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Carpenter Technology Corporation (CRS) - free report >>
Kronos Worldwide Inc (KRO) - free report >>
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Quaker (KWR) Breaks Ground on New Manufacturing Plant in China
Quaker Chemical Corporation (KWR - Free Report) recently celebrated breaking ground on its new cutting-edge production facility in Zhangjiagang, China. The new facility will increase the company's production capacities to meet the requirements of both its customers and KWR in the Asia-Pacific region.
The facility, which combines industry-leading technology with Quaker's long heritage of manufacturing excellence and safety, is anticipated to start operating by the second quarter of 2026. It will play a significant part in Quakers' global supply chain, strengthening the company's position as a market leader in industrial process fluids.
The company has established a strong presence in China and throughout the Asia-Pacific to service key industrial sectors such as steel, aluminum, automobiles, beverage cans, mining and wind energy.
Shares of KWR have lost 12.4% over the past year compared with a 14.4% decline of its industry.
Image Source: Zacks Investment Research
Quaker, on its first-quarter call, noted that it is well-placed to deliver volume and earnings growth in 2024. KWR remains committed to executing its enterprise strategy. The company also expects its investments to enhance its ability to outperform its end markets.
Zacks Rank & Key Picks
KWR currently carries a Zacks Rank #3 (Hold).
Better-ranked stocks in the basic materials space include Carpenter Technology Corporation (CRS - Free Report) , Eldorado Gold Corporation (EGO - Free Report) and Kronos Worldwide, Inc. (KRO - Free Report) .
Carpenter Technology currently carries a Zacks Rank #1 (Strong Buy). CRS beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 15.1%. The company's shares have soared 92.7% in the past year. You can see the complete list of today's Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Eldorado’s current-year earnings is pegged at $1.09 per share, indicating a year-over-year rise of 91.2%. EGO, a Zacks Rank #1 stock, beat the consensus estimate in each of the last four quarters, with the average earnings surprise being 430.7%. The company's shares have rallied roughly 56.2% in the past year.
Kronos Worldwide currently carries a Zacks Rank #1. KRO has a projected earnings growth rate of 297.7% for the current year. The company’s shares have rallied around 37% in the past year.