PNC Financial Services Group Inc. Lowers Stock Holdings in Quaker Chemical Co. (NYSE:KWR)

PNC Financial Services Group Inc. decreased its holdings in shares of Quaker Chemical Co. (NYSE:KWR) by 1.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,539 shares of the specialty chemicals company’s stock after selling 155 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Quaker Chemical were worth $1,607,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in KWR. Vanguard Group Inc. boosted its stake in Quaker Chemical by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 1,607,511 shares of the specialty chemicals company’s stock worth $329,942,000 after buying an additional 8,484 shares during the last quarter. O Shaughnessy Asset Management LLC acquired a new stake in shares of Quaker Chemical in the first quarter worth approximately $304,000. Price T Rowe Associates Inc. MD grew its holdings in Quaker Chemical by 3.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 108,122 shares of the specialty chemicals company’s stock valued at $22,193,000 after purchasing an additional 3,441 shares during the period. Tidal Investments LLC increased its position in Quaker Chemical by 18.4% during the first quarter. Tidal Investments LLC now owns 2,842 shares of the specialty chemicals company’s stock worth $583,000 after purchasing an additional 442 shares during the last quarter. Finally, Harbor Capital Advisors Inc. raised its stake in Quaker Chemical by 374.3% during the second quarter. Harbor Capital Advisors Inc. now owns 4,183 shares of the specialty chemicals company’s stock worth $710,000 after purchasing an additional 3,301 shares during the period. Hedge funds and other institutional investors own 77.46% of the company’s stock.

Wall Street Analyst Weigh In

KWR has been the subject of several research reports. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Quaker Chemical from $190.00 to $182.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Piper Sandler upped their price target on Quaker Chemical from $190.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Royal Bank of Canada decreased their target price on Quaker Chemical from $195.00 to $180.00 and set an “outperform” rating for the company in a report on Monday, November 4th. Finally, StockNews.com lowered shares of Quaker Chemical from a “buy” rating to a “hold” rating in a report on Thursday, November 7th.

Insiders Place Their Bets

In related news, EVP Jeewat Bijlani sold 645 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $165.98, for a total value of $107,057.10. Following the transaction, the executive vice president now owns 4,747 shares in the company, valued at approximately $787,907.06. The trade was a 11.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP David Slinkman sold 1,700 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $167.80, for a total value of $285,260.00. Following the sale, the senior vice president now owns 2,825 shares of the company’s stock, valued at approximately $474,035. This trade represents a 37.57 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by company insiders.

Quaker Chemical Price Performance

Shares of NYSE KWR opened at $157.81 on Wednesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.54 and a quick ratio of 1.88. Quaker Chemical Co. has a 1-year low of $151.31 and a 1-year high of $221.94. The company has a market capitalization of $2.81 billion, a price-to-earnings ratio of 23.66, a PEG ratio of 1.99 and a beta of 1.38. The business has a 50-day moving average of $163.83 and a 200-day moving average of $169.66.

Quaker Chemical (NYSE:KWR) last released its quarterly earnings results on Thursday, October 31st. The specialty chemicals company reported $1.89 earnings per share for the quarter, missing analysts’ consensus estimates of $2.08 by ($0.19). The company had revenue of $462.27 million during the quarter, compared to analysts’ expectations of $469.17 million. Quaker Chemical had a return on equity of 10.10% and a net margin of 6.58%. The firm’s revenue was down 5.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.05 EPS. On average, equities analysts anticipate that Quaker Chemical Co. will post 7.78 EPS for the current fiscal year.

Quaker Chemical Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be paid a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend is Friday, January 17th. Quaker Chemical’s dividend payout ratio (DPR) is 28.45%.

Quaker Chemical Company Profile

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.