Quaker Chemical (NYSE:KWR) Lifted to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Quaker Chemical (NYSE:KWR) from a sell rating to a hold rating in a report issued on Saturday, Zacks.com reports.

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 Quaker Chemical from a neutral rating to a buy rating in a report on Friday, June 7th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $187.25.

Shares of Quaker Chemical stock opened at $199.50 on Friday. The stock’s fifty day moving average is $196.39. Quaker Chemical has a 12-month low of $151.43 and a 12-month high of $224.30. The company has a market capitalization of $2.69 billion, a P/E ratio of 33.03, a P/E/G ratio of 2.70 and a beta of 1.54. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.65 and a quick ratio of 2.02.

Quaker Chemical (NYSE:KWR) last announced its quarterly earnings results on Thursday, May 2nd. The specialty chemicals company reported $1.41 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.40 by $0.01. Quaker Chemical had a return on equity of 18.73% and a net margin of 6.99%. The business had revenue of $211.20 million during the quarter, compared to the consensus estimate of $213.99 million. During the same quarter in the prior year, the company posted $1.41 earnings per share. Quaker Chemical’s revenue was down .4% compared to the same quarter last year. On average, sell-side analysts anticipate that Quaker Chemical will post 6.8 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Wednesday, July 17th will be issued a dividend of $0.385 per share. The ex-dividend date is Tuesday, July 16th. This represents a $1.54 annualized dividend and a yield of 0.77%. This is an increase from Quaker Chemical’s previous quarterly dividend of $0.37. Quaker Chemical’s dividend payout ratio is 24.50%.

In other Quaker Chemical news, Director Donald R. Caldwell sold 250 shares of the business’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $201.65, for a total value of $50,412.50. Following the transaction, the director now owns 5,071 shares of the company’s stock, valued at $1,022,567.15. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.90% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Toronto Dominion Bank purchased a new stake in Quaker Chemical during the 1st quarter worth about $40,000. Bessemer Group Inc. increased its stake in Quaker Chemical by 44.6% in the 4th quarter. Bessemer Group Inc. now owns 227 shares of the specialty chemicals company’s stock worth $40,000 after acquiring an additional 70 shares during the last quarter. Manchester Capital Management LLC bought a new position in Quaker Chemical in the 1st quarter worth about $100,000. Belpointe Asset Management LLC bought a new position in Quaker Chemical in the 1st quarter worth about $102,000. Finally, Hanseatic Management Services Inc. increased its stake in Quaker Chemical by 22.5% in the 1st quarter. Hanseatic Management Services Inc. now owns 740 shares of the specialty chemicals company’s stock worth $148,000 after acquiring an additional 136 shares during the last quarter. 98.29% of the stock is currently owned by hedge funds and other institutional investors.

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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