Quaker Chemical (KWR) Raised to Hold at Zacks Investment Research

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Zacks Investment Research upgraded shares of Quaker Chemical (NYSE:KWR) from a sell rating to a hold rating in a research report report published on Wednesday, 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. “

A number of other brokerages have also recently issued reports on KWR. Seaport Global Securities reissued a neutral rating on shares of Quaker Chemical in a report on Tuesday, February 5th. Janney Montgomery Scott reissued a neutral rating and issued a $198.00 target price on shares of Quaker Chemical in a report on Tuesday, January 29th. Five research analysts have rated the stock with a hold rating, Quaker Chemical has an average rating of Hold and a consensus target price of $187.25.

Shares of KWR opened at $197.45 on Wednesday. Quaker Chemical has a 1 year low of $151.43 and a 1 year high of $224.30. The company has a quick ratio of 2.02, a current ratio of 2.65 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $2.63 billion, a PE ratio of 32.69, a P/E/G ratio of 2.69 and a beta of 1.41.

Quaker Chemical (NYSE:KWR) last issued its earnings results on Thursday, May 2nd. The specialty chemicals company reported $1.41 earnings per share (EPS) for the quarter, topping the Zacks’ 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 analysts’ expectations of $213.99 million. During the same period in the prior year, the firm posted $1.41 EPS. Quaker Chemical’s quarterly revenue was down .4% compared to the same quarter last year. As a group, equities research analysts expect that Quaker Chemical will post 6.8 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders 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 dividend yield of 0.78%. Quaker Chemical’s dividend payout ratio is presently 24.50%.

Several institutional investors and hedge funds have recently modified their holdings of KWR. Advisors Asset Management Inc. grew its position in Quaker Chemical by 38.0% during the 1st quarter. Advisors Asset Management Inc. now owns 2,925 shares of the specialty chemicals company’s stock worth $586,000 after acquiring an additional 806 shares during the last quarter. SEI Investments Co bought a new stake in Quaker Chemical during the 1st quarter worth approximately $4,190,000. Goldman Sachs Group Inc. grew its position in Quaker Chemical by 1.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 258,855 shares of the specialty chemicals company’s stock worth $51,856,000 after acquiring an additional 3,237 shares during the last quarter. Hsbc Holdings PLC grew its position in Quaker Chemical by 244.6% during the 1st quarter. Hsbc Holdings PLC now owns 9,405 shares of the specialty chemicals company’s stock worth $1,885,000 after acquiring an additional 6,676 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in Quaker Chemical by 131.5% during the 1st quarter. Wellington Management Group LLP now owns 6,229 shares of the specialty chemicals company’s stock worth $1,247,000 after acquiring an additional 3,538 shares during the last quarter. 97.83% of the stock is owned by institutional investors and hedge funds.

About Quaker Chemical

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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