DLD Asset Management LP Acquires New Stake in KMG Chemicals, Inc. (KMG)

DLD Asset Management LP acquired a new position in shares of KMG Chemicals, Inc. (NYSE:KMG) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 79,400 shares of the specialty chemicals company’s stock, valued at approximately $5,999,000. DLD Asset Management LP owned approximately 0.51% of KMG Chemicals as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Wells Fargo & Company MN grew its stake in KMG Chemicals by 7.9% during the 2nd quarter. Wells Fargo & Company MN now owns 888,300 shares of the specialty chemicals company’s stock worth $65,539,000 after purchasing an additional 65,116 shares in the last quarter. First Trust Advisors LP lifted its holdings in KMG Chemicals by 310.4% during the 2nd quarter. First Trust Advisors LP now owns 47,578 shares of the specialty chemicals company’s stock worth $3,510,000 after buying an additional 35,986 shares during the last quarter. Sei Investments Co. lifted its holdings in KMG Chemicals by 391.8% during the 2nd quarter. Sei Investments Co. now owns 13,147 shares of the specialty chemicals company’s stock worth $970,000 after buying an additional 10,474 shares during the last quarter. Engineers Gate Manager LP lifted its holdings in KMG Chemicals by 361.6% during the 2nd quarter. Engineers Gate Manager LP now owns 39,593 shares of the specialty chemicals company’s stock worth $2,921,000 after buying an additional 31,015 shares during the last quarter. Finally, Rhumbline Advisers lifted its holdings in KMG Chemicals by 19.7% during the 2nd quarter. Rhumbline Advisers now owns 14,639 shares of the specialty chemicals company’s stock worth $1,080,000 after buying an additional 2,409 shares during the last quarter. 83.98% of the stock is owned by institutional investors.

KMG Chemicals stock opened at $76.14 on Tuesday. KMG Chemicals, Inc. has a fifty-two week low of $50.67 and a fifty-two week high of $79.35. The company has a quick ratio of 1.71, a current ratio of 2.62 and a debt-to-equity ratio of 0.74. The stock has a market capitalization of $1.18 billion, a PE ratio of 17.58, a PEG ratio of 0.58 and a beta of 0.48.

KMG Chemicals (NYSE:KMG) last posted its earnings results on Thursday, October 18th. The specialty chemicals company reported $1.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.98 by $0.28. KMG Chemicals had a return on equity of 16.69% and a net margin of 13.93%. On average, equities research analysts expect that KMG Chemicals, Inc. will post 4.64 EPS for the current year.

KMG has been the subject of a number of recent analyst reports. Zacks Investment Research raised KMG Chemicals from a “hold” rating to a “buy” rating and set a $85.00 price target for the company in a report on Thursday, October 4th. ValuEngine downgraded KMG Chemicals from a “buy” rating to a “hold” rating in a report on Thursday, November 1st. Gabelli downgraded KMG Chemicals from a “buy” rating to a “hold” rating in a report on Thursday, August 16th. Seaport Global Securities downgraded KMG Chemicals from a “buy” rating to a “neutral” rating in a report on Friday, September 14th. Finally, Fraser Mackenzie reaffirmed a “buy” rating on shares of KMG Chemicals in a report on Friday, November 2nd. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $76.00.

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KMG Chemicals Profile

KMG Chemicals, Inc, through its subsidiaries, manufactures, formulates, and distributes specialty chemicals and performance materials worldwide. The company's Electronic Chemicals segment is involved in the sale of high purity process chemicals primarily to etch and clean silicon wafers in the production of semiconductors, photovoltaics, and flat panel displays.

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

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