Eagle Asset Management Inc. decreased its position in Quaker Chemical Co. (NYSE:KWR) by 3.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,054,211 shares of the specialty chemicals company’s stock after selling 33,612 shares during the quarter. Quaker Chemical comprises approximately 0.8% of Eagle Asset Management Inc.’s holdings, making the stock its 13th largest position. Eagle Asset Management Inc. owned approximately 7.91% of Quaker Chemical worth $156,160,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in KWR. Carillon Tower Advisers Inc. acquired a new stake in shares of Quaker Chemical in the fourth quarter valued at $103,056,000. Ranger Investment Management L.P. lifted its holdings in shares of Quaker Chemical by 141.2% during the fourth quarter. Ranger Investment Management L.P. now owns 214,455 shares of the specialty chemicals company’s stock valued at $32,338,000 after purchasing an additional 125,543 shares during the last quarter. Cortina Asset Management LLC purchased a new stake in shares of Quaker Chemical during the fourth quarter valued at $8,602,000. BlackRock Inc. lifted its holdings in shares of Quaker Chemical by 3.2% during the fourth quarter. BlackRock Inc. now owns 1,646,283 shares of the specialty chemicals company’s stock valued at $248,242,000 after purchasing an additional 50,506 shares during the last quarter. Finally, GW&K Investment Management LLC lifted its holdings in shares of Quaker Chemical by 31.6% during the first quarter. GW&K Investment Management LLC now owns 154,244 shares of the specialty chemicals company’s stock valued at $22,848,000 after purchasing an additional 36,995 shares during the last quarter. Institutional investors and hedge funds own 92.17% of the company’s stock.
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Several equities research analysts have recently commented on the company. Zacks Investment Research downgraded Quaker Chemical from a “strong-buy” rating to a “hold” rating in a report on Thursday. ValuEngine raised Quaker Chemical from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. Seaport Global Securities reaffirmed a “hold” rating and set a $165.00 target price on shares of Quaker Chemical in a report on Friday, March 16th. B. Riley set a $165.00 target price on Quaker Chemical and gave the company a “hold” rating in a report on Thursday, March 1st. Finally, TheStreet raised Quaker Chemical from a “c+” rating to a “b” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $164.00.
In related news, VP Joseph F. Matrange sold 397 shares of the company’s stock in a transaction on Friday, March 9th. The stock was sold at an average price of $155.34, for a total transaction of $61,669.98. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael F. Barry sold 1,250 shares of the company’s stock in a transaction on Thursday, March 1st. The shares were sold at an average price of $160.13, for a total value of $200,162.50. The disclosure for this sale can be found here. Insiders have sold 9,186 shares of company stock worth $1,399,442 over the last three months. 3.20% of the stock is owned by insiders.
Shares of Quaker Chemical opened at $154.16 on Friday, according to Marketbeat Ratings. Quaker Chemical Co. has a 12 month low of $151.16 and a 12 month high of $152.06. The firm has a market cap of $2.00 billion, a PE ratio of 30.77, a P/E/G ratio of 2.42 and a beta of 1.30. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.73 and a quick ratio of 2.12.
Quaker Chemical (NYSE:KWR) last posted its quarterly earnings results on Monday, April 30th. The specialty chemicals company reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.13. The firm had revenue of $212.10 million for the quarter, compared to analyst estimates of $206.60 million. Quaker Chemical had a return on equity of 16.10% and a net margin of 3.11%. Quaker Chemical’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.18 earnings per share. research analysts anticipate that Quaker Chemical Co. will post 5.65 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 31st. Investors of record on Tuesday, July 17th will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 0.96%. This is a positive change from Quaker Chemical’s previous quarterly dividend of $0.36. The ex-dividend date is Monday, July 16th. Quaker Chemical’s payout ratio is presently 28.34%.
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. Its 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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