KMG Chemicals Inc. (NYSE:KMG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday.

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. “

Shares of KMG Chemicals (NYSE:KMG) opened at 32.26 on Tuesday. The firm has a 50-day moving average of $28.82 and a 200-day moving average of $26.81. The company has a market capitalization of $379.44 million, a P/E ratio of 20.55 and a beta of 0.51. KMG Chemicals has a one year low of $18.87 and a one year high of $32.55.

KMG Chemicals (NYSE:KMG) last issued its earnings results on Thursday, October 13th. The company reported $0.38 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by $0.02. The business had revenue of $75.30 million for the quarter. KMG Chemicals had a return on equity of 14.14% and a net margin of 6.27%. Equities research analysts expect that KMG Chemicals will post $1.77 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FNY Managed Accounts LLC purchased a new position in KMG Chemicals during the second quarter valued at about $104,000. BlackRock Advisors LLC increased its position in KMG Chemicals by 1.3% in the second quarter. BlackRock Advisors LLC now owns 4,789 shares of the company’s stock valued at $124,000 after buying an additional 61 shares in the last quarter. Acrospire Investment Management LLC increased its position in KMG Chemicals by 65.5% in the second quarter. Acrospire Investment Management LLC now owns 5,027 shares of the company’s stock valued at $131,000 after buying an additional 1,989 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new position in KMG Chemicals during the third quarter valued at about $191,000. Finally, Spark Investment Management LLC purchased a new position in KMG Chemicals during the third quarter valued at about $209,000. 68.86% of the stock is owned by institutional investors.

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.

5 Day Chart for NYSE:KMG

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