Northern Trust Corp raised its holdings in KMG Chemicals, Inc. (NYSE:KMG) by 11.6% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 178,691 shares of the specialty chemicals company’s stock after acquiring an additional 18,537 shares during the quarter. Northern Trust Corp owned approximately 1.15% of KMG Chemicals worth $13,184,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also made changes to their positions in the company. Sanders Morris Harris LLC bought a new position in KMG Chemicals in the 2nd quarter valued at $205,000. Teacher Retirement System of Texas bought a new position in shares of KMG Chemicals during the 2nd quarter worth $208,000. Jane Street Group LLC bought a new position in shares of KMG Chemicals during the 1st quarter worth $239,000. Chicago Equity Partners LLC bought a new position in shares of KMG Chemicals during the 2nd quarter worth $311,000. Finally, OMERS ADMINISTRATION Corp bought a new position in shares of KMG Chemicals during the 2nd quarter worth $384,000. 86.27% of the stock is currently owned by institutional investors.
KMG Chemicals stock opened at $75.89 on Wednesday. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.62 and a quick ratio of 1.71. KMG Chemicals, Inc. has a one year low of $50.67 and a one year high of $79.35. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of 17.53, a price-to-earnings-growth ratio of 0.58 and a beta of 0.48.
KMG Chemicals (NYSE:KMG) last released its quarterly earnings results on Thursday, October 18th. The specialty chemicals company reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.28. KMG Chemicals had a return on equity of 16.69% and a net margin of 13.93%. As a group, equities analysts predict that KMG Chemicals, Inc. will post 4.64 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 9th. Shareholders of record on Monday, October 1st were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.16%. The ex-dividend date was Friday, September 28th. KMG Chemicals’s dividend payout ratio (DPR) is presently 2.77%.
A number of equities research analysts recently weighed in on the company. Gabelli downgraded KMG Chemicals from a “buy” rating to a “hold” rating in a research report on Thursday, August 16th. Zacks Investment Research downgraded KMG Chemicals from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 15th. ValuEngine raised KMG Chemicals from a “hold” rating to a “buy” rating in a research report on Wednesday, August 15th. Fraser Mackenzie reaffirmed a “buy” rating on shares of KMG Chemicals in a research report on Friday, November 2nd. Finally, Seaport Global Securities downgraded KMG Chemicals from a “buy” rating to a “neutral” rating in a research report on Friday, September 14th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $76.00.
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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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