WealthTrust Axiom LLC purchased a new stake in Quaker Chemical Corp (NYSE:KWR) in the third quarter, HoldingsChannel.com reports. The institutional investor purchased 1,000 shares of the specialty chemicals company’s stock, valued at approximately $202,000.
Several other large investors also recently added to or reduced their stakes in the stock. UBS Group AG raised its stake in shares of Quaker Chemical by 31.7% during the 1st quarter. UBS Group AG now owns 11,773 shares of the specialty chemicals company’s stock worth $1,744,000 after purchasing an additional 2,832 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Quaker Chemical by 2.3% in the 1st quarter. Legal & General Group Plc now owns 27,331 shares of the specialty chemicals company’s stock valued at $4,023,000 after acquiring an additional 605 shares in the last quarter. Royal Bank of Canada raised its stake in shares of Quaker Chemical by 8.9% in the 1st quarter. Royal Bank of Canada now owns 12,553 shares of the specialty chemicals company’s stock valued at $1,859,000 after acquiring an additional 1,030 shares in the last quarter. Xact Kapitalforvaltning AB raised its stake in shares of Quaker Chemical by 74.4% in the 1st quarter. Xact Kapitalforvaltning AB now owns 2,579 shares of the specialty chemicals company’s stock valued at $382,000 after acquiring an additional 1,100 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of Quaker Chemical by 1.5% in the 1st quarter. Principal Financial Group Inc. now owns 108,396 shares of the specialty chemicals company’s stock valued at $16,057,000 after acquiring an additional 1,572 shares in the last quarter. Institutional investors and hedge funds own 93.68% of the company’s stock.
Shares of KWR stock opened at $203.91 on Monday. The company has a current ratio of 2.72, a quick ratio of 2.11 and a debt-to-equity ratio of 0.11. Quaker Chemical Corp has a twelve month low of $137.95 and a twelve month high of $211.14. The company has a market capitalization of $2.72 billion, a P/E ratio of 40.70, a P/E/G ratio of 3.09 and a beta of 1.37.
Quaker Chemical (NYSE:KWR) last issued its quarterly earnings results on Thursday, November 1st. The specialty chemicals company reported $1.60 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.53 by $0.07. The company had revenue of $222.02 million for the quarter, compared to the consensus estimate of $221.31 million. Quaker Chemical had a return on equity of 18.36% and a net margin of 4.83%. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.32 EPS. On average, research analysts forecast that Quaker Chemical Corp will post 5.99 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 31st. Shareholders of record on Wednesday, October 17th were given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 0.73%. The ex-dividend date was Tuesday, October 16th. Quaker Chemical’s dividend payout ratio is currently 29.54%.
A number of research analysts recently weighed in on KWR shares. Zacks Investment Research raised Quaker Chemical from a “hold” rating to a “buy” rating and set a $216.00 price objective on the stock in a research note on Friday, October 12th. B. Riley set a $170.00 price objective on Quaker Chemical and gave the company a “hold” rating in a research note on Tuesday, July 31st. Sidoti raised their price objective on Quaker Chemical from $151.00 to $176.00 and gave the company a “neutral” rating in a research note on Wednesday, October 10th. Finally, Janney Montgomery Scott started coverage on Quaker Chemical in a research note on Friday, July 13th. They issued a “neutral” rating and a $170.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Quaker Chemical currently has an average rating of “Hold” and a consensus target price of $179.40.
In other Quaker Chemical news, VP D Jeffry Benoliel sold 2,000 shares of Quaker Chemical stock in a transaction that occurred on Wednesday, August 8th. The stock was sold at an average price of $167.93, for a total value of $335,860.00. Following the transaction, the vice president now directly owns 11,531 shares of the company’s stock, valued at approximately $1,936,400.83. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Donald R. Caldwell sold 599 shares of Quaker Chemical stock in a transaction that occurred on Thursday, August 9th. The stock was sold at an average price of $170.00, for a total value of $101,830.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,740 shares of company stock worth $1,183,579. Company insiders own 3.20% of the company’s stock.
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.
See Also: Dividend
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