Stone Ridge Asset Management LLC bought a new stake in KMG Chemicals, Inc. (NYSE:KMG) in the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 11,122 shares of the specialty chemicals company’s stock, valued at approximately $735,000. Stone Ridge Asset Management LLC owned approximately 0.07% of KMG Chemicals at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. BlackRock Inc. grew its position in KMG Chemicals by 44.5% in the 4th quarter. BlackRock Inc. now owns 836,301 shares of the specialty chemicals company’s stock valued at $55,262,000 after acquiring an additional 257,589 shares in the last quarter. Wells Fargo & Company MN grew its position in KMG Chemicals by 110.6% in the 4th quarter. Wells Fargo & Company MN now owns 658,289 shares of the specialty chemicals company’s stock valued at $43,500,000 after acquiring an additional 345,726 shares in the last quarter. Renaissance Technologies LLC grew its position in KMG Chemicals by 22.4% in the 4th quarter. Renaissance Technologies LLC now owns 514,500 shares of the specialty chemicals company’s stock valued at $33,998,000 after acquiring an additional 94,300 shares in the last quarter. Lazard Asset Management LLC acquired a new position in KMG Chemicals in the 4th quarter valued at about $26,227,000. Finally, Victory Capital Management Inc. grew its position in KMG Chemicals by 12,127.5% in the 4th quarter. Victory Capital Management Inc. now owns 345,549 shares of the specialty chemicals company’s stock valued at $22,834,000 after acquiring an additional 342,723 shares in the last quarter. 81.01% of the stock is owned by institutional investors.
In other news, major shareholder David L. Hatcher sold 15,000 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $57.40, for a total transaction of $861,000.00. Following the completion of the transaction, the insider now directly owns 896,097 shares of the company’s stock, valued at $51,435,967.80. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder David L. Hatcher sold 45,000 shares of the business’s stock in a transaction dated Thursday, December 28th. The stock was sold at an average price of $66.12, for a total value of $2,975,400.00. Following the transaction, the insider now directly owns 1,358,097 shares of the company’s stock, valued at $89,797,373.64. The disclosure for this sale can be found here. Over the last three months, insiders have sold 591,000 shares of company stock valued at $37,102,440. Corporate insiders own 6.10% of the company’s stock.
Several equities analysts have weighed in on KMG shares. ValuEngine downgraded KMG Chemicals from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. KeyCorp reaffirmed a “buy” rating and issued a $70.00 target price (up from $63.00) on shares of KMG Chemicals in a research report on Wednesday, December 13th. Zacks Investment Research raised KMG Chemicals from a “sell” rating to a “hold” rating and set a $70.00 target price for the company in a research report on Thursday, December 14th. Finally, Goldman Sachs started coverage on KMG Chemicals in a research report on Monday, January 22nd. They issued a “neutral” rating and a $73.00 target price for the company. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. KMG Chemicals presently has an average rating of “Hold” and an average target price of $73.67.
KMG Chemicals stock opened at $65.14 on Thursday. KMG Chemicals, Inc. has a 52-week low of $39.64 and a 52-week high of $70.60. The company has a market capitalization of $991.67, a PE ratio of 20.88 and a beta of 0.37. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.89 and a current ratio of 2.95.
KMG Chemicals (NYSE:KMG) last announced its quarterly earnings data on Thursday, March 8th. The specialty chemicals company reported $1.04 EPS for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.32. KMG Chemicals had a return on equity of 15.69% and a net margin of 10.59%. The business had revenue of $113.90 million during the quarter, compared to the consensus estimate of $112.57 million. During the same period in the previous year, the company posted $0.57 earnings per share. The business’s revenue for the quarter was up 44.0% on a year-over-year basis. research analysts predict that KMG Chemicals, Inc. will post 3.54 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 19th. Stockholders of record on Monday, March 12th were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.18%. The ex-dividend date of this dividend was Friday, March 9th. KMG Chemicals’s dividend payout ratio is presently 4.04%.
KMG Chemicals 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.
Want to see what other hedge funds are holding KMG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for KMG Chemicals, Inc. (NYSE:KMG).
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.