Voya Investment Management LLC Acquires 458 Shares of KMG Chemicals, Inc. (KMG)
Voya Investment Management LLC grew its holdings in KMG Chemicals, Inc. (NYSE:KMG) by 8.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,213 shares of the specialty chemicals company’s stock after purchasing an additional 458 shares during the quarter. Voya Investment Management LLC owned approximately 0.05% of KMG Chemicals worth $302,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Wells Fargo & Company MN boosted its stake in KMG Chemicals by 2,650.2% during the 2nd quarter. Wells Fargo & Company MN now owns 295,319 shares of the specialty chemicals company’s stock worth $14,373,000 after acquiring an additional 284,581 shares during the last quarter. Acadian Asset Management LLC boosted its stake in KMG Chemicals by 108.7% during the 2nd quarter. Acadian Asset Management LLC now owns 402,356 shares of the specialty chemicals company’s stock worth $19,582,000 after acquiring an additional 209,577 shares during the last quarter. EAM Investors LLC bought a new position in KMG Chemicals during the 2nd quarter worth approximately $3,533,000. AJO LP bought a new position in KMG Chemicals during the 2nd quarter worth approximately $2,689,000. Finally, ClariVest Asset Management LLC bought a new position in KMG Chemicals during the 2nd quarter worth approximately $2,604,000. 57.67% of the stock is currently owned by institutional investors.
In other KMG Chemicals news, major shareholder David L. Hatcher sold 9,000 shares of KMG Chemicals stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $47.40, for a total value of $426,600.00. Following the transaction, the insider now owns 1,625,097 shares of the company’s stock, valued at $77,029,597.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder David L. Hatcher sold 3,000 shares of KMG Chemicals stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $47.71, for a total transaction of $143,130.00. Following the completion of the transaction, the insider now directly owns 1,631,097 shares in the company, valued at approximately $77,819,637.87. The disclosure for this sale can be found here. In the last ninety days, insiders sold 231,000 shares of company stock worth $11,916,930. Insiders own 6.10% of the company’s stock.
Several research analysts recently weighed in on KMG shares. BidaskClub lowered shares of KMG Chemicals from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Zacks Investment Research lowered shares of KMG Chemicals from a “hold” rating to a “sell” rating in a research note on Tuesday, October 31st.
KMG Chemicals, Inc. (NYSE KMG) opened at $52.44 on Wednesday. KMG Chemicals, Inc. has a one year low of $30.90 and a one year high of $61.10. The firm has a market cap of $834.97, a P/E ratio of 23.94 and a beta of 0.56. The company has a debt-to-equity ratio of 3.01, a quick ratio of 1.64 and a current ratio of 2.52.
KMG Chemicals (NYSE:KMG) last released its quarterly earnings data on Monday, October 16th. The specialty chemicals company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.16. KMG Chemicals had a net margin of 7.09% and a return on equity of 17.45%. The business had revenue of $96.26 million for the quarter, compared to analyst estimates of $96.00 million. The business’s revenue was up 27.8% compared to the same quarter last year. analysts forecast that KMG Chemicals, Inc. will post 2.77 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Tuesday, October 10th were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.23%. The ex-dividend date of this dividend was Friday, October 6th. KMG Chemicals’s payout ratio is currently 6.25%.
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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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