UBS Group AG Reduces Position in Quaker Houghton $KWR

UBS Group AG lessened its stake in shares of Quaker Houghton (NYSE:KWR) by 21.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 58,701 shares of the specialty chemicals company’s stock after selling 16,071 shares during the quarter. UBS Group AG’s holdings in Quaker Houghton were worth $8,060,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in KWR. William Blair Investment Management LLC purchased a new stake in shares of Quaker Houghton during the third quarter valued at approximately $46,331,000. Victory Capital Management Inc. boosted its stake in shares of Quaker Houghton by 1,897.7% during the third quarter. Victory Capital Management Inc. now owns 321,637 shares of the specialty chemicals company’s stock valued at $42,376,000 after purchasing an additional 305,537 shares during the period. Wellington Management Group LLP boosted its stake in shares of Quaker Houghton by 79.9% during the third quarter. Wellington Management Group LLP now owns 661,888 shares of the specialty chemicals company’s stock valued at $87,204,000 after purchasing an additional 293,977 shares during the period. Scopus Asset Management L.P. purchased a new stake in shares of Quaker Houghton during the second quarter valued at approximately $9,353,000. Finally, Millennium Management LLC boosted its stake in shares of Quaker Houghton by 3,639.8% during the third quarter. Millennium Management LLC now owns 79,696 shares of the specialty chemicals company’s stock valued at $10,500,000 after purchasing an additional 77,565 shares during the period. Hedge funds and other institutional investors own 77.46% of the company’s stock.

Quaker Houghton Price Performance

Shares of Quaker Houghton stock opened at $136.13 on Tuesday. 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 $2.36 billion, a PE ratio of 486.19, a P/E/G ratio of 0.93 and a beta of 1.42. The business has a 50 day moving average of $130.63 and a 200 day moving average of $141.51. Quaker Houghton has a 52 week low of $103.36 and a 52 week high of $183.01.

Quaker Houghton (NYSE:KWR) last announced its earnings results on Thursday, April 30th. The specialty chemicals company reported $1.63 EPS for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.03). The business 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%. Quaker Houghton’s revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.58 EPS. As a group, equities research analysts forecast that Quaker Houghton will post 7.43 earnings per share for the current year.

Quaker Houghton Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 17th will be issued a dividend of $0.508 per share. This represents a $2.03 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Friday, July 17th. Quaker Houghton’s dividend payout ratio is currently 725.00%.

Quaker Houghton declared that its board has initiated a share repurchase program on Wednesday, May 13th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the specialty chemicals company to reacquire up to 10.1% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

KWR has been the subject of a number of analyst reports. Zacks Research lowered Quaker Houghton from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 22nd. Seaport Research Partners upgraded Quaker Houghton from a “neutral” rating to a “buy” rating and set a $175.00 target price for the company in a report on Friday, April 17th. Jefferies Financial Group decreased their target price on Quaker Houghton from $203.00 to $175.00 and set a “buy” rating for the company in a report on Monday, April 6th. Royal Bank Of Canada upped their target price on Quaker Houghton from $151.00 to $157.00 and gave the company an “outperform” rating in a report on Monday, May 4th. Finally, Wall Street Zen downgraded Quaker Houghton from a “buy” rating to a “hold” rating in a report on Sunday, April 12th. Three equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $166.00.

Quaker Houghton Profile

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.