Cornercap Investment Counsel Inc. Trims Stock Holdings in Quaker Chemical Co. (NYSE:KWR)

Cornercap Investment Counsel Inc. reduced its stake in Quaker Chemical Co. (NYSE:KWR - Free Report) by 55.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,870 shares of the specialty chemicals company's stock after selling 3,598 shares during the quarter. Cornercap Investment Counsel Inc.'s holdings in Quaker Chemical were worth $484,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. KBC Group NV boosted its stake in shares of Quaker Chemical by 50.9% during the 3rd quarter. KBC Group NV now owns 525 shares of the specialty chemicals company's stock worth $88,000 after acquiring an additional 177 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Quaker Chemical by 5.1% during the 3rd quarter. Victory Capital Management Inc. now owns 5,332 shares of the specialty chemicals company's stock valued at $898,000 after buying an additional 259 shares in the last quarter. WCM Investment Management LLC purchased a new stake in Quaker Chemical during the third quarter valued at $9,288,000. State of New Jersey Common Pension Fund D lifted its holdings in shares of Quaker Chemical by 12.7% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 11,794 shares of the specialty chemicals company's stock valued at $1,987,000 after acquiring an additional 1,329 shares during the last quarter. Finally, Atria Investments Inc boosted its holdings in shares of Quaker Chemical by 41.1% in the 3rd quarter. Atria Investments Inc now owns 2,641 shares of the specialty chemicals company's stock worth $445,000 after purchasing an additional 769 shares during the period. 77.46% of the stock is currently owned by institutional investors.

Quaker Chemical Price Performance

Shares of NYSE:KWR traded down $0.87 during midday trading on Friday, hitting $167.71. The company had a trading volume of 77,458 shares, compared to its average volume of 113,298. Quaker Chemical Co. has a twelve month low of $151.31 and a twelve month high of $221.94. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.54 and a quick ratio of 1.88. The business's 50-day simple moving average is $163.45 and its 200-day simple moving average is $170.65. The stock has a market cap of $2.98 billion, a price-to-earnings ratio of 24.59, a price-to-earnings-growth ratio of 2.02 and a beta of 1.38.

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

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on KWR shares. Piper Sandler boosted their price objective on Quaker Chemical from $190.00 to $200.00 and gave the company an "overweight" rating in a report on Friday, November 8th. StockNews.com downgraded Quaker Chemical from a "buy" rating to a "hold" rating in a report on Thursday, November 7th. Royal Bank of Canada decreased their target price on shares of Quaker Chemical from $195.00 to $180.00 and set an "outperform" rating for the company in a research report on Monday, November 4th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on Quaker Chemical from $190.00 to $182.00 and set a "buy" rating for the company in a report on Monday, November 4th.

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.