KMG Chemicals, Inc. (KMG) Upgraded by BidaskClub to “Buy”
BidaskClub upgraded shares of KMG Chemicals, Inc. (NYSE:KMG) from a hold rating to a buy rating in a report published on Tuesday.
Separately, Gabelli raised shares of KMG Chemicals from a hold rating to a buy rating in a research note on Monday, May 1st.
Shares of KMG Chemicals (NYSE KMG) traded up 0.39% during mid-day trading on Tuesday, hitting $51.60. 68,226 shares of the company were exchanged. The company’s 50-day moving average price is $53.53 and its 200-day moving average price is $44.45. KMG Chemicals has a 12-month low of $25.87 and a 12-month high of $61.10. The firm has a market capitalization of $613.47 million, a P/E ratio of 28.30 and a beta of 0.58.
KMG Chemicals (NYSE:KMG) last issued its quarterly earnings data on Friday, June 9th. The specialty chemicals company reported $0.53 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.06. The business had revenue of $81.60 million during the quarter, compared to the consensus estimate of $79.78 million. KMG Chemicals had a net margin of 7.05% and a return on equity of 15.66%. The firm’s revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.41 EPS. Equities research analysts predict that KMG Chemicals will post $2.09 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 23rd. Investors of record on Tuesday, June 13th were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.23%. The ex-dividend date was Friday, June 9th. KMG Chemicals’s payout ratio is 6.67%.
In other KMG Chemicals news, major shareholder David L. Hatcher sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, April 28th. The shares were sold at an average price of $52.27, for a total value of $156,810.00. Following the completion of the transaction, the insider now directly owns 1,820,097 shares in the company, valued at approximately $95,136,470.19. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder David L. Hatcher sold 9,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 19th. The shares were sold at an average price of $43.20, for a total transaction of $388,800.00. Following the completion of the transaction, the insider now owns 1,847,097 shares of the company’s stock, valued at $79,794,590.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 153,000 shares of company stock valued at $7,686,510. Corporate insiders own 6.90% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. James Investment Research Inc. acquired a new position in shares of KMG Chemicals during the second quarter valued at about $1,234,000. Creative Planning acquired a new position in shares of KMG Chemicals during the second quarter valued at about $105,000. Youngs Advisory Group Inc. boosted its position in shares of KMG Chemicals by 1.2% in the second quarter. Youngs Advisory Group Inc. now owns 29,753 shares of the specialty chemicals company’s stock valued at $1,448,000 after buying an additional 356 shares during the period. Goldman Sachs Group Inc. boosted its stake in KMG Chemicals by 10.5% in the first quarter. Goldman Sachs Group Inc. now owns 10,791 shares of the specialty chemicals company’s stock valued at $497,000 after buying an additional 1,022 shares during the period. Finally, Driehaus Capital Management LLC purchased a new stake in KMG Chemicals during the first quarter valued at $3,436,000. Hedge funds and other institutional investors own 70.00% 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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