Q2 2018 EPS Estimates for KMG Chemicals, Inc. Lifted by Seaport Global Securities (KMG)
KMG Chemicals, Inc. (NYSE:KMG) – Research analysts at Seaport Global Securities upped their Q2 2018 earnings estimates for KMG Chemicals in a report released on Tuesday. Seaport Global Securities analyst M. Harrison now forecasts that the specialty chemicals company will earn $0.79 per share for the quarter, up from their prior estimate of $0.67. Seaport Global Securities also issued estimates for KMG Chemicals’ Q3 2018 earnings at $0.81 EPS, Q4 2018 earnings at $0.84 EPS, FY2018 earnings at $3.27 EPS, Q1 2019 earnings at $0.88 EPS, Q2 2019 earnings at $0.93 EPS, Q3 2019 earnings at $0.96 EPS, Q4 2019 earnings at $0.96 EPS and FY2019 earnings at $3.72 EPS.
Several other research analysts have also weighed in on KMG. Zacks Investment Research lowered shares of KMG Chemicals from a “hold” rating to a “sell” rating in a report on Tuesday, October 31st. KeyCorp started coverage on shares of KMG Chemicals in a report on Tuesday, November 21st. They set an “overweight” rating and a $63.00 price objective on the stock. Finally, ValuEngine lowered shares of KMG Chemicals from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Two analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $53.50.
KMG Chemicals (NYSE:KMG) last released its earnings results on Monday, December 11th. The specialty chemicals company reported $0.83 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.20. The company had revenue of $110.70 million for the quarter, compared to analyst estimates of $106.60 million. KMG Chemicals had a net margin of 6.46% and a return on equity of 15.41%. The firm’s revenue for the quarter was up 44.7% on a year-over-year basis.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 5th. Investors of record on Friday, December 22nd will be given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.19%. The ex-dividend date of this dividend is Thursday, December 21st. KMG Chemicals’s dividend payout ratio (DPR) is presently 6.28%.
In other KMG Chemicals news, major shareholder David L. Hatcher sold 3,000 shares of the stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $64.65, for a total value of $193,950.00. Following the completion of the sale, the insider now owns 1,391,097 shares of the company’s stock, valued at $89,934,421.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder David L. Hatcher sold 6,000 shares of the stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $53.93, for a total transaction of $323,580.00. Following the completion of the sale, the insider now directly owns 1,397,097 shares of the company’s stock, valued at approximately $75,345,441.21. The disclosure for this sale can be found here. In the last three months, insiders have sold 219,000 shares of company stock valued at $11,728,350. Corporate insiders own 6.10% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in KMG. Vanguard Group Inc. grew its position in shares of KMG Chemicals by 6.2% during the first quarter. Vanguard Group Inc. now owns 341,457 shares of the specialty chemicals company’s stock worth $15,731,000 after buying an additional 19,856 shares in the last quarter. Geode Capital Management LLC grew its position in shares of KMG Chemicals by 2.6% during the first quarter. Geode Capital Management LLC now owns 74,167 shares of the specialty chemicals company’s stock worth $3,415,000 after buying an additional 1,878 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of KMG Chemicals by 10.5% during the first quarter. Goldman Sachs Group Inc. now owns 10,791 shares of the specialty chemicals company’s stock worth $497,000 after buying an additional 1,022 shares in the last quarter. Creative Planning acquired a new stake in shares of KMG Chemicals during the second quarter worth approximately $105,000. Finally, Russell Investments Group Ltd. grew its position in shares of KMG Chemicals by 894.2% during the second quarter. Russell Investments Group Ltd. now owns 34,609 shares of the specialty chemicals company’s stock worth $1,685,000 after buying an additional 31,128 shares in the last quarter. 56.20% of the stock is owned by institutional investors and hedge funds.
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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