Victory Capital Management Incorporated recently increased its current shareholding in Quaker Houghton by 1,897.7 per cent.
The news was confirmed by the independent investment management firm after a recent filing with the US federal government’s Securities and Exchange Commission (SEC).
After acquiring 305,537 more shares, the firm now has a total of 321,637 shares, giving it a 1.85 per cent ownership stake in the speciality chemicals company known for its high-quality lubricant products.
Quaker Houghton is a respected international provider of sustainable solutions, chemical specialities and process fluids for use in industrial applications. The business both supplies and formulates metalworking fluids, corrosion inhibitors, thermal oils and coatings along with additives and lubrication products.
Offered solutions include heat transfer fluid (HTF), cutting fluid, slideway oil and rust preventative oils designed to prolong equipment lifespan and improve productivity and performance. Its present portfolio supports a wide selection of markets that includes aerospace, defence, energy generation, mining, heavy industry and agriculture.
The current operation traces its roots right back to 1918, when the Quaker Chemical Corporation was formed, and 1865, when Houghton International was founded. The two companies merged to form Quaker Houghton in 2019, headquartering in Pennsylvania and trading on the New York Stock Exchange (NYSE) using the KWR ticker symbol.
Several other investors have recently boosted their holdings in Quaker Houghton. Royce & Associates LP increased its shares by 3.2 per cent and State Street Corp grew its holdings by 9.2 per cent.
