Envestnet Portfolio Solutions Inc. Cuts Stake in Quaker Chemical Co. (NYSE:KWR)

Envestnet Portfolio Solutions Inc. cut its holdings in shares of Quaker Chemical Co. (NYSE:KWR) by 7.9% during the 4th quarter, HoldingsChannel reports. The fund owned 1,559 shares of the specialty chemicals company’s stock after selling 133 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Quaker Chemical were worth $219,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. JPMorgan Chase & Co. raised its position in Quaker Chemical by 16.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 636,739 shares of the specialty chemicals company’s stock worth $107,284,000 after purchasing an additional 90,726 shares during the period. State Street Corp increased its holdings in shares of Quaker Chemical by 3.8% in the third quarter. State Street Corp now owns 554,612 shares of the specialty chemicals company’s stock worth $93,447,000 after buying an additional 20,059 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of Quaker Chemical by 26.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 394,708 shares of the specialty chemicals company’s stock valued at $53,680,000 after acquiring an additional 82,843 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Quaker Chemical by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 312,784 shares of the specialty chemicals company’s stock valued at $52,713,000 after acquiring an additional 3,118 shares during the period. Finally, Raymond James Financial Inc. bought a new position in Quaker Chemical during the 4th quarter worth approximately $28,978,000. 77.46% of the stock is currently owned by institutional investors.

Quaker Chemical Stock Down 3.4 %

KWR stock opened at $125.33 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.88 and a current ratio of 2.54. The company has a market cap of $2.21 billion, a price-to-earnings ratio of 18.38, a P/E/G ratio of 1.62 and a beta of 1.43. The business’s 50-day moving average is $136.71 and its two-hundred day moving average is $149.01. Quaker Chemical Co. has a fifty-two week low of $124.00 and a fifty-two week high of $207.33.

Quaker Chemical (NYSE:KWR) last announced its quarterly earnings data on Monday, February 24th. The specialty chemicals company reported $1.33 EPS for the quarter, missing the consensus estimate of $1.62 by ($0.29). Quaker Chemical had a net margin of 6.58% and a return on equity of 10.10%. The firm had revenue of $444.09 million for the quarter, compared to the consensus estimate of $430.47 million. During the same quarter in the previous year, the business earned $1.78 earnings per share. As a group, analysts forecast that Quaker Chemical Co. will post 7.75 earnings per share for the current year.

Quaker Chemical Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Wednesday, April 16th will be issued a $0.485 dividend. The ex-dividend date of this dividend is Wednesday, April 16th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 1.55%. Quaker Chemical’s dividend payout ratio (DPR) is presently 29.80%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on KWR. StockNews.com lowered Quaker Chemical from a “buy” rating to a “hold” rating in a research note on Wednesday, February 26th. Piper Sandler reissued a “neutral” rating and issued a $170.00 target price (down from $200.00) on shares of Quaker Chemical in a research note on Tuesday, January 7th. Finally, Royal Bank of Canada reduced their price objective on shares of Quaker Chemical from $172.00 to $169.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th.

Quaker Chemical 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.