Bastion Asset Management Inc. Takes $5.56 Million Position in Quaker Houghton $KWR

Bastion Asset Management Inc. bought a new position in shares of Quaker Houghton (NYSE:KWR) during the first quarter, according to its most recent filing with the SEC. The fund bought 44,266 shares of the specialty chemicals company’s stock, valued at approximately $5,560,000. Quaker Houghton accounts for 1.7% of Bastion Asset Management Inc.’s investment portfolio, making the stock its 25th largest holding. Bastion Asset Management Inc. owned about 0.25% of Quaker Houghton at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Illinois Municipal Retirement Fund raised its holdings in shares of Quaker Houghton by 10.6% in the 1st quarter. Illinois Municipal Retirement Fund now owns 8,103 shares of the specialty chemicals company’s stock worth $1,007,000 after purchasing an additional 777 shares during the period. Fifth Third Bancorp increased its position in Quaker Houghton by 3,715.0% in the first quarter. Fifth Third Bancorp now owns 6,371 shares of the specialty chemicals company’s stock worth $791,000 after buying an additional 6,204 shares during the last quarter. Personal CFO Solutions LLC increased its position in Quaker Houghton by 30.1% in the first quarter. Personal CFO Solutions LLC now owns 2,042 shares of the specialty chemicals company’s stock worth $254,000 after buying an additional 472 shares during the last quarter. Keybank National Association OH raised 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 during the period. Finally, MQS Management LLC purchased a new position in shares of Quaker Houghton during the 1st quarter valued at $246,000. 77.46% of the stock is owned by hedge funds and other institutional investors.

Quaker Houghton Stock Up 1.8%

Shares of NYSE KWR opened at $154.76 on Friday. Quaker Houghton has a 52 week low of $111.42 and a 52 week high of $183.01. The business has a 50-day simple moving average of $147.26 and a two-hundred day simple moving average of $145.05. 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 company has a market cap of $2.69 billion, a P/E ratio of 552.74, a P/E/G ratio of 1.16 and a beta of 1.40.

Quaker Houghton (NYSE:KWR) last announced its quarterly earnings results on Thursday, April 30th. The specialty chemicals company reported $1.63 earnings per share for the quarter, missing the consensus estimate of $1.66 by ($0.03). The company had revenue of $480.48 million for the quarter, compared to the consensus estimate of $463.70 million. Quaker Houghton had a net margin of 0.22% and a return on equity of 9.03%. The company’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.58 earnings per share. Research analysts anticipate that Quaker Houghton will post 7.16 earnings per share for the current fiscal year.

Quaker Houghton announced that its Board of Directors has initiated a share buyback program 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 buy up to 10.1% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.

Quaker Houghton Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, July 17th will be paid a $0.508 dividend. The ex-dividend date is Friday, July 17th. This represents a $2.03 annualized dividend and a yield of 1.3%. Quaker Houghton’s dividend payout ratio is currently 725.00%.

Insider Buying and Selling

In other Quaker Houghton news, EVP Jeewat Bijlani sold 731 shares of the firm’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $145.77, for a total value of $106,557.87. Following the completion of the transaction, the executive vice president directly owned 6,748 shares of the company’s stock, valued at $983,655.96. This trade represents a 9.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

KWR has been the subject of several research reports. Seaport Research Partners upgraded Quaker Houghton from a “neutral” rating to a “buy” rating and set a $175.00 price target for the company in a research note on Friday, April 17th. Wall Street Zen cut Quaker Houghton from a “buy” rating to a “hold” rating in a research note on Sunday, April 12th. Truist Financial started coverage on shares of Quaker Houghton in a report on Monday, June 8th. They set a “buy” rating and a $172.00 price objective on the stock. Zacks Research upgraded shares of 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 shares of Quaker Houghton from $203.00 to $175.00 and set a “buy” rating for the company in a research note on Monday, April 6th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $168.00.

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.