Verition Fund Management LLC purchased a new stake in shares of Quaker Chemical Corp (NYSE:KWR) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 1,293 shares of the specialty chemicals company’s stock, valued at approximately $240,000.
Other institutional investors and hedge funds have also modified their holdings of the company. SG Americas Securities LLC boosted its stake in Quaker Chemical by 425.8% during the first quarter. SG Americas Securities LLC now owns 3,623 shares of the specialty chemicals company’s stock valued at $458,000 after buying an additional 2,934 shares during the period. Victory Capital Management Inc. increased its stake in shares of Quaker Chemical by 60.6% in the 1st quarter. Victory Capital Management Inc. now owns 12,684 shares of the specialty chemicals company’s stock worth $1,602,000 after purchasing an additional 4,784 shares in the last quarter. State Board of Administration of Florida Retirement System increased its stake in shares of Quaker Chemical by 28.8% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 5,102 shares of the specialty chemicals company’s stock worth $644,000 after purchasing an additional 1,140 shares in the last quarter. New York State Common Retirement Fund increased its stake in shares of Quaker Chemical by 7.0% in the 1st quarter. New York State Common Retirement Fund now owns 45,676 shares of the specialty chemicals company’s stock worth $5,768,000 after purchasing an additional 2,970 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in shares of Quaker Chemical by 1.0% in the 1st quarter. Rhumbline Advisers now owns 43,900 shares of the specialty chemicals company’s stock worth $5,544,000 after purchasing an additional 425 shares in the last quarter. 86.02% of the stock is owned by institutional investors.
Separately, Zacks Investment Research upgraded Quaker Chemical from a “sell” rating to a “hold” rating in a research note on Thursday, August 13th. Five research analysts have rated the stock with a hold rating, The stock has an average rating of “Hold” and an average price target of $159.75.
In other news, CEO Michael F. Barry sold 13,544 shares of the firm’s stock in a transaction that occurred on Monday, July 20th. The shares were sold at an average price of $198.72, for a total transaction of $2,691,463.68. Following the transaction, the chief executive officer now directly owns 134,913 shares of the company’s stock, valued at $26,809,911.36. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP L Wilbert Platzer sold 5,554 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $196.48, for a total transaction of $1,091,249.92. Following the transaction, the senior vice president now directly owns 3,991 shares in the company, valued at $784,151.68. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,221 shares of company stock valued at $4,817,484. 2.10% of the stock is owned by insiders.
Shares of Quaker Chemical stock opened at $189.89 on Wednesday. The company has a market capitalization of $3.38 billion, a P/E ratio of -96.39 and a beta of 1.40. The company has a debt-to-equity ratio of 0.92, a quick ratio of 2.39 and a current ratio of 3.00. The company has a fifty day moving average of $195.44 and a 200 day moving average of $169.21. Quaker Chemical Corp has a fifty-two week low of $108.14 and a fifty-two week high of $208.26.
Quaker Chemical (NYSE:KWR) last announced its quarterly earnings results on Wednesday, August 5th. The specialty chemicals company reported $0.21 EPS for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.09. Quaker Chemical had a negative net margin of 2.46% and a positive return on equity of 6.45%. The firm had revenue of $286.04 million during the quarter, compared to the consensus estimate of $291.60 million. During the same quarter last year, the firm earned $1.56 EPS. Analysts forecast that Quaker Chemical Corp will post 3.77 EPS for the current year.
About Quaker Chemical
Quaker Chemical Corporation develops, produces, and markets various formulated chemical specialty products for a range of heavy industrial and manufacturing applications in North America, Europe, the Middle East, Africa, the Asia/Pacific, and South America. The company's products include rolling lubricants used by manufacturers of steel in the hot and cold rolling of steel, and aluminum in the hot rolling of aluminum; machining and grinding compounds for use in cutting, shaping, and grinding metal parts; hydraulic fluids for steel, metalworking, and other customers to operate hydraulic equipment; corrosion preventives to protect metals during manufacture, storage, and shipment; and specialty greases used in automotive and aerospace production processes, steel manufacturing, and various other applications.
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