A.R.T. Advisors LLC increased its position in shares of KMG Chemicals, Inc. (NYSE:KMG) by 437.0% in the first quarter, HoldingsChannel.com reports. The firm owned 25,928 shares of the specialty chemicals company’s stock after purchasing an additional 21,100 shares during the quarter. A.R.T. Advisors LLC’s holdings in KMG Chemicals were worth $1,554,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in KMG. Earnest Partners LLC purchased a new position in shares of KMG Chemicals during the 4th quarter worth about $112,000. Quantbot Technologies LP purchased a new stake in KMG Chemicals in the 1st quarter valued at about $124,000. Ramsey Quantitative Systems purchased a new stake in KMG Chemicals in the 4th quarter valued at about $138,000. Sei Investments Co. boosted its position in KMG Chemicals by 24,200.0% in the 1st quarter. Sei Investments Co. now owns 2,673 shares of the specialty chemicals company’s stock valued at $160,000 after buying an additional 2,662 shares during the period. Finally, Teacher Retirement System of Texas purchased a new stake in KMG Chemicals in the 4th quarter valued at about $290,000. 88.17% of the stock is owned by hedge funds and other institutional investors.
In other news, VP Christopher W. Gonser sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 20th. The shares were sold at an average price of $77.04, for a total value of $385,200.00. Following the completion of the sale, the vice president now owns 33,213 shares of the company’s stock, valued at approximately $2,558,729.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 6.10% of the stock is currently owned by corporate insiders.
Several equities research analysts have issued reports on the stock. KeyCorp reissued an “equal weight” rating on shares of KMG Chemicals in a research report on Thursday, June 14th. Zacks Investment Research raised shares of KMG Chemicals from a “hold” rating to a “buy” rating and set a $89.00 price objective for the company in a research report on Thursday, June 14th. Finally, ValuEngine raised shares of KMG Chemicals from a “hold” rating to a “buy” rating in a research report on Tuesday, June 12th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. KMG Chemicals has an average rating of “Hold” and an average price target of $77.33.
KMG Chemicals opened at $77.32 on Friday, Marketbeat Ratings reports. The stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of 34.06, a P/E/G ratio of 0.66 and a beta of 0.38. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.70 and a quick ratio of 1.71. KMG Chemicals, Inc. has a 1 year low of $45.65 and a 1 year high of $79.35.
KMG Chemicals (NYSE:KMG) last released its quarterly earnings data on Monday, June 11th. The specialty chemicals company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.26. The company had revenue of $118.60 million during the quarter, compared to analysts’ expectations of $112.87 million. KMG Chemicals had a net margin of 11.87% and a return on equity of 16.21%. The firm’s quarterly revenue was up 45.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.53 EPS. research analysts expect that KMG Chemicals, Inc. will post 4 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 22nd. Stockholders of record on Friday, June 15th will be given a $0.03 dividend. The ex-dividend date of this dividend is Thursday, June 14th. This represents a $0.12 annualized dividend and a dividend yield of 0.16%. KMG Chemicals’s payout ratio is presently 5.29%.
KMG Chemicals Profile
KMG Chemicals, Inc, through its subsidiaries, manufactures, formulates, and distributes specialty chemicals and performance materials worldwide. The company's Electronic Chemicals segment is involved in the sale of high purity process chemicals primarily to etch and clean silicon wafers in the production of semiconductors, photovoltaics, and flat panel displays.
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