Shares of KMG Chemicals, Inc. (NYSE:KMG) have been assigned an average broker rating score of 1.00 (Strong Buy) from the three analysts that provide coverage for the stock, Zacks Investment Research reports. Three investment analysts have rated the stock with a strong buy rating.
Brokerages have set a 1 year consensus price objective of $72.00 for the company and are anticipating that the company will post $0.72 EPS for the current quarter, according to Zacks. Zacks has also assigned KMG Chemicals an industry rank of 117 out of 265 based on the ratings given to related companies.
KMG has been the subject of several recent analyst reports. KeyCorp initiated coverage on shares of KMG Chemicals in a research report on Tuesday, November 21st. They issued an “overweight” rating and a $63.00 target price for the company. Zacks Investment Research upgraded shares of KMG Chemicals from a “sell” rating to a “hold” rating and set a $70.00 price objective for the company in a report on Thursday, December 14th. Finally, ValuEngine cut shares of KMG Chemicals from a “buy” rating to a “hold” rating in a report on Friday, December 1st.
KMG Chemicals (KMG) traded down $0.78 during midday trading on Friday, reaching $66.08. 148,893 shares of the company’s stock traded hands, compared to its average volume of 201,925. KMG Chemicals has a 1 year low of $36.29 and a 1 year high of $68.13. The company has a current ratio of 2.87, a quick ratio of 1.92 and a debt-to-equity ratio of 0.99. The company has a market cap of $1,020.00, a PE ratio of 34.60 and a beta of 0.55.
KMG Chemicals (NYSE:KMG) last posted its earnings results on Monday, December 11th. The specialty chemicals company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.63 by $0.20. KMG Chemicals had a net margin of 6.46% and a return on equity of 15.41%. The firm had revenue of $110.70 million during the quarter, compared to analysts’ expectations of $106.60 million. The business’s revenue for the quarter was up 44.7% on a year-over-year basis. equities research analysts anticipate that KMG Chemicals will post 3.17 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 5th. Stockholders of record on Friday, December 22nd will be issued a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.18%. The ex-dividend date is Thursday, December 21st. KMG Chemicals’s dividend payout ratio (DPR) is presently 6.28%.
In related news, major shareholder David L. Hatcher sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 5th. The shares were sold at an average price of $53.53, for a total transaction of $160,590.00. Following the completion of the sale, the insider now directly owns 1,532,097 shares in the company, valued at $82,013,152.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder David L. Hatcher sold 9,000 shares of the firm’s stock in a transaction that occurred on Friday, October 6th. The stock was sold at an average price of $53.83, for a total transaction of $484,470.00. The disclosure for this sale can be found here. Insiders sold 261,000 shares of company stock valued at $15,154,950 over the last quarter. Insiders own 6.10% of the company’s stock.
A number of large investors have recently modified their holdings of KMG. Russell Investments Group Ltd. boosted its holdings in 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. Schwab Charles Investment Management Inc. boosted its holdings in KMG Chemicals by 29.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 18,400 shares of the specialty chemicals company’s stock worth $896,000 after buying an additional 4,200 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in KMG Chemicals by 46.6% during the second quarter. Bank of New York Mellon Corp now owns 82,928 shares of the specialty chemicals company’s stock worth $4,036,000 after buying an additional 26,367 shares in the last quarter. Legal & General Group Plc boosted its holdings in KMG Chemicals by 23.2% during the second quarter. Legal & General Group Plc now owns 2,198 shares of the specialty chemicals company’s stock worth $106,000 after buying an additional 414 shares in the last quarter. Finally, Federated Investors Inc. PA boosted its holdings in KMG Chemicals by 167.6% during the second quarter. Federated Investors Inc. PA now owns 32,445 shares of the specialty chemicals company’s stock worth $1,579,000 after buying an additional 20,321 shares in the last quarter. Hedge funds and other institutional investors own 56.17% of the company’s stock.
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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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