Zacks Investment Research Upgrades Quaker Chemical (KWR) to Strong-Buy

Zacks Investment Research upgraded shares of Quaker Chemical (NYSE:KWR) from a hold rating to a strong-buy rating in a research report released on Wednesday. Zacks Investment Research currently has $228.00 price target on the specialty chemicals company’s stock.

According to Zacks, “Quaker Chemical Corporation develops, produces and markets a range of formulated chemical specialty products for various heavy industrial and manufacturing applications and, in addition, offers and markets chemical management services (CMS). The Company operates in three segments: Metalworking process chemicals, Coatings and Other chemical products. The Metalworking process chemicals segment includes industrial process fluids for various heavy industrial and manufacturing applications. Coatings segment includes temporary and permanent coatings for metal and concrete products and chemical milling maskants. “

Several other research firms have also recently weighed in on KWR. Janney Montgomery Scott began coverage on shares of Quaker Chemical in a research report on Friday, July 13th. They issued a neutral rating and a $170.00 price objective for the company. B. Riley set a $170.00 price objective on shares of Quaker Chemical and gave the company a hold rating in a research report on Tuesday, July 31st. Four analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $179.60.

NYSE:KWR opened at $198.71 on Wednesday. The stock has a market cap of $2.67 billion, a PE ratio of 39.66, a price-to-earnings-growth ratio of 3.01 and a beta of 1.35. Quaker Chemical has a 52 week low of $137.95 and a 52 week high of $202.53. The company has a quick ratio of 2.15, a current ratio of 2.78 and a debt-to-equity ratio of 0.14.

Quaker Chemical (NYSE:KWR) last announced its earnings results on Monday, July 30th. The specialty chemicals company reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.13. The business had revenue of $221.96 million during the quarter, compared to analysts’ expectations of $214.72 million. Quaker Chemical had a net margin of 3.89% and a return on equity of 17.27%. The firm’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter last year, the company posted $1.24 EPS. equities research analysts expect that Quaker Chemical will post 6.04 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 31st. Shareholders of record on Wednesday, October 17th will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 0.74%. The ex-dividend date of this dividend is Tuesday, October 16th. Quaker Chemical’s payout ratio is presently 29.54%.

In other news, Director Donald R. Caldwell sold 599 shares of the firm’s stock in a transaction dated Thursday, August 9th. The shares were sold at an average price of $170.00, for a total value of $101,830.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP D Jeffry Benoliel sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, August 8th. The shares were sold at an average price of $167.93, for a total transaction of $335,860.00. Following the completion of the transaction, the vice president now directly owns 11,531 shares in the company, valued at approximately $1,936,400.83. The disclosure for this sale can be found here. Insiders sold a total of 8,520 shares of company stock valued at $1,486,414 in the last 90 days. Corporate insiders own 3.20% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Sei Investments Co. boosted its stake in shares of Quaker Chemical by 391.8% in the 1st quarter. Sei Investments Co. now owns 1,446 shares of the specialty chemicals company’s stock valued at $214,000 after purchasing an additional 1,152 shares during the last quarter. Evergreen Capital Management LLC bought a new position in shares of Quaker Chemical in the 1st quarter valued at about $237,000. Vident Investment Advisory LLC bought a new position in shares of Quaker Chemical in the 2nd quarter valued at about $253,000. Mainstay Capital Management LLC ADV bought a new position in shares of Quaker Chemical in the 2nd quarter valued at about $298,000. Finally, Profund Advisors LLC boosted its stake in shares of Quaker Chemical by 29.3% in the 1st quarter. Profund Advisors LLC now owns 1,958 shares of the specialty chemicals company’s stock valued at $290,000 after purchasing an additional 444 shares during the last quarter. 98.16% of the stock is currently owned by institutional investors.

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. Its 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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