Quaker Houghton (NYSE:KWR) Stock Price Crosses Above 200 Day Moving Average – Here’s What Happened

Quaker Houghton (NYSE:KWR) shares crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $143.70 and traded as high as $160.73. Quaker Houghton shares last traded at $160.1950, with a volume of 683,850 shares changing hands.

Wall Street Analysts Forecast Growth

KWR has been the subject of a number of research reports. Weiss Ratings upgraded Quaker Houghton from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, May 6th. Truist Financial started coverage on Quaker Houghton in a research report on Monday, June 8th. They set a “buy” rating and a $172.00 price objective on the stock. Wall Street Zen lowered Quaker Houghton from a “buy” rating to a “hold” rating in a research note on Sunday, April 12th. Zacks Research raised Quaker Houghton from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 21st. Finally, Jefferies Financial Group reduced their target price on Quaker Houghton from $203.00 to $175.00 and set a “buy” rating for the company in a research report on Monday, April 6th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Quaker Houghton has a consensus rating of “Moderate Buy” and an average price target of $168.00.

Quaker Houghton Price Performance

The company has a quick ratio of 1.72, a current ratio of 2.45 and a debt-to-equity ratio of 0.61. The stock has a market cap of $2.78 billion, a price-to-earnings ratio of 572.15, a price-to-earnings-growth ratio of 1.20 and a beta of 1.43. The company’s 50-day moving average is $143.02 and its 200-day moving average is $143.70.

Quaker Houghton (NYSE:KWR) last released its quarterly earnings data on Thursday, April 30th. The specialty chemicals company reported $1.63 earnings per share 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 analyst estimates 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. Equities research analysts expect that Quaker Houghton will post 7.16 earnings per share for the current fiscal year.

Quaker Houghton Dividend Announcement

The business also recently announced 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. This represents a $2.03 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Friday, July 17th. Quaker Houghton’s dividend payout ratio (DPR) is 725.00%.

Quaker Houghton announced that its Board of Directors has approved a stock buyback plan on Wednesday, May 13th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the specialty chemicals company to reacquire up to 10.1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other Quaker Houghton news, EVP Jeewat Bijlani sold 731 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $145.77, for a total transaction of $106,557.87. Following the completion of the transaction, the executive vice president directly owned 6,748 shares in the company, valued at $983,655.96. This represents a 9.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Quaker Houghton

Institutional investors and hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC grew its holdings in shares of Quaker Houghton by 114.3% in the 1st quarter. AQR Capital Management LLC now owns 23,139 shares of the specialty chemicals company’s stock worth $2,860,000 after purchasing an additional 12,341 shares during the last quarter. Integrated Wealth Concepts LLC increased its position in shares of Quaker Houghton by 7.1% during the 1st quarter. Integrated Wealth Concepts LLC now owns 1,650 shares of the specialty chemicals company’s stock worth $204,000 after purchasing an additional 109 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Quaker Houghton by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,211 shares of the specialty chemicals company’s stock valued at $1,015,000 after purchasing an additional 345 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Quaker Houghton by 29.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 95,751 shares of the specialty chemicals company’s stock valued at $11,836,000 after purchasing an additional 21,665 shares during the last quarter. Finally, Intech Investment Management LLC boosted its position in Quaker Houghton by 44.4% in the first quarter. Intech Investment Management LLC now owns 9,873 shares of the specialty chemicals company’s stock valued at $1,220,000 after buying an additional 3,034 shares in the last quarter. Institutional investors and hedge funds own 77.46% 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.