Zacks: KMG Chemicals, Inc. (KMG) Receives Average Recommendation of “” from Analysts
Shares of KMG Chemicals, Inc. (NYSE:KMG) have received a consensus broker rating score of 1.00 (Strong Buy) from the two analysts that cover the stock, Zacks Investment Research reports. Two investment analysts have rated the stock with a strong buy rating.
Brokers have set a 12-month consensus target price of $49.50 for the company and are expecting that the company will post $0.53 EPS for the current quarter, according to Zacks. Zacks has also given KMG Chemicals an industry rank of 111 out of 265 based on the ratings given to related companies.
Several research analysts recently commented on KMG shares. Gabelli upgraded KMG Chemicals from a “hold” rating to a “buy” rating in a research note on Monday, May 1st. BidaskClub upgraded KMG Chemicals from a “hold” rating to a “buy” rating in a research note on Tuesday, July 11th. Finally, Zacks Investment Research cut KMG Chemicals from a “buy” rating to a “hold” rating in a research note on Tuesday, August 15th.
In related news, major shareholder David L. Hatcher sold 6,000 shares of the business’s stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $47.55, for a total value of $285,300.00. Following the transaction, the insider now owns 1,616,097 shares in the company, valued at $76,845,412.35. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder David L. Hatcher sold 3,000 shares of the business’s stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $48.89, for a total value of $146,670.00. Following the completion of the transaction, the insider now owns 1,763,097 shares in the company, valued at approximately $86,197,812.33. The disclosure for this sale can be found here. In the last quarter, insiders sold 207,000 shares of company stock worth $10,217,580. Insiders own 6.90% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State Street Corp boosted its position in KMG Chemicals by 3.0% in the fourth quarter. State Street Corp now owns 139,844 shares of the specialty chemicals company’s stock valued at $5,439,000 after buying an additional 4,038 shares during the period. Teachers Advisors LLC raised its stake in shares of KMG Chemicals by 45.6% in the fourth quarter. Teachers Advisors LLC now owns 20,185 shares of the specialty chemicals company’s stock valued at $785,000 after buying an additional 6,322 shares in the last quarter. Youngs Advisory Group Inc. raised its stake in shares of KMG Chemicals by 1.8% in the first quarter. Youngs Advisory Group Inc. now owns 29,397 shares of the specialty chemicals company’s stock valued at $1,354,000 after buying an additional 508 shares in the last quarter. Acadian Asset Management LLC raised its stake in shares of KMG Chemicals by 24.3% in the first quarter. Acadian Asset Management LLC now owns 192,779 shares of the specialty chemicals company’s stock valued at $8,881,000 after buying an additional 37,679 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its stake in shares of KMG Chemicals by 28.8% in the first quarter. Russell Investments Group Ltd. now owns 3,481 shares of the specialty chemicals company’s stock valued at $160,000 after buying an additional 778 shares in the last quarter. Institutional investors and hedge funds own 72.76% of the company’s stock.
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KMG Chemicals (NYSE KMG) traded up 0.86% during trading on Friday, reaching $47.82. The company’s stock had a trading volume of 31,007 shares. The stock has a market capitalization of $568.53 million, a PE ratio of 26.23 and a beta of 0.58. The stock has a 50 day moving average price of $49.78 and a 200 day moving average price of $47.63. KMG Chemicals has a 1-year low of $25.87 and a 1-year high of $61.10.
KMG Chemicals (NYSE:KMG) last released its quarterly earnings results on Friday, June 9th. The specialty chemicals company reported $0.53 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.06. KMG Chemicals had a return on equity of 15.66% and a net margin of 7.05%. The business had revenue of $81.60 million for the quarter, compared to analysts’ expectations of $79.78 million. During the same quarter in the previous year, the firm posted $0.41 earnings per share. The company’s revenue was up 8.5% compared to the same quarter last year. Analysts anticipate that KMG Chemicals will post $2.09 earnings per share for the current fiscal year.
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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