California Public Employees Retirement System Sells 1,300 Shares of KMG Chemicals, Inc. (NYSE:KMG)

California Public Employees Retirement System reduced its stake in KMG Chemicals, Inc. (NYSE:KMG) by 3.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,900 shares of the specialty chemicals company’s stock after selling 1,300 shares during the period. California Public Employees Retirement System owned approximately 0.35% of KMG Chemicals worth $1,930,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Prudential Financial Inc. bought a new position in shares of KMG Chemicals during the first quarter valued at approximately $1,784,000. Acadian Asset Management LLC raised its position in shares of KMG Chemicals by 24.3% in the first quarter. Acadian Asset Management LLC now owns 192,779 shares of the specialty chemicals company’s stock valued at $8,881,000 after buying an additional 37,679 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of KMG Chemicals by 4.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 539,465 shares of the specialty chemicals company’s stock valued at $20,980,000 after buying an additional 25,228 shares during the last quarter. O Shaughnessy Asset Management LLC acquired a new position in shares of KMG Chemicals during the first quarter valued at about $1,055,000. Finally, Hillsdale Investment Management Inc. raised its position in shares of KMG Chemicals by 458.3% in the first quarter. Hillsdale Investment Management Inc. now owns 26,800 shares of the specialty chemicals company’s stock valued at $1,235,000 after buying an additional 22,000 shares during the last quarter. Institutional investors and hedge funds own 72.76% of the company’s stock.

KMG Chemicals, Inc. (NYSE:KMG) opened at 47.72 on Friday. KMG Chemicals, Inc. has a 52 week low of $25.87 and a 52 week high of $61.10. The company has a market capitalization of $567.34 million, a price-to-earnings ratio of 26.18 and a beta of 0.58. The company has a 50 day moving average of $49.94 and a 200 day moving average of $47.27.

KMG Chemicals (NYSE:KMG) last released its quarterly earnings data on Friday, June 9th. The specialty chemicals company reported $0.53 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.06. KMG Chemicals had a return on equity of 15.66% and a net margin of 7.05%. The business had revenue of $81.60 million for the quarter, compared to analyst estimates of $79.78 million. During the same quarter in the prior year, the firm posted $0.41 EPS. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. On average, equities analysts forecast that KMG Chemicals, Inc. will post $2.09 EPS for the current fiscal year.

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Several research analysts recently issued reports on the stock. Zacks Investment Research lowered shares of KMG Chemicals from a “buy” rating to a “hold” rating in a research note on Tuesday. BidaskClub lowered shares of KMG Chemicals from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 12th. Finally, Gabelli upgraded shares of KMG Chemicals from a “hold” rating to a “buy” rating in a research note on Monday, May 1st.

In other news, major shareholder David L. Hatcher sold 9,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 20th. The stock was sold at an average price of $48.64, for a total transaction of $437,760.00. Following the completion of the transaction, the insider now directly owns 1,760,897 shares of the company’s stock, valued at approximately $85,650,030.08. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Christopher T. Fraser bought 4,000 shares of KMG Chemicals stock in a transaction dated 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 completion of the purchase, the insider now owns 173,043 shares in the company, valued at $8,131,290.57. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 189,000 shares of company stock worth $9,363,180. Insiders own 6.90% 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.

Institutional Ownership by Quarter for KMG Chemicals (NYSE:KMG)

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