KMG Chemicals, Inc. (NYSE:KMG) has earned a consensus broker rating score of 1.00 (Strong Buy) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. Two analysts have rated the stock with a strong buy rating.
Brokerages have set a 1-year consensus price target of $49.50 for the company and are expecting that the company will post $0.75 earnings per share for the current quarter, according to Zacks. Zacks has also assigned KMG Chemicals an industry rank of 167 out of 265 based on the ratings given to related companies.
Several analysts have recently weighed in on KMG shares. BidaskClub upgraded KMG Chemicals from a “hold” rating to a “buy” rating in a research note on Tuesday, July 11th. Zacks Investment Research downgraded KMG Chemicals from a “buy” rating to a “hold” rating in a research note on Tuesday, August 15th.
In other news, major shareholder David L. Hatcher sold 6,000 shares of the stock in a transaction dated Friday, July 21st. The shares were sold at an average price of $51.17, for a total transaction of $307,020.00. Following the transaction, the insider now owns 1,691,097 shares of the company’s stock, valued at $86,533,433.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder David L. Hatcher sold 3,000 shares of the stock in a transaction dated Thursday, July 20th. The stock was sold at an average price of $50.77, for a total transaction of $152,310.00. Following the transaction, the insider now directly owns 1,691,097 shares in the company, valued at approximately $85,856,994.69. The disclosure for this sale can be found here. Insiders have sold 252,000 shares of company stock worth $12,660,630 in the last ninety days. Corporate insiders own 6.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of KMG. Creative Planning bought a new position in KMG Chemicals in the second quarter worth about $105,000. Legal & General Group Plc lifted its holdings in KMG Chemicals by 23.2% in the second quarter. Legal & General Group Plc now owns 2,198 shares of the specialty chemicals company’s stock worth $106,000 after acquiring an additional 414 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in KMG Chemicals by 59.9% in the second quarter. Oppenheimer Asset Management Inc. now owns 2,620 shares of the specialty chemicals company’s stock worth $128,000 after acquiring an additional 981 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in KMG Chemicals by 28.8% in the first quarter. Russell Investments Group Ltd. now owns 3,481 shares of the specialty chemicals company’s stock worth $160,000 after acquiring an additional 778 shares during the last quarter. Finally, AXA bought a new position in KMG Chemicals in the first quarter worth about $208,000. 73.72% of the stock is currently owned by hedge funds and other institutional investors.
KMG Chemicals (NYSE KMG) traded down 5.19% on Wednesday, reaching $55.21. The company had a trading volume of 308,593 shares. The stock’s 50-day moving average price is $51.29 and its 200 day moving average price is $50.73. The firm has a market capitalization of $656.39 million, a price-to-earnings ratio of 30.29 and a beta of 0.62. KMG Chemicals has a 52-week low of $26.33 and a 52-week high of $61.10.
KMG Chemicals (NYSE:KMG) last announced its earnings results on Monday, October 16th. The specialty chemicals company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.16. The company had revenue of $96.26 million during the quarter, compared to the consensus estimate of $96.00 million. KMG Chemicals had a return on equity of 17.98% and a net margin of 7.09%. The firm’s quarterly revenue was up 27.8% compared to the same quarter last year. On average, equities analysts anticipate that KMG Chemicals will post $3.12 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Tuesday, October 10th were given a dividend of $0.03 per share. The ex-dividend date of this dividend was Friday, October 6th. This represents a $0.12 annualized dividend and a dividend yield of 0.22%. KMG Chemicals’s payout ratio is 6.25%.
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About KMG Chemicals
KMG Chemicals, Inc manufactures, formulates and globally distributes specialty chemicals. The Company operates businesses selling electronic chemicals, industrial wood treating chemicals, and industrial valve lubricants and sealants. The Company operates through two segments: Electronic chemicals and Other chemicals.
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