KMG Chemicals (KMG) Coverage Initiated at Goldman Sachs Group

Research analysts at Goldman Sachs Group started coverage on shares of KMG Chemicals (NYSE:KMG) in a research report issued to clients and investors on Monday. The firm set a “neutral” rating on the specialty chemicals company’s stock.

Other research analysts have also recently issued reports about the stock. Zacks Investment Research cut shares of KMG Chemicals from a “hold” rating to a “sell” rating in a report on Tuesday, October 31st. KeyCorp began coverage on shares of KMG Chemicals in a report on Tuesday, November 21st. They set an “overweight” rating and a $63.00 price target on the stock. Finally, ValuEngine cut shares of KMG Chemicals from a “buy” rating to a “hold” rating in a report on Friday, December 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. KMG Chemicals has an average rating of “Hold” and a consensus target price of $70.00.

Shares of KMG Chemicals (KMG) opened at $64.16 on Monday. The company has a current ratio of 2.87, a quick ratio of 1.92 and a debt-to-equity ratio of 0.99. The company has a market cap of $986.29, a PE ratio of 33.59 and a beta of 0.53. KMG Chemicals has a 52-week low of $36.29 and a 52-week high of $68.13.

KMG Chemicals (NYSE:KMG) last released its quarterly earnings results on Monday, December 11th. The specialty chemicals company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.20. KMG Chemicals had a net margin of 6.46% and a return on equity of 15.41%. The business had revenue of $110.70 million for the quarter, compared to analysts’ expectations of $106.60 million. The firm’s revenue for the quarter was up 44.7% on a year-over-year basis. research analysts anticipate that KMG Chemicals will post 3.17 EPS for the current year.

In related news, major shareholder David L. Hatcher sold 15,000 shares of the business’s stock in a transaction dated Saturday, December 29th. The shares were sold at an average price of $66.37, for a total transaction of $995,550.00. Following the transaction, the insider now directly owns 1,301,097 shares in the company, valued at $86,353,807.89. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder David L. Hatcher sold 9,000 shares of the business’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $53.84, for a total transaction of $484,560.00. Following the completion of the transaction, the insider now owns 1,487,097 shares in the company, valued at $80,065,302.48. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 420,000 shares of company stock worth $26,217,780. 6.10% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company boosted its stake in KMG Chemicals by 1.6% in the second quarter. The Manufacturers Life Insurance Company now owns 7,228 shares of the specialty chemicals company’s stock valued at $351,000 after acquiring an additional 112 shares during the last quarter. Legal & General Group Plc boosted its stake 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 valued at $106,000 after acquiring an additional 414 shares during the last quarter. Voya Investment Management LLC boosted its stake in KMG Chemicals by 8.0% in the second quarter. Voya Investment Management LLC now owns 6,213 shares of the specialty chemicals company’s stock valued at $302,000 after acquiring an additional 458 shares during the last quarter. Teachers Advisors LLC boosted its stake in KMG Chemicals by 3.3% in the second quarter. Teachers Advisors LLC now owns 18,036 shares of the specialty chemicals company’s stock valued at $878,000 after acquiring an additional 579 shares during the last quarter. Finally, California Public Employees Retirement System boosted its stake in KMG Chemicals by 2.1% in the third quarter. California Public Employees Retirement System now owns 50,543 shares of the specialty chemicals company’s stock valued at $2,774,000 after acquiring an additional 1,043 shares during the last quarter. Hedge funds and other institutional investors own 56.28% of the company’s stock.

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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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