Palisade Capital Management LP Invests $8.54 Million in Quaker Houghton $KWR

Palisade Capital Management LP bought a new position in shares of Quaker Houghton (NYSE:KWR) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 53,733 shares of the specialty chemicals company’s stock, valued at approximately $8,537,000.

Other institutional investors have also bought and sold shares of the company. Legal & General Group Plc bought a new stake in Quaker Houghton in the second quarter valued at $4,904,000. The Manufacturers Life Insurance Company bought a new position in shares of Quaker Houghton during the second quarter valued at $1,087,000. Cullen Capital Management LLC bought a new position in shares of Quaker Houghton during the second quarter valued at $628,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Quaker Houghton in the 2nd quarter valued at $444,000. Finally, Welch Capital Partners LLC NY acquired a new stake in shares of Quaker Houghton in the 2nd quarter valued at $206,000. Institutional investors and hedge funds own 77.46% of the company’s stock.

Quaker Houghton Price Performance

Shares of KWR stock opened at $165.20 on Wednesday. The stock’s fifty day moving average is $158.10 and its 200-day moving average is $147.04. 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 $2.84 billion, a PE ratio of 29.45, a PEG ratio of 1.15 and a beta of 1.40. Quaker Houghton has a 52 week low of $112.18 and a 52 week high of $183.01.

Quaker Houghton (NYSE:KWR) last released its quarterly 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 business had revenue of $532.55 million during the quarter, compared to analysts’ expectations of $504.63 million. Quaker Houghton had a return on equity of 9.55% and a net margin of 4.94%.The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.71 earnings per share. Equities research analysts expect that Quaker Houghton will post 7.72 EPS for the current fiscal year.

Quaker Houghton declared that its board has authorized a stock repurchase program on Wednesday, May 13th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the specialty chemicals company to buy up to 10.1% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Quaker Houghton Increases Dividend

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

Insider Buying and Selling at Quaker Houghton

In other Quaker Houghton 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 value of $100,986.00. Following the completion of the transaction, the director directly owned 616 shares of the company’s stock, valued at approximately $103,678.96. The trade was a 49.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. 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. Royal Bank Of Canada boosted their price target on shares of Quaker Houghton from $177.00 to $198.00 and gave the company an “outperform” rating in a research 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 note on Monday, August 3rd. Zacks Research raised shares of Quaker Houghton from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 6th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Quaker Houghton from $165.00 to $185.00 and gave the company a “buy” rating in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, Quaker Houghton presently has a consensus rating of “Buy” and an average target price of $187.00.

About Quaker Houghton

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.