ValuEngine downgraded shares of KMG Chemicals (NYSE:KMG) from a buy rating to a hold rating in a report issued on Tuesday.
A number of other equities analysts also recently issued reports on KMG. KeyCorp began coverage on KMG Chemicals in a research note on Tuesday, November 21st. They set an overweight rating and a $63.00 target price for the company. Zacks Investment Research downgraded KMG Chemicals from a buy rating to a hold rating in a research note on Wednesday, February 14th. Finally, Goldman Sachs Group began coverage on KMG Chemicals in a research note on Monday, January 22nd. They issued a neutral rating and a $73.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $73.67.
KMG Chemicals (KMG) opened at $67.12 on Tuesday. The stock has a market capitalization of $1,030.00, a PE ratio of 29.44 and a beta of 0.37. KMG Chemicals has a 1 year low of $37.29 and a 1 year high of $70.60. The company has a current ratio of 2.87, a quick ratio of 1.92 and a debt-to-equity ratio of 0.99.
KMG Chemicals (NYSE:KMG) last announced its earnings results on Thursday, March 8th. The specialty chemicals company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.32. The firm had revenue of $113.90 million during the quarter, compared to analysts’ expectations of $112.57 million. KMG Chemicals had a return on equity of 18.32% and a net margin of 10.59%. The business’s revenue was up 44.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.57 EPS. equities research analysts predict that KMG Chemicals will post 3.17 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 19th. Shareholders of record on Monday, March 12th will be given a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.18%. The ex-dividend date is Friday, March 9th. KMG Chemicals’s dividend payout ratio (DPR) is presently 5.26%.
In other news, major shareholder David L. Hatcher sold 15,000 shares of KMG Chemicals stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $57.40, for a total transaction of $861,000.00. Following the sale, the insider now directly owns 896,097 shares of the company’s stock, valued at $51,435,967.80. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder David L. Hatcher sold 9,000 shares of KMG Chemicals stock in a transaction dated Wednesday, December 20th. The stock was sold at an average price of $66.85, for a total value of $601,650.00. Following the sale, the insider now directly owns 1,376,097 shares in the company, valued at $91,992,084.45. The disclosure for this sale can be found here. Insiders sold 609,000 shares of company stock worth $38,279,340 over the last three months. 6.10% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. The Manufacturers Life Insurance Company increased its position in shares of KMG Chemicals by 1.6% during the second quarter. The Manufacturers Life Insurance Company now owns 7,228 shares of the specialty chemicals company’s stock worth $351,000 after acquiring an additional 112 shares during the last quarter. Voya Investment Management LLC increased its position in shares of KMG Chemicals by 8.0% during the second quarter. Voya Investment Management LLC now owns 6,213 shares of the specialty chemicals company’s stock worth $302,000 after acquiring an additional 458 shares during the last quarter. California Public Employees Retirement System increased its position in shares of KMG Chemicals by 2.1% during the third quarter. California Public Employees Retirement System now owns 50,543 shares of the specialty chemicals company’s stock worth $2,774,000 after acquiring an additional 1,043 shares during the last quarter. EAM Investors LLC increased its holdings in KMG Chemicals by 1.5% in the fourth quarter. EAM Investors LLC now owns 77,296 shares of the specialty chemicals company’s stock valued at $5,108,000 after buying an additional 1,178 shares during the last quarter. Finally, Brown Advisory Inc. boosted its stake in KMG Chemicals by 0.9% in the fourth quarter. Brown Advisory Inc. now owns 128,452 shares of the specialty chemicals company’s stock valued at $8,488,000 after acquiring an additional 1,185 shares during the period. 81.01% of the stock is currently owned by institutional investors and hedge funds.
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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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