KMG Chemicals, Inc. (KMG) Shares Bought by Vanguard Group Inc.
Vanguard Group Inc. raised its holdings in shares of KMG Chemicals, Inc. (NYSE:KMG) by 10.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 376,332 shares of the specialty chemicals company’s stock after buying an additional 34,875 shares during the quarter. Vanguard Group Inc. owned about 3.17% of KMG Chemicals worth $18,316,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Creative Planning acquired a new position in shares of KMG Chemicals during the second quarter worth approximately $105,000. Legal & General Group Plc raised its stake in shares of KMG Chemicals by 23.2% in the second quarter. Legal & General Group Plc now owns 2,198 shares of the specialty chemicals company’s stock valued at $106,000 after purchasing an additional 414 shares in the last quarter. Oppenheimer Asset Management Inc. raised its stake in shares of KMG Chemicals by 59.9% in the second quarter. Oppenheimer Asset Management Inc. now owns 2,620 shares of the specialty chemicals company’s stock valued at $128,000 after purchasing an additional 981 shares in the last quarter. KCG Holdings Inc. acquired a new position in shares of KMG Chemicals in the first quarter valued at $236,000. Finally, American International Group Inc. raised its stake in shares of KMG Chemicals by 7.0% in the first quarter. American International Group Inc. now owns 5,547 shares of the specialty chemicals company’s stock valued at $256,000 after purchasing an additional 365 shares in the last quarter. Institutional investors own 57.67% of the company’s stock.
In other KMG Chemicals news, major shareholder David L. Hatcher sold 3,000 shares of the stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $47.18, for a total transaction of $141,540.00. Following the completion of the transaction, the insider now directly owns 1,610,097 shares in the company, valued at $75,964,376.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder David L. Hatcher sold 9,000 shares of the stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $52.39, for a total value of $471,510.00. The disclosure for this sale can be found here. Insiders sold 231,000 shares of company stock valued at $11,959,590 over the last 90 days. 6.10% of the stock is currently owned by corporate insiders.
KMG Chemicals, Inc. (NYSE KMG) opened at $51.67 on Friday. The company has a debt-to-equity ratio of 3.01, a current ratio of 2.52 and a quick ratio of 1.64. The company has a market capitalization of $781.96, a price-to-earnings ratio of 22.42 and a beta of 0.56. KMG Chemicals, Inc. has a 12 month low of $31.46 and a 12 month high of $61.10.
KMG Chemicals (NYSE:KMG) last issued its earnings results on Monday, October 16th. The specialty chemicals company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.16. The business had revenue of $96.26 million during the quarter, compared to analyst estimates of $96.00 million. KMG Chemicals had a return on equity of 17.45% and a net margin of 7.09%. The firm’s revenue was up 27.8% compared to the same quarter last year. research analysts predict that KMG Chemicals, Inc. will post 2.77 EPS for the current fiscal year.
A number of brokerages recently commented on KMG. BidaskClub lowered KMG Chemicals from a “hold” rating to a “sell” rating in a research note on Thursday, August 3rd. Zacks Investment Research lowered KMG Chemicals from a “buy” rating to a “hold” rating in a research note on Tuesday, August 15th.
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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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