Quaker Chemical (NYSE:KWR) Upgraded at Zacks Investment Research
According to Zacks, “Quaker Chemical Corporation develops, produces and markets a range of formulated chemical specialty products for various heavy industrial and manufacturing applications and, in addition, offers and markets chemical management services (CMS). The Company operates in three segments: Metalworking process chemicals, Coatings and Other chemical products. The Metalworking process chemicals segment includes industrial process fluids for various heavy industrial and manufacturing applications. Coatings segment includes temporary and permanent coatings for metal and concrete products and chemical milling maskants. “
Separately, Janney Montgomery Scott upgraded shares of Quaker Chemical from a neutral rating to a buy rating in a report on Friday, June 7th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Quaker Chemical currently has an average rating of Hold and an average target price of $187.25.
Quaker Chemical (NYSE:KWR) last posted its quarterly earnings results on Thursday, May 2nd. The specialty chemicals company reported $1.41 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.40 by $0.01. Quaker Chemical had a net margin of 6.99% and a return on equity of 18.73%. The business had revenue of $211.20 million for the quarter, compared to the consensus estimate of $213.99 million. During the same period in the prior year, the business posted $1.41 earnings per share. Quaker Chemical’s revenue for the quarter was down .4% compared to the same quarter last year. On average, sell-side analysts predict that Quaker Chemical will post 6.8 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Wednesday, July 17th will be issued a $0.385 dividend. The ex-dividend date of this dividend is Tuesday, July 16th. This is a boost from Quaker Chemical’s previous quarterly dividend of $0.37. This represents a $1.54 dividend on an annualized basis and a yield of 0.78%. Quaker Chemical’s dividend payout ratio is currently 24.50%.
In related news, Director Donald R. Caldwell sold 250 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $201.65, for a total value of $50,412.50. Following the completion of the sale, the director now directly owns 5,071 shares in the company, valued at $1,022,567.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.90% of the company’s stock.
Large investors have recently modified their holdings of the stock. Bessemer Group Inc. boosted its holdings in Quaker Chemical by 44.6% in the fourth quarter. Bessemer Group Inc. now owns 227 shares of the specialty chemicals company’s stock worth $40,000 after purchasing an additional 70 shares in the last quarter. Toronto Dominion Bank bought a new stake in Quaker Chemical during the first quarter valued at about $40,000. Manchester Capital Management LLC bought a new stake in Quaker Chemical during the first quarter valued at about $100,000. Belpointe Asset Management LLC bought a new stake in Quaker Chemical during the first quarter valued at about $102,000. Finally, LS Investment Advisors LLC boosted its holdings in Quaker Chemical by 55.8% during the fourth quarter. LS Investment Advisors LLC now owns 609 shares of the specialty chemicals company’s stock valued at $108,000 after acquiring an additional 218 shares during the period. Hedge funds and other institutional investors own 98.39% 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. The company's 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.
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