Lord Abbett & CO. LLC Makes New Investment in Quaker Chemical Co. (NYSE:KWR)

Lord Abbett & CO. LLC bought a new position in shares of Quaker Chemical Co. (NYSE:KWR) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 24,762 shares of the specialty chemicals company’s stock, valued at approximately $5,082,000. Lord Abbett & CO. LLC owned about 0.14% of Quaker Chemical as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fidelis Capital Partners LLC acquired a new stake in Quaker Chemical during the first quarter worth $25,000. SRS Capital Advisors Inc. increased its stake in Quaker Chemical by 345.9% during the fourth quarter. SRS Capital Advisors Inc. now owns 165 shares of the specialty chemicals company’s stock worth $35,000 after acquiring an additional 128 shares during the last quarter. Mather Group LLC. acquired a new stake in Quaker Chemical during the first quarter worth $41,000. McGlone Suttner Wealth Management Inc. acquired a new stake in Quaker Chemical during the fourth quarter worth $50,000. Finally, Strs Ohio boosted its position in shares of Quaker Chemical by 50.0% during the fourth quarter. Strs Ohio now owns 300 shares of the specialty chemicals company’s stock worth $64,000 after buying an additional 100 shares during the period. Institutional investors and hedge funds own 77.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Piper Sandler assumed coverage on Quaker Chemical in a research report on Thursday, May 16th. They set an “overweight” rating and a $220.00 price target for the company. StockNews.com lowered Quaker Chemical from a “buy” rating to a “hold” rating in a research report on Monday.

Quaker Chemical Stock Down 3.7 %

NYSE:KWR traded down $6.99 during midday trading on Friday, reaching $180.11. The company had a trading volume of 285,743 shares, compared to its average volume of 92,747. The firm has a market capitalization of $3.24 billion, a price-to-earnings ratio of 27.74, a PEG ratio of 1.53 and a beta of 1.40. The stock’s fifty day simple moving average is $177.33 and its 200-day simple moving average is $189.96. Quaker Chemical Co. has a 12-month low of $138.67 and a 12-month high of $221.94. The company has a current ratio of 2.66, a quick ratio of 1.98 and a debt-to-equity ratio of 0.53.

Quaker Chemical (NYSE:KWR) last released its earnings results on Thursday, May 2nd. The specialty chemicals company reported $2.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.97 by $0.12. The firm had revenue of $469.76 million during the quarter, compared to analyst estimates of $494.53 million. Quaker Chemical had a return on equity of 10.35% and a net margin of 6.16%. Quaker Chemical’s revenue was down 6.1% compared to the same quarter last year. During the same period last year, the business posted $1.89 earnings per share. On average, sell-side analysts anticipate that Quaker Chemical Co. will post 8.68 earnings per share for the current fiscal year.

Quaker Chemical Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Wednesday, July 17th will be issued a $0.455 dividend. The ex-dividend date of this dividend is Wednesday, July 17th. This represents a $1.82 dividend on an annualized basis and a yield of 1.01%. Quaker Chemical’s dividend payout ratio (DPR) is presently 27.70%.

Quaker Chemical Company Profile

Quaker Chemical Corporation, together with its subsidiaries, develops, produces, and markets various formulated specialty chemical products for a range of heavy industrial and manufacturing applications in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It offers metal removal fluids, cleaning fluids, corrosion inhibitors, metal drawing and forming fluids, die-cast mold releases, heat treatment and quenchants, metal forging fluids, hydraulic fluids, specialty greases, offshore sub-sea energy control fluids, rolling lubricants, rod and wire drawing fluids, and surface treatment chemicals.