In a recent filing with the Securities and Exchange Commission (SEC), the State Board of Administration of Florida Retirement System revealed that it has reduced its position in Quaker Chemical Co. (NYSE:KWR) by 49.2% during the first quarter. The institutional investor now owns 2,230 shares of the specialty chemicals company’s stock, down from 4,390 shares previously held.
As of its most recent filing with the SEC, the State Board of Administration’s holdings in Quaker Chemical were valued at $441,000. This significant decrease in ownership suggests that the pension fund has made a strategic decision to reallocate its investments.
Quaker Chemical reported its quarterly earnings results on August 1st, surpassing analysts’ expectations. The company posted earnings per share (EPS) of $1.93 for the quarter, $0.08 higher than the consensus estimate of $1.85. While Quaker Chemical’s revenue for the quarter was slightly lower than expected at $495.44 million compared to a consensus estimate of $507 million, it still marked a 0.6% increase from the same period last year.
Despite these positive results and beating analysts’ forecasts, it is important to note that Quaker Chemical’s net margin stood at a mere 0.45% and its return on equity was 9.59%. These figures indicate that while there may be growth potential for this specialty chemicals company, it faces some challenges in terms of profitability.
There have been mixed opinions from equities analysts regarding Quaker Chemical stock in recent months. Stifel Nicolaus initiated coverage on June 1st and gave the stock a “buy” rating along with a price target of $250 per share. Royal Bank of Canada also expressed optimism about Quaker Chemical by increasing their price target from $227 to $232 and rating it as “outperform.” However, StockNews.com took a more cautious stance by issuing a “hold” rating.
Looking ahead, sell-side analysts project that Quaker Chemical will post EPS of 7.46 for the current fiscal year. While these predictions are subject to change based on future developments, they give investors and stakeholders a general idea of what to expect for the company’s financial performance.
Overall, the State Board of Administration’s decision to decrease its holdings in Quaker Chemical demonstrates their strategic approach to managing their portfolio and maximizing returns. This move comes after the company’s solid earnings report, but it is essential for investors to carefully monitor Quaker Chemical’s future performance and take into account the varying opinions from industry analysts before making any investment decisions regarding this stock.
Quaker Chemical Corporation
KWR
Buy
Updated on: 05/12/2023
Financial Health
Healthy
Debt to equity ratio: Buy
Price to earnings ratio: Strong Sell
Price to book ratio: Strong Buy
DCF: Strong Buy
ROE: Neutral
Recent Hedge Fund Stakes and Insider Trading Activity Surrounding Quaker Chemical Co.
Quaker Chemical Co. (NYSE:KWR) has recently seen a number of hedge funds either increasing or reducing their stakes in the company. Raymond James & Associates, for example, boosted its holdings in Quaker Chemical by 2.5% during the first quarter, purchasing an additional 607 shares which now brings their total ownership to 24,633 shares worth $4,257,000. Similarly, Bank of New York Mellon Corp also increased their stake by 0.4%, adding an extra 544 shares to their holdings and bringing their total ownership to 133,734 shares valued at $23,111,000.
US Bancorp DE demonstrated significant growth in its holdings with Quaker Chemical during the first quarter as well. They raised their stake by 30.2%, acquiring an additional 175 shares and ultimately owning 754 shares worth $131,000. MetLife Investment Management LLC also saw a substantial increase in its holdings with a boost of 54.2% during the first quarter. They purchased an additional 2,473 shares and now hold a total of 7,035 worth $1,216,000.
Finally, Panagora Asset Management Inc., rounded out the list with a boost of approximately 21.4%. They added an extra 355 shares to their portfolio and now possess a total of 2,014 shares worth $348,000.
These hedge funds and institutional investors now collectively own around 77.46% of Quaker Chemical’s stock.
In other recent news related to Quaker Chemical Co., EVP Melissa Leneis sold off approximately 4,445 shares on Friday, July 7th at an average price of $195.61 per share for a total value of roughly $869,486.45. Following this transaction, Leneis currently holds direct ownership over approximately 3,178 shares valued at approximately $621,648.58. This transaction was officially disclosed in a legal filing with the SEC, accessible through this link. It should be noted that insiders now own approximately 1.30% of the company’s stock.
As of the most recent market data, Quaker Chemical Co.’s stock (NYSE:KWR) opened at $158.71 on Friday, September 22, 2023. The company’s 50-day moving average price is $177.70 and its 200-day moving average price stands at $188.37. With a current ratio of 2.84 and quick ratio of 2.05, Quaker Chemical has demonstrated its solid financial standing. The company maintains a debt-to-equity ratio of 0.65.
Quaker Chemical Co., valued at approximately $2.86 billion in terms of market capitalization, currently holds a P/E ratio of 337.68 and a P/E/G ratio of 1.06, suggesting potential overvaluation based on these metrics alone. However, it is important to note that Quaker Chemical demonstrates a beta value of 1.41 which implies moderate volatility relative to the overall market.
Over the course of the previous twelve months, Quaker Chemical Co.’s stock has shown fluctuations between a low point of $129.06 per share and a high point reaching up to $216.45 per share.
Please note that these figures are subject to change as the market evolves and new developments arise within Quaker Chemical Co.’s operations and performance.
Overall, while there have been recent changes in hedge fund stake ownership as well as insider trading activity surrounding Quaker Chemical Co., it remains crucial for investors to conduct further research before making any financial decisions regarding this particular stock option or sector within the chemical industry as general economic conditions continue to unfold in unpredictable ways in light of societal changes and technological advancements occurring worldwide.
For more comprehensive information on Quaker Chemical Co.’s current status, performance, and future prospects, please refer to our latest research report on the company which provides a thorough analysis of its financials and overall outlook.
Discussion about this post