Zacks: KMG Chemicals, Inc. (KMG) Given Average Rating of “Strong Buy” by Analysts
Shares of KMG Chemicals, Inc. (NYSE:KMG) have been assigned a consensus broker rating score of 1.00 (Strong Buy) from the two brokers that cover the stock, Zacks Investment Research reports. Two research analysts have rated the stock with a strong buy rating.
Analysts have set a 12 month consensus target price of $52.00 for the company and are predicting that the company will post $0.79 EPS for the current quarter, according to Zacks. Zacks has also assigned KMG Chemicals an industry rank of 71 out of 265 based on the ratings given to its competitors.
Several equities analysts recently weighed in on the stock. Zacks Investment Research lowered shares of KMG Chemicals from a “buy” rating to a “hold” rating in a research report on Tuesday, August 15th. BidaskClub lowered shares of KMG Chemicals from a “buy” rating to a “hold” rating in a research report on Friday, July 28th.
Shares of KMG Chemicals (KMG) traded down $1.11 during mid-day trading on Friday, hitting $54.58. 118,830 shares of the company traded hands, compared to its average volume of 177,760. The company has a market cap of $813.61 million, a P/E ratio of 24.22 and a beta of 0.56. KMG Chemicals has a 1-year low of $26.57 and a 1-year high of $61.10. The company has a quick ratio of 1.64, a current ratio of 2.52 and a debt-to-equity ratio of 3.01.
KMG Chemicals (NYSE:KMG) last released its quarterly earnings data on Monday, October 16th. The specialty chemicals company reported $0.69 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.16. The firm had revenue of $96.26 million for the quarter, compared to the consensus estimate of $96.00 million. KMG Chemicals had a net margin of 7.09% and a return on equity of 17.45%. The business’s revenue was up 27.8% on a year-over-year basis. equities research analysts anticipate that KMG Chemicals will post 3.12 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 16th. Investors of record on Tuesday, October 10th were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.22%. The ex-dividend date was Friday, October 6th. KMG Chemicals’s payout ratio is 6.25%.
In other news, major shareholder David L. Hatcher sold 9,000 shares of the business’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $49.49, for a total transaction of $445,410.00. Following the sale, the insider now owns 1,655,097 shares in the company, valued at approximately $81,910,750.53. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder David L. Hatcher sold 3,000 shares of KMG Chemicals stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $47.18, for a total value of $141,540.00. Following the completion of the transaction, the insider now directly owns 1,610,097 shares of the company’s stock, valued at approximately $75,964,376.46. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 252,000 shares of company stock worth $12,893,220. 6.90% of the stock is owned by insiders.
A number of large investors have recently modified their holdings of the business. WESPAC Advisors SoCal LLC purchased a new position in KMG Chemicals in the 3rd quarter worth about $554,000. Morgan Dempsey Capital Management LLC grew its stake in shares of KMG Chemicals by 3.3% during the 3rd quarter. Morgan Dempsey Capital Management LLC now owns 37,762 shares of the specialty chemicals company’s stock valued at $2,037,000 after acquiring an additional 1,192 shares during the period. Hodges Capital Management Inc. bought a new position in shares of KMG Chemicals during the 3rd quarter valued at approximately $221,000. Prudential Financial Inc. grew its stake in shares of KMG Chemicals by 49.3% during the 3rd quarter. Prudential Financial Inc. now owns 75,508 shares of the specialty chemicals company’s stock valued at $4,144,000 after acquiring an additional 24,930 shares during the period. Finally, IndexIQ Advisors LLC grew its stake in shares of KMG Chemicals by 83.2% during the 3rd quarter. IndexIQ Advisors LLC now owns 18,814 shares of the specialty chemicals company’s stock valued at $1,033,000 after acquiring an additional 8,544 shares during the period. 58.43% of the stock is owned by institutional investors and hedge funds.
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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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