Quaker Houghton’s (KWR) Buy Rating Reiterated at Truist Financial

Truist Financial reissued their buy rating on shares of Quaker Houghton (NYSE:KWR) in a research report released on Monday,Benzinga reports. Truist Financial currently has a $190.00 price target on the specialty chemicals company’s stock, up from their previous price target of $172.00.

KWR has been the topic of several other reports. Weiss Ratings upgraded shares of Quaker Houghton from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, May 6th. Zacks Research upgraded shares of Quaker Houghton from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 21st. Wall Street Zen raised shares of Quaker Houghton from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. Seaport Research Partners upgraded shares of Quaker Houghton from a “neutral” rating to a “buy” rating and set a $175.00 price target on the stock in a report on Friday, April 17th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $177.00 price objective on shares of Quaker Houghton in a research note on Friday, July 17th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Quaker Houghton presently has a consensus rating of “Moderate Buy” and an average target price of $187.67.

Quaker Houghton Price Performance

Shares of KWR opened at $170.95 on Monday. Quaker Houghton has a 12-month low of $112.18 and a 12-month high of $183.01. The business has a 50-day simple moving average of $151.32 and a two-hundred day simple moving average of $145.97. The company has a quick ratio of 1.70, a current ratio of 2.46 and a debt-to-equity ratio of 0.62. The stock has a market cap of $2.94 billion, a PE ratio of 30.47, a PEG ratio of 1.25 and a beta of 1.40.

Quaker Houghton (NYSE:KWR) last announced its quarterly earnings results on Thursday, July 30th. The specialty chemicals company reported $2.19 EPS for the quarter, beating analysts’ consensus estimates of $1.66 by $0.53. Quaker Houghton had a return on equity of 9.55% and a net margin of 4.94%.The firm had revenue of $532.55 million for the quarter, compared to analyst estimates of $504.63 million. During the same period last year, the firm posted $1.71 earnings per share. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. Analysts anticipate that Quaker Houghton will post 7.59 earnings per share for the current fiscal year.

Quaker Houghton declared that its board has initiated a stock repurchase program on Wednesday, May 13th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the specialty chemicals company to reacquire up to 10.1% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.

Quaker Houghton Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Friday, October 16th will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Friday, October 16th. This represents a $2.12 dividend on an annualized basis and a yield of 1.2%. This is a boost from Quaker Houghton’s previous quarterly dividend of $0.51. Quaker Houghton’s payout ratio is currently 36.19%.

Insider Activity

In other news, EVP Jeewat Bijlani sold 731 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $145.77, for a total value of $106,557.87. Following the transaction, the executive vice president owned 6,748 shares in the company, valued at approximately $983,655.96. The trade was a 9.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Quaker Houghton

Several large investors have recently modified their holdings of KWR. Kohmann Bosshard Financial Services LLC acquired a new position in Quaker Houghton in the fourth quarter valued at $27,000. Farther Finance Advisors LLC grew its holdings in 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. EverSource Wealth Advisors LLC raised its position in shares of Quaker Houghton by 284.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 304 shares of the specialty chemicals company’s stock worth $34,000 after acquiring an additional 225 shares in the last quarter. Global Retirement Partners LLC lifted its stake 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 valued at $46,000 after purchasing an additional 284 shares during the period. Finally, First Horizon Corp boosted its position in shares of Quaker Houghton by 123.3% during the 4th quarter. First Horizon Corp now owns 355 shares of the specialty chemicals company’s stock valued at $49,000 after purchasing an additional 196 shares in the last quarter. 77.46% of the stock is currently owned by institutional investors and hedge funds.

Quaker Houghton Company 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.