BidaskClub upgraded shares of KMG Chemicals, Inc. (NYSE:KMG) from a hold rating to a buy rating in a research report released on Tuesday.
Separately, Gabelli upgraded shares of KMG Chemicals from a hold rating to a buy rating in a report on Monday, May 1st.
KMG Chemicals (KMG) traded up 0.39% during midday trading on Tuesday, hitting $51.60. 68,226 shares of the stock traded hands. The stock’s 50-day moving average price is $53.53 and its 200 day moving average price is $44.45. The company has a market capitalization of $613.47 million, a price-to-earnings ratio of 28.30 and a beta of 0.58. KMG Chemicals has a 52 week low of $25.87 and a 52 week high of $61.10.
KMG Chemicals (NYSE:KMG) last posted its quarterly earnings results on Friday, June 9th. The specialty chemicals company reported $0.53 EPS for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.06. KMG Chemicals had a net margin of 7.05% and a return on equity of 15.66%. The company had revenue of $81.60 million during the quarter, compared to analyst estimates of $79.78 million. During the same period in the prior year, the business posted $0.41 EPS. The firm’s revenue was up 8.5% compared to the same quarter last year. On average, equities research analysts predict that KMG Chemicals will post $2.09 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 23rd. Shareholders of record on Tuesday, June 13th were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.23%. The ex-dividend date was Friday, June 9th. KMG Chemicals’s payout ratio is currently 6.67%.
In related news, insider Christopher T. Fraser acquired 4,000 shares of KMG Chemicals stock in a transaction on Thursday, June 22nd. The shares were acquired at an average cost of $46.99 per share, with a total value of $187,960.00. Following the transaction, the insider now owns 173,043 shares in the company, valued at $8,131,290.57. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder David L. Hatcher sold 6,000 shares of the business’s stock in a transaction on Friday, July 14th. The shares were sold at an average price of $50.79, for a total transaction of $304,740.00. Following the transaction, the insider now directly owns 1,706,097 shares in the company, valued at $86,652,666.63. The disclosure for this sale can be found here. Over the last three months, insiders have sold 153,000 shares of company stock worth $7,686,510. Insiders own 6.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Creative Planning bought a new position in shares of KMG Chemicals during the second quarter worth about $105,000. Russell Investments Group Ltd. increased its stake in KMG Chemicals by 28.8% in the first quarter. Russell Investments Group Ltd. now owns 3,481 shares of the specialty chemicals company’s stock worth $160,000 after buying an additional 778 shares in the last quarter. AXA acquired a new stake in KMG Chemicals during the first quarter worth $208,000. State Board of Administration of Florida Retirement System acquired a new stake in KMG Chemicals during the first quarter worth $209,000. Finally, Highbridge Capital Management LLC acquired a new stake in KMG Chemicals during the first quarter worth $230,000. 70.00% of the stock is currently 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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