Bank of New York Mellon Corp Grows Stock Position in Quaker Chemical Co. (NYSE:KWR)

Bank of New York Mellon Corp grew its position in Quaker Chemical Co. (NYSE:KWR) by 3.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 138,878 shares of the specialty chemicals company’s stock after acquiring an additional 4,733 shares during the quarter. Bank of New York Mellon Corp owned about 0.77% of Quaker Chemical worth $23,568,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fidelis Capital Partners LLC purchased a new position in shares of Quaker Chemical in the first quarter valued at approximately $25,000. First Pacific Financial purchased a new stake in Quaker Chemical in the second quarter valued at $25,000. Mather Group LLC. acquired a new position in shares of Quaker Chemical in the 1st quarter valued at $41,000. Fifth Third Bancorp grew its holdings in shares of Quaker Chemical by 36.8% during the 2nd quarter. Fifth Third Bancorp now owns 286 shares of the specialty chemicals company’s stock worth $49,000 after purchasing an additional 77 shares during the period. Finally, Quest Partners LLC acquired a new stake in shares of Quaker Chemical during the 4th quarter worth about $83,000. Hedge funds and other institutional investors own 77.46% of the company’s stock.

Quaker Chemical Stock Up 0.6 %

Shares of KWR opened at $166.01 on Thursday. The stock has a market capitalization of $2.99 billion, a PE ratio of 25.27, a P/E/G ratio of 1.93 and a beta of 1.37. Quaker Chemical Co. has a 1 year low of $138.67 and a 1 year high of $221.94. 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’s 50-day simple moving average is $170.33 and its 200-day simple moving average is $183.18.

Quaker Chemical (NYSE:KWR) last issued its quarterly earnings results on Monday, August 5th. The specialty chemicals company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.21 by ($0.08). The business 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 firm’s revenue for the quarter was down 6.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.93 EPS. Analysts forecast that Quaker Chemical Co. will post 8.34 earnings per share for the current fiscal year.

Quaker Chemical Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 17th will be given a $0.485 dividend. The ex-dividend date is Thursday, October 17th. This represents a $1.94 dividend on an annualized basis and a 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 currently 27.70%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Piper Sandler assumed coverage on shares of Quaker Chemical in a research report on Thursday, May 16th. They issued an “overweight” rating and a $220.00 target price on the stock. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Quaker Chemical from $225.00 to $190.00 and set a “buy” rating on the stock in a research report on Monday, August 26th. Royal Bank of Canada decreased their target price on shares of Quaker Chemical from $220.00 to $195.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Finally, StockNews.com cut shares of Quaker Chemical from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd.

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.