KMG Chemicals (KMG) Lifted to “Buy” at ValuEngine
ValuEngine upgraded shares of KMG Chemicals (NYSE:KMG) from a hold rating to a buy rating in a research note released on Wednesday.
Several other research analysts also recently weighed in on KMG. KeyCorp started coverage on KMG Chemicals in a research note on Tuesday, November 21st. They issued an overweight rating and a $63.00 price target for the company. Zacks Investment Research upgraded KMG Chemicals from a sell rating to a hold rating and set a $70.00 price target for the company in a research note on Thursday, December 14th. Finally, Goldman Sachs Group started coverage on KMG Chemicals in a research note on Monday, January 22nd. They issued a neutral rating and a $73.00 price target for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $71.00.
KMG Chemicals (NYSE KMG) opened at $70.04 on Wednesday. KMG Chemicals has a 52 week low of $36.83 and a 52 week high of $70.25. The company has a quick ratio of 1.92, a current ratio of 2.87 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $1,076.65, a P/E ratio of 22.67 and a beta of 0.37.
The company also recently announced a quarterly dividend, which will be paid on Monday, March 19th. Stockholders of record on Monday, March 12th will be given a dividend of $0.03 per share. The ex-dividend date is Friday, March 9th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.17%. KMG Chemicals’s dividend payout ratio is currently 4.04%.
In other news, major shareholder David L. Hatcher sold 9,000 shares of the stock in a transaction that occurred on Wednesday, December 20th. The stock was sold at an average price of $66.85, for a total transaction of $601,650.00. Following the completion of the transaction, the insider now directly owns 1,376,097 shares in the company, valued at approximately $91,992,084.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder David L. Hatcher sold 15,000 shares of the stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $57.40, for a total value of $861,000.00. Following the transaction, the insider now owns 896,097 shares of the company’s stock, valued at $51,435,967.80. The disclosure for this sale can be found here. Insiders have sold a total of 615,000 shares of company stock valued at $38,639,820 over the last quarter. Corporate insiders own 6.10% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Earnest Partners LLC bought a new position in shares of KMG Chemicals during the 4th quarter valued at approximately $112,000. Ramsey Quantitative Systems bought a new position in shares of KMG Chemicals during the 4th quarter valued at approximately $138,000. Victory Capital Management Inc. bought a new position in shares of KMG Chemicals during the 3rd quarter valued at approximately $155,000. Hodges Capital Management Inc. bought a new position in shares of KMG Chemicals during the 3rd quarter valued at approximately $221,000. Finally, Campbell & CO Investment Adviser LLC bought a new position in shares of KMG Chemicals during the 3rd quarter valued at approximately $244,000. Hedge funds and other institutional investors own 81.01% of the company’s stock.
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
Receive News & Ratings for KMG Chemicals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KMG Chemicals and related companies with MarketBeat.com's FREE daily email newsletter.