KMG Chemicals Inc. (KMG) Posts Earnings Results, Misses Estimates By $0.02 EPS
KMG Chemicals Inc. (NYSE:KMG) issued its quarterly earnings data on Thursday. The company reported $0.38 EPS for the quarter, missing the Zacks’ consensus estimate of $0.40 by $0.02. The company had revenue of $75.30 million for the quarter, compared to analyst estimates of $77.10 million. KMG Chemicals had a net margin of 6.11% and a return on equity of 14.12%.
Shares of KMG Chemicals (NYSE:KMG) traded down 0.73% during mid-day trading on Thursday, hitting $27.12. The company’s stock had a trading volume of 42,653 shares. KMG Chemicals has a 1-year low of $18.87 and a 1-year high of $29.45. The company has a market cap of $318.25 million, a price-to-earnings ratio of 17.71 and a beta of 0.67. The company has a 50-day moving average of $27.83 and a 200 day moving average of $25.54.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 18th. Shareholders of record on Tuesday, October 11th will be given a $0.03 dividend. The ex-dividend date is Thursday, October 6th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.44%. KMG Chemicals’s dividend payout ratio is currently 7.84%.
Separately, Zacks Investment Research upgraded KMG Chemicals from a “sell” rating to a “hold” rating in a research note on Tuesday, August 16th.
Institutional investors have recently made changes to their positions in the company. BlackRock Advisors LLC increased its position in shares of KMG Chemicals by 1.3% in the second quarter. BlackRock Advisors LLC now owns 4,789 shares of the company’s stock worth $124,000 after buying an additional 61 shares during the period. A.R.T. Advisors LLC acquired a new position in shares of KMG Chemicals during the second quarter worth $202,000. Rhumbline Advisers increased its position in shares of KMG Chemicals by 3.2% in the second quarter. Rhumbline Advisers now owns 12,744 shares of the company’s stock worth $331,000 after buying an additional 392 shares during the period. Panagora Asset Management Inc. increased its position in shares of KMG Chemicals by 804.0% in the second quarter. Panagora Asset Management Inc. now owns 14,853 shares of the company’s stock worth $386,000 after buying an additional 13,210 shares during the period. Finally, Menta Capital LLC increased its position in shares of KMG Chemicals by 19.7% in the second quarter. Menta Capital LLC now owns 30,273 shares of the company’s stock worth $787,000 after buying an additional 4,982 shares during the period. 68.91% of the stock is currently owned by hedge funds and other institutional investors.
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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