Massachusetts Financial Services Co. MA Sells 2,871 Shares of Quaker Chemical Co. (NYSE:KWR)

Massachusetts Financial Services Co. MA lessened its holdings in Quaker Chemical Co. (NYSE:KWR) by 1.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 159,380 shares of the specialty chemicals company’s stock after selling 2,871 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.89% of Quaker Chemical worth $27,047,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. Envestnet Asset Management Inc. boosted its stake in shares of Quaker Chemical by 5.3% in the 2nd quarter. Envestnet Asset Management Inc. now owns 84,468 shares of the specialty chemicals company’s stock valued at $14,334,000 after purchasing an additional 4,225 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its stake in shares of Quaker Chemical by 18.6% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 6,032 shares of the specialty chemicals company’s stock valued at $1,024,000 after purchasing an additional 948 shares during the last quarter. Texas Permanent School Fund Corp boosted its stake in shares of Quaker Chemical by 19.7% in the 2nd quarter. Texas Permanent School Fund Corp now owns 14,506 shares of the specialty chemicals company’s stock valued at $2,462,000 after purchasing an additional 2,386 shares during the last quarter. Quest Partners LLC boosted its stake in shares of Quaker Chemical by 61.8% in the 2nd quarter. Quest Partners LLC now owns 12,520 shares of the specialty chemicals company’s stock valued at $2,125,000 after purchasing an additional 4,783 shares during the last quarter. Finally, Arizona State Retirement System boosted its stake in Quaker Chemical by 16.4% during the 2nd quarter. Arizona State Retirement System now owns 4,029 shares of the specialty chemicals company’s stock worth $684,000 after acquiring an additional 569 shares during the last quarter. Institutional investors own 77.46% of the company’s stock.

Quaker Chemical Stock Performance

Shares of KWR stock opened at $165.69 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.94 and a current ratio of 2.63. The company has a market capitalization of $2.98 billion, a P/E ratio of 25.22, a price-to-earnings-growth ratio of 1.90 and a beta of 1.37. The company’s 50 day moving average price is $169.12 and its two-hundred day moving average price is $180.37. Quaker Chemical Co. has a 52 week low of $138.67 and a 52 week high of $221.94.

Quaker Chemical (NYSE:KWR) last announced its earnings results on Monday, August 5th. The specialty chemicals company reported $2.13 EPS for the quarter, missing the consensus estimate of $2.21 by ($0.08). The company had revenue of $463.57 million for the quarter, compared to analyst estimates of $493.68 million. Quaker Chemical had a return on equity of 10.49% and a net margin of 6.56%. The business’s quarterly revenue was down 6.4% on a year-over-year basis. During the same quarter last year, the business posted $1.93 earnings per share. On average, analysts expect that Quaker Chemical Co. will post 8.3 earnings per share for the current fiscal year.

Quaker Chemical Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 17th will be issued a dividend of $0.485 per share. This is an increase from Quaker Chemical’s previous quarterly dividend of $0.46. This represents a $1.94 annualized dividend and a yield of 1.17%. The ex-dividend date of this dividend is Thursday, October 17th. Quaker Chemical’s dividend payout ratio (DPR) is 27.70%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Royal Bank of Canada reduced their price objective on shares of Quaker Chemical from $220.00 to $195.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Quaker Chemical from $225.00 to $190.00 and set a “buy” rating on the stock in a research note on Monday, August 26th. Finally, StockNews.com lowered shares of Quaker Chemical from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd.

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.