Bank of New York Mellon Corp Has $13.59 Million Stake in KMG Chemicals, Inc. (KMG)

Bank of New York Mellon Corp decreased its holdings in shares of KMG Chemicals, Inc. (NYSE:KMG) by 2.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 184,140 shares of the specialty chemicals company’s stock after selling 4,204 shares during the quarter. Bank of New York Mellon Corp’s holdings in KMG Chemicals were worth $13,586,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. increased its stake in shares of KMG Chemicals by 15.0% during the 2nd quarter. BlackRock Inc. now owns 978,751 shares of the specialty chemicals company’s stock worth $72,214,000 after purchasing an additional 127,714 shares during the last quarter. Wells Fargo & Company MN increased its stake in shares of KMG Chemicals by 7.9% during the 2nd quarter. Wells Fargo & Company MN now owns 888,300 shares of the specialty chemicals company’s stock worth $65,539,000 after purchasing an additional 65,116 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of KMG Chemicals by 5.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 659,902 shares of the specialty chemicals company’s stock worth $48,688,000 after purchasing an additional 34,440 shares during the last quarter. FMR LLC increased its stake in shares of KMG Chemicals by 38.8% during the 2nd quarter. FMR LLC now owns 342,806 shares of the specialty chemicals company’s stock worth $25,292,000 after purchasing an additional 95,839 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in shares of KMG Chemicals by 18.6% during the 2nd quarter. American Century Companies Inc. now owns 204,508 shares of the specialty chemicals company’s stock worth $15,089,000 after purchasing an additional 32,083 shares during the last quarter. Institutional investors own 83.98% of the company’s stock.

NYSE:KMG opened at $76.14 on Friday. KMG Chemicals, Inc. has a 1 year low of $50.67 and a 1 year high of $79.35. The company has a current ratio of 2.62, a quick ratio of 1.71 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $1.18 billion, a P/E ratio of 17.58, a PEG ratio of 0.58 and a beta of 0.48.

KMG Chemicals (NYSE:KMG) last posted its earnings results on Thursday, October 18th. The specialty chemicals company reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.28. KMG Chemicals had a net margin of 13.93% and a return on equity of 16.69%. Research analysts forecast that KMG Chemicals, Inc. will post 4.64 EPS for the current year.

Several brokerages have recently commented on KMG. ValuEngine upgraded shares of KMG Chemicals from a “hold” rating to a “buy” rating in a research note on Wednesday, August 15th. Zacks Investment Research lowered shares of KMG Chemicals from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 15th. Fraser Mackenzie restated a “buy” rating on shares of KMG Chemicals in a research note on Friday, November 2nd. Seaport Global Securities lowered shares of KMG Chemicals from a “buy” rating to a “neutral” rating in a research note on Friday, September 14th. Finally, Gabelli lowered shares of KMG Chemicals from a “buy” rating to a “hold” rating in a research note on Thursday, August 16th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $76.00.

TRADEMARK VIOLATION WARNING: “Bank of New York Mellon Corp Has $13.59 Million Stake in KMG Chemicals, Inc. (KMG)” was first posted by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this piece on another website, it was illegally stolen and reposted in violation of US and international copyright & trademark laws. The legal version of this piece can be accessed at https://www.dispatchtribunal.com/2018/12/07/bank-of-new-york-mellon-corp-has-13-59-million-stake-in-kmg-chemicals-inc-kmg.html.

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.

Read More: Trading Penny Stocks

Want to see what other hedge funds are holding KMG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for KMG Chemicals, Inc. (NYSE:KMG).

Institutional Ownership by Quarter for KMG Chemicals (NYSE:KMG)

Receive News & Ratings for KMG Chemicals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KMG Chemicals and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply