KMG Chemicals, Inc. (NYSE:KMG) VP Ernest C. Kremling II sold 1,850 shares of the business’s stock in a transaction that occurred on Thursday, March 16th. The stock was sold at an average price of $42.85, for a total value of $79,272.50. Following the transaction, the vice president now owns 33,299 shares of the company’s stock, valued at $1,426,862.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Shares of KMG Chemicals, Inc. (NYSE:KMG) traded down 0.81% during trading on Monday, hitting $42.87. The stock had a trading volume of 95,748 shares. The stock has a market cap of $509.60 million, a price-to-earnings ratio of 23.16 and a beta of 0.63. The stock’s 50-day moving average price is $38.09 and its 200 day moving average price is $33.62. KMG Chemicals, Inc. has a one year low of $20.85 and a one year high of $44.77.
KMG Chemicals (NYSE:KMG) last announced its quarterly earnings data on Monday, March 13th. The company reported $0.57 EPS for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.15. The business earned $79.10 million during the quarter, compared to analyst estimates of $73.70 million. KMG Chemicals had a net margin of 6.66% and a return on equity of 14.25%. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. On average, equities analysts forecast that KMG Chemicals, Inc. will post $2.03 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 17th. Stockholders of record on Friday, March 10th were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date of this dividend was Wednesday, March 8th. KMG Chemicals’s dividend payout ratio is currently 7.32%.
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Several hedge funds and other institutional investors have recently made changes to their positions in KMG. Brown Advisory Inc. raised its position in KMG Chemicals by 3.6% in the fourth quarter. Brown Advisory Inc. now owns 346,970 shares of the company’s stock valued at $13,495,000 after buying an additional 11,907 shares during the period. Trexquant Investment LP acquired a new position in KMG Chemicals during the fourth quarter valued at about $266,000. Martingale Asset Management L P raised its position in KMG Chemicals by 53.7% in the fourth quarter. Martingale Asset Management L P now owns 60,433 shares of the company’s stock valued at $2,351,000 after buying an additional 21,116 shares during the period. Dimensional Fund Advisors LP raised its position in KMG Chemicals by 4.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 539,465 shares of the company’s stock valued at $20,980,000 after buying an additional 25,228 shares during the period. Finally, State Street Corp raised its position in KMG Chemicals by 3.0% in the fourth quarter. State Street Corp now owns 139,844 shares of the company’s stock valued at $5,439,000 after buying an additional 4,038 shares during the period. 68.39% of the stock is owned by institutional investors and hedge funds.
KMG has been the subject of several analyst reports. Gabelli downgraded KMG Chemicals from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $39.00 to $37.00 in a research report on Wednesday, December 14th. Zacks Investment Research upgraded KMG Chemicals from a “sell” rating to a “buy” rating and set a $41.00 price objective for the company in a research report on Thursday, December 15th.
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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