KMG Chemicals Inc. (KMG) Rating Lowered to Sell at Zacks Investment Research
KMG Chemicals Inc. (NYSE:KMG) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Monday.
According to Zacks, “KMG Chemicals manufactures, markets and distributes specialty, niche chemicals. The company manufactures, markets and distributes three wood preserving chemicals, pentachlorophenol, creosote and sodium pentachlorophenate, to industrial customers engaged in the wood preserving business. The company’s customers use these preservatives to treat wood and supply the treated wood products to end-users in a variety of industries, principally the railroad, utility and construction industries. “
KMG Chemicals (NYSE:KMG) opened at 29.25 on Monday. The company has a market capitalization of $343.25 million, a price-to-earnings ratio of 19.11 and a beta of 0.67. KMG Chemicals has a 12 month low of $18.87 and a 12 month high of $30.14. The stock’s 50 day moving average price is $27.91 and its 200 day moving average price is $25.73.
KMG Chemicals (NYSE:KMG) last released its quarterly earnings results on Thursday, October 13th. The company reported $0.38 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.40 by $0.02. The firm earned $75.30 million during the quarter. KMG Chemicals had a return on equity of 14.40% and a net margin of 6.27%. Equities research analysts anticipate that KMG Chemicals will post $1.65 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, October 18th. Stockholders of record on Tuesday, October 11th were paid a $0.03 dividend. The ex-dividend date was Thursday, October 6th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.41%. KMG Chemicals’s dividend payout ratio (DPR) is currently 7.69%.
Several institutional investors have recently added to or reduced their stakes in KMG. Chartwell Investment Partners LLC purchased a new position in KMG Chemicals during the second quarter worth about $4,846,000. Algert Global LLC increased its position in KMG Chemicals by 150.2% in the third quarter. Algert Global LLC now owns 121,946 shares of the company’s stock valued at $3,455,000 after buying an additional 73,205 shares during the period. TFS Capital LLC bought a new position in KMG Chemicals during the second quarter valued at $1,495,000. WCM Investment Management CA bought a new position in KMG Chemicals during the second quarter valued at $1,332,000. Finally, Trigran Investments Inc. increased its position in KMG Chemicals by 2.2% in the second quarter. Trigran Investments Inc. now owns 1,747,899 shares of the company’s stock valued at $45,428,000 after buying an additional 38,138 shares during the period. Hedge funds and other institutional investors own 68.92% of the company’s stock.
KMG Chemicals Company Profile
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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