Quaker Chemical Co. (NYSE:KWR – Get Rating)’s share price gapped up before the market opened on Friday following a better than expected earnings announcement. The stock had previously closed at $153.03, but opened at $160.14. Quaker Chemical shares last traded at $165.19, with a volume of 81 shares changing hands.
The specialty chemicals company reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.24. Quaker Chemical had a net margin of 5.68% and a return on equity of 7.97%. The company had revenue of $492.40 million for the quarter, compared to the consensus estimate of $456.00 million. Quaker Chemical’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.82 earnings per share.
Quaker Chemical Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Monday, October 17th will be paid a $0.435 dividend. This represents a $1.74 dividend on an annualized basis and a dividend yield of 0.93%. This is an increase from Quaker Chemical’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Friday, October 14th. Quaker Chemical’s payout ratio is 28.97%.
Analyst Upgrades and Downgrades
Institutional Investors Weigh In On Quaker Chemical
A number of institutional investors and hedge funds have recently made changes to their positions in KWR. Chatham Capital Group Inc. increased its stake in Quaker Chemical by 1.3% during the 1st quarter. Chatham Capital Group Inc. now owns 4,772 shares of the specialty chemicals company’s stock worth $825,000 after buying an additional 62 shares during the period. Maryland State Retirement & Pension System increased its stake in Quaker Chemical by 1.2% during the 2nd quarter. Maryland State Retirement & Pension System now owns 5,444 shares of the specialty chemicals company’s stock worth $814,000 after buying an additional 62 shares during the period. US Bancorp DE increased its stake in Quaker Chemical by 9.4% during the 2nd quarter. US Bancorp DE now owns 825 shares of the specialty chemicals company’s stock worth $124,000 after buying an additional 71 shares during the period. Comerica Bank increased its stake in Quaker Chemical by 0.6% during the 1st quarter. Comerica Bank now owns 13,056 shares of the specialty chemicals company’s stock worth $2,206,000 after buying an additional 74 shares during the period. Finally, Great West Life Assurance Co. Can grew its holdings in Quaker Chemical by 0.7% during the 1st quarter. Great West Life Assurance Co. Can now owns 11,712 shares of the specialty chemicals company’s stock worth $2,073,000 after acquiring an additional 78 shares in the last quarter. 78.10% of the stock is owned by hedge funds and other institutional investors.
Quaker Chemical Stock Up 22.2 %
The company has a current ratio of 2.18, a quick ratio of 1.52 and a debt-to-equity ratio of 0.61. The company has a market cap of $3.35 billion, a price-to-earnings ratio of 32.63 and a beta of 1.34. The firm’s fifty day simple moving average is $148.79 and its 200 day simple moving average is $167.47.
About Quaker Chemical
Quaker Chemical Corporation develops, produces, and markets various formulated chemical specialty products for a range of heavy industrial and manufacturing applications. The company operates through four segments: Americas; Europe, Middle East, and Africa; Asia/Pacific; and Global Specialty Businesses.
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