Quaker Chemical Corporation (KWR) Upgraded to Hold by Zacks Investment Research
Zacks Investment Research upgraded shares of Quaker Chemical Corporation (NYSE:KWR) from a sell rating to a hold rating in a report released on Saturday.
According to Zacks, “Quaker Chemical Corp. develops, produces, and markets a broad range of formulated chemical specialty products for various heavy industrial and manufacturing applications and, in addition, offers and markets chemical management services. Quaker’s principal products and services include: rolling lubricants, corrosion preventives, metal finishing compounds, machining and grinding compounds, forming compounds, hydraulic fluids, technology for the removal of hydrogen sulfide, chemical milling maskants, construction products and programs to provide chemical management services. “
Other equities analysts have also issued research reports about the company. Jefferies Group LLC reiterated a hold rating and set a $153.00 target price on shares of Quaker Chemical Corporation in a research note on Sunday, September 3rd. FBR & Co reiterated a marketperform rating on shares of Quaker Chemical Corporation in a research note on Tuesday, July 11th. Finally, BidaskClub lowered Quaker Chemical Corporation from a hold rating to a sell rating in a research note on Thursday, August 3rd.
Shares of Quaker Chemical Corporation (NYSE KWR) opened at 147.45 on Friday. The firm has a market cap of $1.96 billion, a price-to-earnings ratio of 37.48 and a beta of 1.22. Quaker Chemical Corporation has a one year low of $99.22 and a one year high of $154.38. The stock’s 50 day moving average price is $137.81 and its 200 day moving average price is $139.82.
Quaker Chemical Corporation (NYSE:KWR) last announced its earnings results on Thursday, July 27th. The specialty chemicals company reported $1.24 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.24. The company had revenue of $201.18 million for the quarter, compared to analyst estimates of $197.23 million. Quaker Chemical Corporation had a return on equity of 15.52% and a net margin of 6.73%. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.11 earnings per share. On average, equities analysts anticipate that Quaker Chemical Corporation will post $4.93 earnings per share for the current fiscal year.
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The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Tuesday, October 17th will be paid a dividend of $0.355 per share. The ex-dividend date is Monday, October 16th. This represents a $1.42 dividend on an annualized basis and a dividend yield of 0.96%. Quaker Chemical Corporation’s dividend payout ratio (DPR) is currently 36.13%.
In other news, Director Donald R. Caldwell sold 1,800 shares of the stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $139.55, for a total transaction of $251,190.00. Following the transaction, the director now owns 9,281 shares in the company, valued at $1,295,163.55. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Jan Nieman sold 1,000 shares of the stock in a transaction that occurred on Wednesday, September 20th. The stock was sold at an average price of $145.00, for a total value of $145,000.00. Following the transaction, the vice president now owns 14,636 shares in the company, valued at approximately $2,122,220. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,800 shares of company stock worth $536,190. 3.60% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Piedmont Investment Advisors LLC bought a new position in Quaker Chemical Corporation during the 2nd quarter worth $417,000. The Manufacturers Life Insurance Company increased its stake in Quaker Chemical Corporation by 0.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,067 shares of the specialty chemicals company’s stock worth $1,463,000 after acquiring an additional 26 shares during the period. Cubist Systematic Strategies LLC bought a new position in Quaker Chemical Corporation during the 2nd quarter worth $246,000. State Street Corp increased its stake in Quaker Chemical Corporation by 4.7% during the 2nd quarter. State Street Corp now owns 327,387 shares of the specialty chemicals company’s stock worth $47,550,000 after acquiring an additional 14,687 shares during the period. Finally, Gotham Asset Management LLC bought a new position in Quaker Chemical Corporation during the 2nd quarter worth $1,611,000. Institutional investors own 82.75% of the company’s stock.
About Quaker Chemical Corporation
Quaker Chemical Corporation is a provider of process fluids, chemical specialties, and technical expertise to a range of industries, including steel, aluminum, mining, aerospace, tube and pipe, cans and others. The Company’s segments include North America, Europe, Middle East and Africa (EMEA), Asia/Pacific and South America.
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