The Manufacturers Life Insurance Company Makes New $1.09 Million Investment in Quaker Houghton $KWR

The Manufacturers Life Insurance Company acquired a new position in shares of Quaker Houghton (NYSE:KWR) during the second quarter, HoldingsChannel reports. The firm acquired 6,840 shares of the specialty chemicals company’s stock, valued at approximately $1,087,000.

Several other large investors also recently made changes to their positions in the stock. Keybank National Association OH grew its stake in shares of Quaker Houghton by 3.5% in the first quarter. Keybank National Association OH now owns 2,084 shares of the specialty chemicals company’s stock valued at $259,000 after buying an additional 71 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in Quaker Houghton by 1.0% in the first quarter. PNC Financial Services Group Inc. now owns 8,600 shares of the specialty chemicals company’s stock valued at $1,068,000 after acquiring an additional 83 shares during the last quarter. Integrated Wealth Concepts LLC grew its position in shares of Quaker Houghton by 7.1% in the 1st quarter. Integrated Wealth Concepts LLC now owns 1,650 shares of the specialty chemicals company’s stock valued at $204,000 after acquiring an additional 109 shares during the period. LPL Financial LLC increased its stake in shares of Quaker Houghton by 1.4% during the 4th quarter. LPL Financial LLC now owns 8,105 shares of the specialty chemicals company’s stock worth $1,113,000 after purchasing an additional 114 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Quaker Houghton by 51.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 344 shares of the specialty chemicals company’s stock worth $43,000 after purchasing an additional 117 shares during the last quarter. Institutional investors and hedge funds own 77.46% of the company’s stock.

Quaker Houghton Stock Up 0.6%

Shares of KWR opened at $161.26 on Friday. The company has a current ratio of 2.46, a quick ratio of 1.70 and a debt-to-equity ratio of 0.62. Quaker Houghton has a 12 month low of $112.18 and a 12 month high of $183.01. The firm’s 50 day moving average is $159.94 and its 200-day moving average is $146.60. The stock has a market capitalization of $2.78 billion, a PE ratio of 28.75, a P/E/G ratio of 1.08 and a beta of 1.40.

Quaker Houghton (NYSE:KWR) last issued its quarterly earnings results on Thursday, July 30th. The specialty chemicals company reported $2.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.53. The business had revenue of $532.55 million during the quarter, compared to analysts’ expectations of $504.63 million. Quaker Houghton had a return on equity of 9.55% and a net margin of 4.94%.The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.71 earnings per share. Equities research analysts forecast that Quaker Houghton will post 7.85 EPS for the current year.

Quaker Houghton Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Friday, October 16th will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Friday, October 16th. This is a positive change from Quaker Houghton’s previous quarterly dividend of $0.51. Quaker Houghton’s dividend payout ratio is currently 36.19%.

Quaker Houghton declared that its board has initiated a share buyback plan on Wednesday, May 13th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the specialty chemicals company to reacquire up to 10.1% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

KWR has been the subject of several recent analyst reports. Wall Street Zen upgraded shares of Quaker Houghton from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. Deutsche Bank Aktiengesellschaft boosted their price target on Quaker Houghton from $165.00 to $185.00 and gave the stock a “buy” rating in a research report on Tuesday, August 25th. Royal Bank Of Canada upped their price objective on Quaker Houghton from $177.00 to $198.00 and gave the company an “outperform” rating in a research note on Monday, August 3rd. Weiss Ratings upgraded Quaker Houghton from a “sell (d+)” rating to a “hold (c)” rating in a research note on Monday, August 3rd. Finally, Truist Financial reissued a “buy” rating and set a $190.00 target price (up from $172.00) on shares of Quaker Houghton in a report on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Quaker Houghton presently has an average rating of “Buy” and a consensus price target of $187.00.

Insider Activity

In other news, Director William Osborne sold 600 shares of the stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $168.31, for a total transaction of $100,986.00. Following the sale, the director directly owned 616 shares of the company’s stock, valued at approximately $103,678.96. This represents a 49.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.00% of the company’s stock.

About Quaker Houghton

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.