Media coverage about KMG Chemicals (NYSE:KMG) has trended somewhat positive on Monday, according to Accern. The research firm ranks the sentiment of news coverage by analyzing more than 20 million blog and news sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. KMG Chemicals earned a news sentiment score of 0.12 on Accern’s scale. Accern also assigned news articles about the specialty chemicals company an impact score of 45.2740059884572 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the next few days.
These are some of the news articles that may have effected Accern’s scoring:
- Wood Preservative Chemicals Market: Global Industry Analysis and Forecast- 2023 (openpr.com)
- BidaskClub Lowers KMG Chemicals (KMG) to Sell (americanbankingnews.com)
- Electronic Chemicals & Materials Market : Future Demand, Market Analysis & Outlook to 2023 (mynewsdesk.com)
- KMG Chemicals (KMG) Downgraded to “Hold” at Zacks Investment Research (americanbankingnews.com)
A number of research firms have recently weighed in on KMG. Zacks Investment Research raised shares of KMG Chemicals from a “hold” rating to a “buy” rating and set a $78.00 target price for the company in a research report on Wednesday, March 14th. ValuEngine downgraded shares of KMG Chemicals from a “buy” rating to a “hold” rating in a report on Tuesday, March 13th. Finally, Goldman Sachs began coverage on shares of KMG Chemicals in a report on Monday, January 22nd. They issued a “neutral” rating and a $73.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $73.67.
KMG Chemicals (NYSE:KMG) last released its quarterly earnings data on Thursday, March 8th. The specialty chemicals company reported $1.04 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.32. The company had revenue of $113.90 million during the quarter, compared to the consensus estimate of $112.57 million. KMG Chemicals had a net margin of 10.59% and a return on equity of 15.69%. KMG Chemicals’s revenue for the quarter was up 44.0% on a year-over-year basis. During the same period last year, the firm earned $0.57 EPS. equities analysts expect that KMG Chemicals will post 3.54 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 19th. Investors of record on Monday, March 12th were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.19%. The ex-dividend date of this dividend was Friday, March 9th. KMG Chemicals’s dividend payout ratio (DPR) is presently 5.29%.
In other KMG Chemicals news, major shareholder David L. Hatcher sold 15,000 shares of the stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $64.42, for a total value of $966,300.00. Following the sale, the insider now directly owns 1,121,097 shares in the company, valued at approximately $72,221,068.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder David L. Hatcher sold 45,000 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $57.74, for a total transaction of $2,598,300.00. Following the completion of the sale, the insider now owns 896,097 shares in the company, valued at $51,740,640.78. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 345,000 shares of company stock valued at $20,976,300. 6.10% of the stock is owned by insiders.
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About KMG Chemicals
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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