Corebridge Financial Inc. Lowers Holdings in Quaker Houghton $KWR

Corebridge Financial Inc. cut its position in Quaker Houghton (NYSE:KWR) by 1.9% during the 1st quarter, HoldingsChannel.com reports. The firm owned 7,216 shares of the specialty chemicals company’s stock after selling 142 shares during the quarter. Corebridge Financial Inc.’s holdings in Quaker Houghton were worth $892,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of KWR. First Horizon Advisors Inc. lifted its stake in Quaker Houghton by 400.0% in the 1st quarter. First Horizon Advisors Inc. now owns 230 shares of the specialty chemicals company’s stock worth $28,000 after purchasing an additional 184 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Quaker Houghton by 390.5% during the 1st quarter. GAMMA Investing LLC now owns 363 shares of the specialty chemicals company’s stock valued at $45,000 after buying an additional 289 shares in the last quarter. Fifth Third Bancorp raised its position in shares of Quaker Houghton by 119.7% during the 1st quarter. Fifth Third Bancorp now owns 391 shares of the specialty chemicals company’s stock valued at $48,000 after buying an additional 213 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its position in shares of Quaker Houghton by 573.1% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 875 shares of the specialty chemicals company’s stock valued at $108,000 after buying an additional 745 shares in the last quarter. Finally, CWM LLC raised its position in shares of Quaker Houghton by 200.0% during the 1st quarter. CWM LLC now owns 1,053 shares of the specialty chemicals company’s stock valued at $130,000 after buying an additional 702 shares in the last quarter. 77.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

KWR has been the topic of several research reports. Royal Bank Of Canada set a $135.00 price objective on shares of Quaker Houghton and gave the company an “outperform” rating in a research report on Monday, August 4th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Quaker Houghton in a research report on Wednesday, August 13th. Finally, Jefferies Financial Group upgraded shares of Quaker Houghton from a “hold” rating to a “buy” rating and set a $146.00 price objective on the stock in a research report on Monday, June 9th. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, Quaker Houghton currently has an average rating of “Moderate Buy” and an average price target of $150.75.

Quaker Houghton Price Performance

Shares of NYSE:KWR opened at $144.63 on Friday. The stock has a market cap of $2.52 billion, a PE ratio of -336.35, a PEG ratio of 1.56 and a beta of 1.44. The company’s fifty day moving average is $129.18 and its 200 day moving average is $120.73. Quaker Houghton has a 52 week low of $95.91 and a 52 week high of $180.96. The company has a quick ratio of 1.87, a current ratio of 2.56 and a debt-to-equity ratio of 0.67.

Quaker Houghton (NYSE:KWR) last issued its earnings results on Thursday, July 31st. The specialty chemicals company reported $1.71 EPS for the quarter, missing analysts’ consensus estimates of $1.82 by ($0.11). The business had revenue of $483.40 million during the quarter, compared to analysts’ expectations of $463.57 million. Quaker Houghton had a positive return on equity of 8.35% and a negative net margin of 0.39%.Quaker Houghton’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.13 EPS. Research analysts anticipate that Quaker Houghton will post 7.75 earnings per share for the current year.

Quaker Houghton Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 17th will be issued a $0.508 dividend. This is a boost from Quaker Houghton’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Friday, October 17th. This represents a $2.03 dividend on an annualized basis and a yield of 1.4%. Quaker Houghton’s payout ratio is -451.16%.

Quaker Houghton 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.