Cullen Capital Management LLC Takes $628,000 Position in Quaker Houghton $KWR

Cullen Capital Management LLC purchased a new position in Quaker Houghton (NYSE:KWR) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,955 shares of the specialty chemicals company’s stock, valued at approximately $628,000.

A number of other large investors also recently bought and sold shares of KWR. Kohmann Bosshard Financial Services LLC purchased a new stake in Quaker Houghton in the fourth quarter worth $27,000. EverSource Wealth Advisors LLC boosted its stake in shares of Quaker Houghton by 284.8% during the second quarter. EverSource Wealth Advisors LLC now owns 304 shares of the specialty chemicals company’s stock valued at $34,000 after purchasing an additional 225 shares during the period. Farther Finance Advisors LLC grew its holdings in shares of Quaker Houghton by 165.0% in the fourth quarter. Farther Finance Advisors LLC now owns 273 shares of the specialty chemicals company’s stock worth $37,000 after purchasing an additional 170 shares during the last quarter. Allworth Financial LP purchased a new position in Quaker Houghton in the 2nd quarter worth about $39,000. Finally, Global Retirement Partners LLC increased its stake in Quaker Houghton by 556.9% in the 4th quarter. Global Retirement Partners LLC now owns 335 shares of the specialty chemicals company’s stock worth $46,000 after buying an additional 284 shares during the period. Hedge funds and other institutional investors own 77.46% of the company’s stock.

Insider Activity at Quaker Houghton

In related news, Director William H. Osborne sold 600 shares of the stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $168.31, for a total transaction of $100,986.00. Following the completion of the sale, the director owned 616 shares of the company’s stock, valued at $103,678.96. This represents a 49.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.00% of the stock is currently owned by company insiders.

Quaker Houghton Stock Up 1.9%

Shares of NYSE KWR opened at $165.20 on Wednesday. Quaker Houghton has a 12-month low of $112.18 and a 12-month high of $183.01. The stock’s fifty day simple moving average is $158.10 and its two-hundred day simple moving average is $147.04. The stock has a market capitalization of $2.84 billion, a PE ratio of 29.45, a price-to-earnings-growth ratio of 1.15 and a beta of 1.40. The company has a current ratio of 2.46, a quick ratio of 1.70 and a debt-to-equity ratio of 0.62.

Quaker Houghton (NYSE:KWR) last issued its quarterly earnings data on Thursday, July 30th. The specialty chemicals company reported $2.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.66 by $0.53. Quaker Houghton had a return on equity of 9.55% and a net margin of 4.94%.The firm had revenue of $532.55 million during the quarter, compared to analysts’ expectations of $504.63 million. During the same period in the prior year, the business posted $1.71 EPS. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. As a group, analysts expect that Quaker Houghton will post 7.72 EPS for the current fiscal year.

Quaker Houghton announced that its board has authorized a share buyback program on Wednesday, May 13th that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the specialty chemicals company to buy up to 10.1% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Quaker Houghton Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Friday, October 16th will be given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, October 16th. This is an increase from Quaker Houghton’s previous quarterly dividend of $0.51. Quaker Houghton’s payout ratio is presently 36.19%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on KWR shares. Weiss Ratings raised shares of Quaker Houghton from a “sell (d+)” rating to a “hold (c)” rating in a research report on Monday, August 3rd. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Quaker Houghton from $165.00 to $185.00 and gave the company a “buy” rating in a research note on Tuesday. Zacks Research raised Quaker Houghton from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 6th. Royal Bank Of Canada upped their target price on Quaker Houghton from $177.00 to $198.00 and gave the stock an “outperform” rating in a report on Monday, August 3rd. Finally, Wall Street Zen upgraded Quaker Houghton from a “hold” rating to a “buy” rating in a report on Saturday, August 1st. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $187.00.

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.