United Services Automobile Association grew its stake in shares of Quaker Chemical Corp (NYSE:KWR) by 36.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,864 shares of the specialty chemicals company’s stock after purchasing an additional 1,041 shares during the period. United Services Automobile Association’s holdings in Quaker Chemical were worth $784,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in KWR. Krane Funds Advisors LLC purchased a new stake in shares of Quaker Chemical during the second quarter valued at $59,000. Belpointe Asset Management LLC purchased a new stake in shares of Quaker Chemical during the first quarter valued at $102,000. Pearl River Capital LLC purchased a new stake in shares of Quaker Chemical during the second quarter valued at $128,000. Ellington Management Group LLC purchased a new stake in shares of Quaker Chemical during the second quarter valued at $223,000. Finally, Virginia Retirement Systems ET AL purchased a new stake in shares of Quaker Chemical during the second quarter valued at $243,000. 99.40% of the stock is owned by institutional investors and hedge funds.
Shares of KWR stock opened at $157.38 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.69 and a quick ratio of 2.07. Quaker Chemical Corp has a fifty-two week low of $148.91 and a fifty-two week high of $224.30. The stock’s 50-day moving average is $158.24 and its two-hundred day moving average is $185.79. The firm has a market cap of $2.71 billion, a P/E ratio of 26.06, a PEG ratio of 2.20 and a beta of 1.53.
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 17th will be given a $0.385 dividend. This represents a $1.54 annualized dividend and a yield of 0.98%. The ex-dividend date of this dividend is Wednesday, October 16th. Quaker Chemical’s payout ratio is currently 25.50%.
In other Quaker Chemical news, CEO Michael F. Barry sold 3,834 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $159.02, for a total value of $609,682.68. Following the transaction, the chief executive officer now directly owns 156,301 shares of the company’s stock, valued at approximately $24,854,985.02. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.90% of the company’s stock.
KWR has been the subject of several analyst reports. ValuEngine downgraded Quaker Chemical from a “buy” rating to a “hold” rating in a report on Friday, August 16th. Zacks Investment Research raised Quaker Chemical from a “sell” rating to a “hold” rating and set a $175.00 price objective for the company in a research note on Thursday, October 3rd. Finally, Janney Montgomery Scott reissued a “buy” rating and issued a $204.00 price objective on shares of Quaker Chemical in a research note on Wednesday, October 2nd.
Quaker Chemical Company Profile
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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