Bastion Asset Management Inc. Invests $5.56 Million in Quaker Houghton $KWR

Bastion Asset Management Inc. acquired a new position in Quaker Houghton (NYSE:KWR) during the 1st quarter, HoldingsChannel.com reports. The firm acquired 44,266 shares of the specialty chemicals company’s stock, valued at approximately $5,560,000. Quaker Houghton accounts for about 1.7% of Bastion Asset Management Inc.’s investment portfolio, making the stock its 25th biggest holding.

Other institutional investors and hedge funds have also bought and sold shares of the company. Northwestern Mutual Wealth Management Co. lifted its position in Quaker Houghton by 67,340.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 16,860 shares of the specialty chemicals company’s stock valued at $2,315,000 after purchasing an additional 16,835 shares during the last quarter. Deprince Race & Zollo Inc. grew its holdings in shares of Quaker Houghton by 9.7% in the fourth quarter. Deprince Race & Zollo Inc. now owns 278,576 shares of the specialty chemicals company’s stock worth $38,251,000 after purchasing an additional 24,573 shares during the last quarter. GW&K Investment Management LLC increased its stake in shares of Quaker Houghton by 42.3% in the fourth quarter. GW&K Investment Management LLC now owns 406,329 shares of the specialty chemicals company’s stock worth $55,793,000 after buying an additional 120,772 shares during the period. Royce & Associates LP increased its stake in shares of Quaker Houghton by 19.2% in the fourth quarter. Royce & Associates LP now owns 755,740 shares of the specialty chemicals company’s stock worth $103,771,000 after buying an additional 121,854 shares during the period. Finally, Global Alpha Capital Management Ltd. bought a new stake in Quaker Houghton during the 4th quarter valued at $21,132,000. 77.46% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Jeewat Bijlani sold 731 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $145.77, for a total value of $106,557.87. Following the completion of the transaction, the executive vice president directly owned 6,748 shares of the company’s stock, valued at $983,655.96. This represents a 9.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.00% of the stock is owned by corporate insiders.

Quaker Houghton Stock Performance

NYSE:KWR opened at $154.76 on Friday. The stock has a market cap of $2.69 billion, a P/E ratio of 552.74, a price-to-earnings-growth ratio of 1.16 and a beta of 1.40. The firm’s fifty day simple moving average is $147.26 and its 200 day simple moving average is $145.05. Quaker Houghton has a twelve month low of $111.42 and a twelve month high of $183.01. The company has a quick ratio of 1.72, a current ratio of 2.45 and a debt-to-equity ratio of 0.61.

Quaker Houghton (NYSE:KWR) last issued its quarterly earnings data on Thursday, April 30th. The specialty chemicals company reported $1.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.03). Quaker Houghton had a net margin of 0.22% and a return on equity of 9.03%. The company had revenue of $480.48 million for the quarter, compared to analysts’ expectations of $463.70 million. During the same period in the previous year, the firm posted $1.58 earnings per share. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. As a group, research analysts predict that Quaker Houghton will post 7.16 EPS for the current year.

Quaker Houghton announced that its board has authorized a stock 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 repurchase up to 10.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Quaker Houghton Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 17th will be given a dividend of $0.508 per share. The ex-dividend date is Friday, July 17th. This represents a $2.03 annualized dividend and a dividend yield of 1.3%. Quaker Houghton’s payout ratio is currently 725.00%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Zacks Research raised shares of Quaker Houghton from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 21st. Seaport Research Partners upgraded shares of Quaker Houghton from a “neutral” rating to a “buy” rating and set a $175.00 price objective on the stock in a research report on Friday, April 17th. Weiss Ratings raised shares of Quaker Houghton from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, May 6th. Truist Financial initiated coverage on shares of Quaker Houghton in a report on Monday, June 8th. They set a “buy” rating and a $172.00 target price for the company. Finally, Wall Street Zen cut Quaker Houghton from a “buy” rating to a “hold” rating in a research note on Sunday, April 12th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $168.00.

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.