KMG Chemicals, Inc. (KMG) Coverage Initiated by Analysts at KeyCorp
KeyCorp began coverage on shares of KMG Chemicals, Inc. (NYSE:KMG) in a research note issued to investors on Tuesday. The brokerage issued an overweight rating and a $63.00 target price on the specialty chemicals company’s stock.
Several other brokerages have also commented on KMG. Zacks Investment Research lowered KMG Chemicals from a hold rating to a sell rating in a report on Tuesday, October 31st. BidaskClub lowered KMG Chemicals from a buy rating to a hold rating in a report on Friday, July 28th.
Shares of KMG Chemicals (NYSE:KMG) opened at $54.68 on Tuesday. The company has a market capitalization of $805.01, a PE ratio of 23.08 and a beta of 0.56. KMG Chemicals has a 1-year low of $32.05 and a 1-year high of $61.10. The company has a current ratio of 2.52, a quick ratio of 1.64 and a debt-to-equity ratio of 3.01.
KMG Chemicals (NYSE:KMG) last issued its quarterly earnings data on Monday, October 16th. The specialty chemicals company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.53 by $0.16. KMG Chemicals had a return on equity of 17.45% and a net margin of 7.09%. The company had revenue of $96.26 million for the quarter, compared to analyst estimates of $96.00 million. KMG Chemicals’s revenue was up 27.8% on a year-over-year basis. analysts predict that KMG Chemicals will post 2.77 EPS for the current year.
In other news, major shareholder David L. Hatcher sold 3,000 shares of KMG Chemicals stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $47.50, for a total value of $142,500.00. Following the sale, the insider now directly owns 1,616,097 shares of the company’s stock, valued at $76,764,607.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder David L. Hatcher sold 9,000 shares of KMG Chemicals stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $47.68, for a total value of $429,120.00. Following the completion of the sale, the insider now directly owns 1,610,097 shares in the company, valued at $76,769,424.96. The disclosure for this sale can be found here. Insiders sold 228,000 shares of company stock worth $11,840,490 over the last ninety days. Corporate insiders own 6.10% of the company’s stock.
Several large investors have recently modified their holdings of KMG. Creative Planning acquired a new stake in shares of KMG Chemicals in the second quarter worth approximately $105,000. Legal & General Group Plc boosted its stake in shares of KMG Chemicals by 23.2% in the second quarter. Legal & General Group Plc now owns 2,198 shares of the specialty chemicals company’s stock worth $106,000 after acquiring an additional 414 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its stake in shares of KMG Chemicals by 59.9% in the second quarter. Oppenheimer Asset Management Inc. now owns 2,620 shares of the specialty chemicals company’s stock worth $128,000 after acquiring an additional 981 shares during the last quarter. Victory Capital Management Inc. acquired a new stake in shares of KMG Chemicals in the third quarter worth approximately $155,000. Finally, Hodges Capital Management Inc. purchased a new position in KMG Chemicals during the third quarter worth approximately $221,000. 56.85% of the stock is currently owned by hedge funds and other institutional investors.
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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