Freestone Grove Partners LP Invests $911,000 in Quaker Houghton $KWR

Freestone Grove Partners LP bought a new stake in shares of Quaker Houghton (NYSE:KWR) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 5,734 shares of the specialty chemicals company’s stock, valued at approximately $911,000.

Several other hedge funds and other institutional investors also recently modified their holdings of KWR. EverSource Wealth Advisors LLC lifted its holdings in Quaker Houghton by 284.8% in the second quarter. EverSource Wealth Advisors LLC now owns 304 shares of the specialty chemicals company’s stock worth $34,000 after buying an additional 225 shares during the period. Farther Finance Advisors LLC grew its holdings in shares of Quaker Houghton by 165.0% during the 4th quarter. Farther Finance Advisors LLC now owns 273 shares of the specialty chemicals company’s stock worth $37,000 after acquiring an additional 170 shares during the period. Allworth Financial LP bought a new position in shares of Quaker Houghton in the 2nd quarter worth approximately $39,000. Global Retirement Partners LLC raised its position in shares of Quaker Houghton by 556.9% in the 4th quarter. Global Retirement Partners LLC now owns 335 shares of the specialty chemicals company’s stock worth $46,000 after acquiring an additional 284 shares in the last quarter. Finally, Kestra Advisory Services LLC purchased a new position in shares of Quaker Houghton in the 4th quarter valued at approximately $52,000. Hedge funds and other institutional investors own 77.46% of the company’s stock.

Insider Buying and Selling

In related news, Director William H. Osborne sold 600 shares of the stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $168.31, for a total transaction of $100,986.00. Following the sale, the director directly owned 616 shares of the company’s stock, valued at approximately $103,678.96. This represents a 49.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.00% of the company’s stock.

Quaker Houghton Stock Up 1.2%

KWR stock opened at $166.27 on Friday. The business has a 50 day moving average of $159.02 and a 200 day moving average of $147.09. The firm has a market cap of $2.86 billion, a PE ratio of 29.64, a price-to-earnings-growth ratio of 1.12 and a beta of 1.40. Quaker Houghton has a twelve month low of $112.18 and a twelve month high of $183.01. 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 (NYSE:KWR) last released its earnings results on Thursday, July 30th. The specialty chemicals company reported $2.19 EPS for the quarter, topping the consensus estimate of $1.66 by $0.53. Quaker Houghton had a return on equity of 9.55% and a net margin of 4.94%.The business had revenue of $532.55 million for the quarter, compared to the consensus estimate of $504.63 million. During the same period in the previous year, the company posted $1.71 earnings per share. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. On average, research analysts forecast that Quaker Houghton will post 7.85 EPS for the current fiscal year.

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

Quaker Houghton Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Friday, October 16th will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Friday, October 16th. This is a positive change from Quaker Houghton’s previous quarterly dividend of $0.51. Quaker Houghton’s dividend payout ratio (DPR) is presently 36.19%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on KWR shares. Zacks Research upgraded Quaker Houghton from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 6th. Truist Financial reissued a “buy” rating and set a $190.00 price objective (up from $172.00) on shares of Quaker Houghton in a research report on Monday, August 3rd. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Quaker Houghton from $165.00 to $185.00 and gave the company a “buy” rating in a report on Tuesday. Royal Bank Of Canada upped their target price on shares of Quaker Houghton from $177.00 to $198.00 and gave the stock an “outperform” 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 research note on Saturday, August 1st. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, Quaker Houghton has a consensus rating of “Buy” and a consensus price target of $187.00.

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.