Royal Bank of Canada Cuts Quaker Chemical (NYSE:KWR) Price Target to $169.00

Quaker Chemical (NYSE:KWR) had its target price cut by Royal Bank of Canada from $172.00 to $169.00 in a research report released on Wednesday morning,Benzinga reports. They currently have an outperform rating on the specialty chemicals company’s stock.

KWR has been the subject of several other reports. Deutsche Bank Aktiengesellschaft decreased their target price on Quaker Chemical from $190.00 to $182.00 and set a “buy” rating for the company in a research report on Monday, November 4th. StockNews.com upgraded Quaker Chemical from a “hold” rating to a “buy” rating in a research report on Thursday, November 28th. Finally, Piper Sandler restated a “neutral” rating and set a $170.00 target price (down from $200.00) on shares of Quaker Chemical in a research report on Tuesday, January 7th.

Quaker Chemical Stock Performance

Shares of NYSE:KWR opened at $139.01 on Wednesday. The stock has a market capitalization of $2.47 billion, a P/E ratio of 20.38, a P/E/G ratio of 1.62 and a beta of 1.39. Quaker Chemical has a 1-year low of $124.66 and a 1-year high of $207.83. The company has a current ratio of 2.54, a quick ratio of 1.88 and a debt-to-equity ratio of 0.48. The business has a 50-day moving average price of $138.19 and a two-hundred day moving average price of $153.64.

Quaker Chemical (NYSE:KWR) last announced its quarterly earnings data on Monday, February 24th. The specialty chemicals company reported $1.33 earnings per share for the quarter, missing the consensus estimate of $1.62 by ($0.29). The firm had revenue of $444.09 million for the quarter, compared to the consensus estimate of $430.47 million. Quaker Chemical had a return on equity of 10.10% and a net margin of 6.58%. During the same period in the prior year, the firm posted $1.78 earnings per share. Equities analysts predict that Quaker Chemical will post 7.75 earnings per share for the current year.

Quaker Chemical Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Wednesday, April 16th will be given a $0.485 dividend. The ex-dividend date is Wednesday, April 16th. This represents a $1.94 annualized dividend and a dividend yield of 1.40%. Quaker Chemical’s dividend payout ratio is presently 28.45%.

Hedge Funds Weigh In On Quaker Chemical

Several institutional investors and hedge funds have recently modified their holdings of KWR. Raymond James Financial Inc. acquired a new position in shares of Quaker Chemical in the 4th quarter valued at approximately $28,978,000. JPMorgan Chase & Co. grew its position in shares of Quaker Chemical by 19.2% in the 4th quarter. JPMorgan Chase & Co. now owns 759,233 shares of the specialty chemicals company’s stock valued at $106,870,000 after purchasing an additional 122,494 shares during the period. Royce & Associates LP grew its position in shares of Quaker Chemical by 27.8% in the 4th quarter. Royce & Associates LP now owns 555,219 shares of the specialty chemicals company’s stock valued at $78,153,000 after purchasing an additional 120,916 shares during the period. Norges Bank acquired a new position in shares of Quaker Chemical in the 4th quarter valued at approximately $13,399,000. Finally, Marshall Wace LLP grew its position in shares of Quaker Chemical by 92.3% in the 4th quarter. Marshall Wace LLP now owns 187,715 shares of the specialty chemicals company’s stock valued at $26,423,000 after purchasing an additional 90,078 shares during the period. 77.46% of the stock is currently owned by institutional investors and hedge funds.

About Quaker Chemical

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.