Shares of Quaker Chemical Corporation (NYSE: ) hit a 52-week low, trading at $136.75. This price level reflects a significant decline for the company, which recorded a change of -31.43% over the last year. According to InvestingPro analysis, the stock appears to be undervalued at current levels, and technical indicators point to oversold conditions. The specialty chemical company, known for its process fluids and coatings for the metal and manufacturing industries, faced market challenges that affected its stock results. Despite these challenges, the company maintains strong fundamentals with a healthy current ratio of 2.54 and has maintained dividend payments for 53 consecutive years. Investors are closely monitoring Quaker Chemical’s strategies for recovery and future growth as the company navigates the current economic landscape. InvestingPro subscribers can access detailed analysis and 8 additional key insights on KWR’s financial health and growth prospects.
In other recent news, Quaker Chemical Corporation reported a 6% year-over-year decrease in net sales totaling $462 million. Despite this, the company maintained stable gross margins and reported adjusted EBITDA of $79 million. Quaker Chemical also achieved more than $20 million in annual cost savings from its Cost and Optimization Program, maintaining a strong cash position with more than $200 million in cash on hand.
The company has announced leadership changes, with Joseph Berquist named the new CEO and president. In addition, Melissa Leneis, senior vice president and chief human resources officer, has left the company and Andrew E. Tometich, former CEO, has finalized a separation agreement with the company.
Quaker Chemical’s board of directors approved long-term incentive compensation awards to Tom Coler, executive vice president and chief financial officer, and Jeewat Bijlani, executive vice president and chief strategy officer. Rewards are associated with companies In total (EPA:) Shareholder return relative to the S&P 1500 index.
Piper Sandler, an analyst firm, adjusted its price target on Quaker Chemical, raising it to $200 from the previous $190, while maintaining an Overweight rating on the stock. This adjustment was attributed to expected seasonal trends and a more gradual economic recovery in Asia and the European Union. These are recent developments in Quaker Chemical’s business operations and financial results.
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