Schwab Charles Investment Management Inc. lifted its holdings in shares of KMG Chemicals, Inc. (NYSE:KMG) by 93.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,571 shares of the specialty chemicals company’s stock after purchasing an additional 17,171 shares during the quarter. Schwab Charles Investment Management Inc. owned 0.23% of KMG Chemicals worth $1,953,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of KMG. Legal & General Group Plc grew its holdings in shares of KMG Chemicals by 23.2% during the second quarter. Legal & General Group Plc now owns 2,198 shares of the specialty chemicals company’s stock worth $106,000 after purchasing an additional 414 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its position in KMG Chemicals by 59.9% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 2,620 shares of the specialty chemicals company’s stock worth $128,000 after buying an additional 981 shares during the last quarter. Victory Capital Management Inc. bought a new stake in KMG Chemicals in the 3rd quarter worth approximately $155,000. Hodges Capital Management Inc. bought a new stake in KMG Chemicals in the 3rd quarter worth approximately $221,000. Finally, Cubist Systematic Strategies LLC bought a new stake in KMG Chemicals in the 2nd quarter worth approximately $242,000. 56.17% of the stock is owned by institutional investors.
Shares of KMG Chemicals, Inc. (KMG) opened at $64.16 on Friday. The firm has a market capitalization of $986.29, a P/E ratio of 33.59 and a beta of 0.53. KMG Chemicals, Inc. has a 12-month low of $36.29 and a 12-month high of $68.13. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.87 and a quick ratio of 1.92.
KMG Chemicals (NYSE:KMG) last released its earnings results on Monday, December 11th. The specialty chemicals company reported $0.83 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.20. The company had revenue of $110.70 million during the quarter, compared to the consensus estimate of $106.60 million. KMG Chemicals had a return on equity of 15.41% and a net margin of 6.46%. The company’s revenue was up 44.7% compared to the same quarter last year. analysts expect that KMG Chemicals, Inc. will post 3.17 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, January 5th. Shareholders of record on Friday, December 22nd were given a $0.03 dividend. The ex-dividend date of this dividend was Thursday, December 21st. This represents a $0.12 annualized dividend and a yield of 0.19%. KMG Chemicals’s payout ratio is currently 6.28%.
In other KMG Chemicals news, major shareholder David L. Hatcher sold 9,000 shares of the business’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $53.84, for a total value of $484,560.00. Following the completion of the sale, the insider now owns 1,487,097 shares in the company, valued at $80,065,302.48. 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 business’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $55.09, for a total value of $165,270.00. Following the completion of the sale, the insider now owns 1,478,097 shares of the company’s stock, valued at approximately $81,428,363.73. The disclosure for this sale can be found here. Insiders sold 420,000 shares of company stock valued at $26,217,780 in the last quarter. Corporate insiders own 6.10% of the company’s stock.
A number of research firms recently weighed in on KMG. Zacks Investment Research upgraded KMG Chemicals from a “sell” rating to a “hold” rating and set a $70.00 target price for the company in a research report on Thursday, December 14th. KeyCorp restated a “buy” rating and issued a $70.00 target price (up previously from $63.00) on shares of KMG Chemicals in a research report on Wednesday, December 13th. Finally, ValuEngine downgraded KMG Chemicals from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $70.00.
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KMG Chemicals Profile
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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