Quaker Houghton (NYSE:KWR) to Buyback $250.00 million in Stock

Quaker Houghton (NYSE:KWR) declared that its board has approved a stock repurchase program on Wednesday, May 13th, RTT News reports. The company plans to buyback $250.00 million in shares. This buyback authorization permits the specialty chemicals company to reacquire up to 10.1% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Quaker Houghton Stock Up 0.5%

Shares of Quaker Houghton stock traded up $0.75 during trading hours on Thursday, hitting $142.74. The company had a trading volume of 146,820 shares, compared to its average volume of 178,148. The company’s 50-day moving average is $130.69 and its two-hundred day moving average is $141.45. Quaker Houghton has a twelve month low of $103.36 and a twelve month high of $183.01. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.45 and a quick ratio of 1.72. The company has a market cap of $2.48 billion, a P/E ratio of 509.79, a price-to-earnings-growth ratio of 0.96 and a beta of 1.42.

Quaker Houghton (NYSE:KWR) last issued its earnings results on Thursday, April 30th. The specialty chemicals company reported $1.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.66 by ($0.03). Quaker Houghton had a net margin of 0.22% and a return on equity of 9.03%. The company had revenue of $480.48 million during the quarter, compared to analyst estimates of $463.70 million. During the same quarter in the previous year, the company posted $1.58 EPS. The company’s quarterly revenue was up 8.5% on a year-over-year basis. Analysts anticipate that Quaker Houghton will post 7.43 earnings per share for the current fiscal year.

Quaker Houghton Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 17th will be issued a $0.508 dividend. The ex-dividend date is Friday, July 17th. This represents a $2.03 annualized dividend and a dividend yield of 1.4%. Quaker Houghton’s dividend payout ratio is presently 725.00%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on KWR shares. Wall Street Zen lowered shares of Quaker Houghton from a “buy” rating to a “hold” rating in a report on Sunday, April 12th. Jefferies Financial Group dropped their target price on Quaker Houghton from $203.00 to $175.00 and set a “buy” rating on the stock in a report on Monday, April 6th. Zacks Research cut Quaker Houghton from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 22nd. Seaport Research Partners raised Quaker Houghton from a “neutral” rating to a “buy” rating and set a $175.00 price objective for the company in a research report on Friday, April 17th. Finally, Royal Bank Of Canada increased their price objective on Quaker Houghton from $151.00 to $157.00 and gave the company an “outperform” rating in a report on Monday, May 4th. Three research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Quaker Houghton has an average rating of “Hold” and a consensus target price of $166.00.

About Quaker Houghton

Quaker Houghton is a global provider of process fluids, chemical specialties and sustainable solutions for industrial applications. The company develops and supplies metalworking fluids, coatings, and corrosion inhibitors, as well as heat transfer, lubrication and additive products designed to improve productivity and extend equipment life. Its portfolio addresses a range of end markets including automotive, aerospace, defense, energy, mining, agriculture and heavy industry.

The company traces its roots back to the founding of Quaker Chemical Corporation in 1918 and Houghton International in 1865.