Envestnet Asset Management Inc. Increases Position in Quaker Chemical Co. (NYSE:KWR)

Envestnet Asset Management Inc. increased its stake in shares of Quaker Chemical Co. (NYSE:KWR) by 5.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 84,468 shares of the specialty chemicals company’s stock after purchasing an additional 4,225 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.47% of Quaker Chemical worth $14,334,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Teacher Retirement System of Texas lifted its position in Quaker Chemical by 9.7% during the fourth quarter. Teacher Retirement System of Texas now owns 1,385 shares of the specialty chemicals company’s stock valued at $296,000 after acquiring an additional 122 shares during the last quarter. Norges Bank purchased a new position in Quaker Chemical during the 4th quarter worth $29,226,000. Quest Partners LLC acquired a new position in Quaker Chemical during the 4th quarter valued at about $83,000. Orion Portfolio Solutions LLC raised its stake in Quaker Chemical by 19.2% in the fourth quarter. Orion Portfolio Solutions LLC now owns 8,979 shares of the specialty chemicals company’s stock valued at $1,796,000 after buying an additional 1,446 shares during the last quarter. Finally, TFO Wealth Partners LLC boosted its holdings in Quaker Chemical by 20,700.0% in the fourth quarter. TFO Wealth Partners LLC now owns 416 shares of the specialty chemicals company’s stock worth $89,000 after acquiring an additional 414 shares in the last quarter. 77.46% of the stock is owned by hedge funds and other institutional investors.

Quaker Chemical Price Performance

Shares of NYSE KWR opened at $165.46 on Wednesday. Quaker Chemical Co. has a 52 week low of $138.67 and a 52 week high of $221.94. The business’s 50 day moving average price is $168.37 and its 200 day moving average price is $179.65. The company has a quick ratio of 1.94, a current ratio of 2.63 and a debt-to-equity ratio of 0.50. The firm has a market cap of $2.98 billion, a P/E ratio of 25.18, a P/E/G ratio of 1.90 and a beta of 1.37.

Quaker Chemical (NYSE:KWR) last released its quarterly earnings data 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). Quaker Chemical had a net margin of 6.56% and a return on equity of 10.49%. The business had revenue of $463.57 million during the quarter, compared to analysts’ expectations of $493.68 million. During the same period last year, the company earned $1.93 earnings per share. The firm’s revenue was down 6.4% on a year-over-year basis. On average, sell-side analysts expect that Quaker Chemical Co. will post 8.3 earnings per share for the current year.

Quaker Chemical Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 17th will be paid a dividend of $0.485 per share. The ex-dividend date is Thursday, October 17th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 1.17%. This is a positive change from Quaker Chemical’s previous quarterly dividend of $0.46. Quaker Chemical’s dividend payout ratio (DPR) is presently 29.53%.

Analysts Set New Price Targets

KWR has been the topic of several recent analyst reports. StockNews.com downgraded shares of Quaker Chemical from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Royal Bank of Canada decreased their price target on shares of Quaker Chemical from $220.00 to $195.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Quaker Chemical from $225.00 to $190.00 and set a “buy” rating on the stock in a report on Monday, August 26th.

About Quaker Chemical

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.