.
According to Zacks, “Quaker Chemical Corporation develops, produces and markets a range of formulated chemical specialty products for various heavy industrial and manufacturing applications and, in addition, offers and markets chemical management services (CMS). The Company operates in three segments: Metalworking process chemicals, Coatings and Other chemical products. The Metalworking process chemicals segment includes industrial process fluids for various heavy industrial and manufacturing applications. Coatings segment includes temporary and permanent coatings for metal and concrete products and chemical milling maskants. “
Several other equities research analysts also recently commented on the stock. ValuEngine downgraded shares of Quaker Chemical from a buy rating to a hold rating in a research note on Friday, December 1st. TheStreet downgraded shares of Quaker Chemical from a b rating to a c+ rating in a research note on Monday, March 5th. B. Riley set a $165.00 target price on shares of Quaker Chemical and gave the company a hold rating in a research note on Thursday, March 1st. Finally, Seaport Global Securities reaffirmed a hold rating and issued a $165.00 target price on shares of Quaker Chemical in a research note on Friday, March 16th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $164.00.
Quaker Chemical (NYSE:KWR) last issued its earnings results on Wednesday, February 28th. The specialty chemicals company reported $1.27 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.26 by $0.01. Quaker Chemical had a net margin of 2.47% and a return on equity of 15.48%. The firm had revenue of $211.10 million during the quarter, compared to the consensus estimate of $208.07 million. During the same quarter in the prior year, the firm earned $1.26 earnings per share. The business’s quarterly revenue was up 10.4% on a year-over-year basis. equities analysts forecast that Quaker Chemical will post 5.63 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 30th. Stockholders of record on Monday, April 16th will be given a dividend of $0.355 per share. This represents a $1.42 annualized dividend and a dividend yield of 0.95%. The ex-dividend date of this dividend is Friday, April 13th. Quaker Chemical’s dividend payout ratio is 94.04%.
In other news, Director Adrian Steeples sold 1,957 shares of the stock in a transaction on Tuesday, March 6th. The shares were sold at an average price of $150.34, for a total transaction of $294,215.38. Following the completion of the sale, the director now owns 5,101 shares of the company’s stock, valued at $766,884.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Joseph F. Matrange sold 397 shares of the stock in a transaction on Friday, March 9th. The stock was sold at an average price of $155.34, for a total transaction of $61,669.98. The disclosure for this sale can be found here. Insiders have sold 9,186 shares of company stock valued at $1,399,442 in the last three months. 3.60% of the stock is owned by insiders.
Hedge funds have recently modified their holdings of the company. Xact Kapitalforvaltning AB bought a new stake in shares of Quaker Chemical during the fourth quarter worth $223,000. Virginia Retirement Systems ET AL bought a new stake in shares of Quaker Chemical during the third quarter worth $252,000. Citadel Advisors LLC bought a new stake in shares of Quaker Chemical during the third quarter worth $290,000. Millennium Management LLC bought a new stake in shares of Quaker Chemical during the fourth quarter worth $320,000. Finally, SG Americas Securities LLC bought a new stake in shares of Quaker Chemical during the third quarter worth $319,000. 92.12% of the stock is owned by institutional investors.
Quaker Chemical Company Profile
Quaker Chemical Corporation develops, produces, and markets various formulated chemical specialty products for a range of heavy industrial and manufacturing applications in North America, Europe, the Middle East, Africa, the Asia/Pacific, and South America. Its products include rolling lubricants used by manufacturers of steel in the hot and cold rolling of steel, and aluminum in the hot rolling of aluminum; machining and grinding compounds for use in cutting, shaping, and grinding metal parts; hydraulic fluids for steel, metalworking, and other customers to operate hydraulic equipment; corrosion preventives to protect metals during manufacture, storage, and shipment; and specialty greases used in automotive and aerospace production processes, steel manufacturing, and various other applications.
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