KMG Chemicals, Inc. (KMG) Cut to Hold at BidaskClub
BidaskClub cut shares of KMG Chemicals, Inc. (NYSE:KMG) from a buy rating to a hold rating in a report published on Friday morning.
Separately, Gabelli raised KMG Chemicals from a hold rating to a buy rating in a report on Monday, May 1st.
Shares of KMG Chemicals (NYSE KMG) traded down 0.22% on Friday, reaching $50.51. 10,087 shares of the company’s stock were exchanged. KMG Chemicals has a one year low of $25.87 and a one year high of $61.10. The firm has a market cap of $600.51 million, a PE ratio of 27.71 and a beta of 0.58. The company has a 50 day moving average price of $49.87 and a 200 day moving average price of $46.35.
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, topping the Zacks’ consensus estimate of $0.47 by $0.06. The company had revenue of $81.60 million for the quarter, compared to analysts’ expectations of $79.78 million. KMG Chemicals had a return on equity of 15.66% and a net margin of 7.05%. The firm’s revenue was up 8.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.41 EPS. Analysts expect that KMG Chemicals will post $2.09 EPS for the current fiscal year.
In other news, insider Christopher T. Fraser acquired 4,000 shares of the firm’s 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 acquisition, the insider now directly owns 173,043 shares of the company’s stock, valued at $8,131,290.57. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Jeffrey S. Handelman acquired 2,000 shares of the firm’s stock in a transaction dated Friday, June 16th. The shares were purchased at an average cost of $48.50 per share, for a total transaction of $97,000.00. Following the completion of the acquisition, the senior vice president now directly owns 2,000 shares in the company, valued at $97,000. The disclosure for this purchase can be found here. Insiders have sold a total of 171,000 shares of company stock worth $8,765,670 over the last ninety days. Insiders own 6.90% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Creative Planning acquired a new position in KMG Chemicals during the second quarter worth $105,000. Russell Investments Group Ltd. increased its position 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 during the period. AXA acquired a new position in KMG Chemicals during the first quarter worth $208,000. State Board of Administration of Florida Retirement System acquired a new position in KMG Chemicals during the first quarter worth $209,000. Finally, Highbridge Capital Management LLC acquired a new position in KMG Chemicals during the first quarter worth $230,000. 71.89% 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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