Chartwell Investment Partners LLC lowered its stake in Quaker Chemical Corp (NYSE:KWR) by 93.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,506 shares of the specialty chemicals company’s stock after selling 20,461 shares during the period. Chartwell Investment Partners LLC’s holdings in Quaker Chemical were worth $238,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Krane Funds Advisors LLC acquired a new position in shares of Quaker Chemical in the second quarter valued at approximately $59,000. Ladenburg Thalmann Financial Services Inc. increased its holdings in shares of Quaker Chemical by 523.0% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 380 shares of the specialty chemicals company’s stock valued at $77,000 after purchasing an additional 319 shares during the period. Pearl River Capital LLC acquired a new position in shares of Quaker Chemical in the second quarter valued at approximately $128,000. Ellington Management Group LLC acquired a new position in shares of Quaker Chemical in the second quarter valued at approximately $223,000. Finally, Virginia Retirement Systems ET AL acquired a new position in shares of Quaker Chemical in the second quarter valued at approximately $243,000. 74.77% of the stock is currently owned by institutional investors and hedge funds.
Shares of KWR stock opened at $157.22 on Friday. The business’s fifty day moving average price is $157.57 and its 200 day moving average price is $180.69. Quaker Chemical Corp has a 1-year low of $145.00 and a 1-year high of $224.30. The firm has a market capitalization of $2.76 billion, a PE ratio of 26.03, a P/E/G ratio of 1.99 and a beta of 1.53. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.69 and a quick ratio of 2.07.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Thursday, October 17th were issued a dividend of $0.385 per share. This represents a $1.54 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date was Wednesday, October 16th. Quaker Chemical’s dividend payout ratio is presently 25.50%.
KWR has been the topic of a number of recent research reports. Janney Montgomery Scott reissued a “buy” rating and issued a $204.00 target price on shares of Quaker Chemical in a report on Wednesday, October 2nd. Jefferies Financial Group set a $153.00 target price on Quaker Chemical and gave the company a “hold” rating in a report on Monday, October 21st. Sidoti dropped their target price on Quaker Chemical from $176.00 to $156.00 and set a “neutral” rating on the stock in a report on Monday, October 21st. Zacks Investment Research lowered Quaker Chemical from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 24th. Finally, ValuEngine lowered Quaker Chemical from a “buy” rating to a “hold” rating in a report on Friday, August 16th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Quaker Chemical has an average rating of “Hold” and an average price target of $172.00.
In related news, CEO Michael F. Barry sold 3,834 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $159.02, for a total transaction of $609,682.68. Following the transaction, the chief executive officer now owns 156,301 shares of the company’s stock, valued at $24,854,985.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.90% of the company’s stock.
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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