Oppenheimer Asset Management Inc. Cuts Position in Quaker Chemical Co. (NYSE:KWR)

Oppenheimer Asset Management Inc. lessened its stake in Quaker Chemical Co. (NYSE:KWR) by 1.3% in the third quarter, HoldingsChannel.com reports. The firm owned 5,952 shares of the specialty chemicals company’s stock after selling 80 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Quaker Chemical were worth $1,003,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Fifth Third Bancorp increased its holdings in Quaker Chemical by 36.8% during the 2nd quarter. Fifth Third Bancorp now owns 286 shares of the specialty chemicals company’s stock valued at $49,000 after acquiring an additional 77 shares in the last quarter. GAMMA Investing LLC increased its holdings in Quaker Chemical by 105.3% during the 3rd quarter. GAMMA Investing LLC now owns 156 shares of the specialty chemicals company’s stock valued at $26,000 after acquiring an additional 80 shares in the last quarter. Louisiana State Employees Retirement System increased its holdings in Quaker Chemical by 1.4% during the 2nd quarter. Louisiana State Employees Retirement System now owns 7,000 shares of the specialty chemicals company’s stock valued at $1,188,000 after acquiring an additional 100 shares in the last quarter. Mackenzie Financial Corp increased its holdings in Quaker Chemical by 6.6% during the 2nd quarter. Mackenzie Financial Corp now owns 1,778 shares of the specialty chemicals company’s stock valued at $302,000 after acquiring an additional 110 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its holdings in Quaker Chemical by 1.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 13,001 shares of the specialty chemicals company’s stock valued at $2,191,000 after acquiring an additional 123 shares in the last quarter. 77.46% of the stock is currently owned by hedge funds and other institutional investors.

Quaker Chemical Price Performance

Quaker Chemical stock opened at $167.23 on Tuesday. The firm’s 50-day moving average is $163.61 and its two-hundred day moving average is $170.46. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.54 and a quick ratio of 1.88. Quaker Chemical Co. has a 12-month low of $151.31 and a 12-month high of $221.94. The stock has a market capitalization of $2.98 billion, a P/E ratio of 24.52, a P/E/G ratio of 2.02 and a beta of 1.38.

Quaker Chemical (NYSE:KWR) last released its earnings results on Thursday, October 31st. The specialty chemicals company reported $1.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.08 by ($0.19). Quaker Chemical had a return on equity of 10.10% and a net margin of 6.58%. The company had revenue of $462.27 million during the quarter, compared to analyst estimates of $469.17 million. During the same period in the prior year, the business posted $2.05 earnings per share. Quaker Chemical’s revenue was down 5.8% on a year-over-year basis. Equities analysts predict that Quaker Chemical Co. will post 7.78 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on KWR shares. StockNews.com downgraded shares of Quaker Chemical from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Quaker Chemical from $190.00 to $182.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Piper Sandler raised their price target on shares of Quaker Chemical from $190.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Finally, Royal Bank of Canada decreased their price target on shares of Quaker Chemical from $195.00 to $180.00 and set an “outperform” rating on the stock in a research note on Monday, November 4th.

Quaker Chemical Company Profile

Quaker Chemical Corporation, together with its subsidiaries, develops, produces, and markets various formulated specialty chemical products for a range of heavy industrial and manufacturing applications in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It offers metal removal fluids, cleaning fluids, corrosion inhibitors, metal drawing and forming fluids, die-cast mold releases, heat treatment and quenchants, metal forging fluids, hydraulic fluids, specialty greases, offshore sub-sea energy control fluids, rolling lubricants, rod and wire drawing fluids, and surface treatment chemicals.