KMG Chemicals Inc. (NYSE:KMG) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Monday.
According to Zacks, “KMG Chemicals manufactures, markets and distributes specialty, niche chemicals. The company manufactures, markets and distributes three wood preserving chemicals, pentachlorophenol, creosote and sodium pentachlorophenate, to industrial customers engaged in the wood preserving business. The company’s customers use these preservatives to treat wood and supply the treated wood products to end-users in a variety of industries, principally the railroad, utility and construction industries. “
Shares of KMG Chemicals (NYSE:KMG) opened at 29.25 on Monday. The company has a market capitalization of $343.25 million, a PE ratio of 19.11 and a beta of 0.67. KMG Chemicals has a one year low of $18.87 and a one year high of $30.14. The stock has a 50 day moving average price of $27.91 and a 200 day moving average price of $25.73.
KMG Chemicals (NYSE:KMG) last announced its quarterly earnings results on Thursday, October 13th. The company reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.40 by $0.02. The company had revenue of $75.30 million for the quarter. KMG Chemicals had a return on equity of 14.40% and a net margin of 6.27%. On average, equities research analysts predict that KMG Chemicals will post $1.65 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, October 18th. Stockholders of record on Tuesday, October 11th were paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.41%. The ex-dividend date of this dividend was Thursday, October 6th. KMG Chemicals’s payout ratio is currently 7.69%.
Large investors have recently bought and sold shares of the company. BlackRock Advisors LLC raised its stake in KMG Chemicals by 1.3% in the second quarter. BlackRock Advisors LLC now owns 4,789 shares of the company’s stock valued at $124,000 after buying an additional 61 shares during the last quarter. Rhumbline Advisers raised its stake in KMG Chemicals by 3.2% in the second quarter. Rhumbline Advisers now owns 12,744 shares of the company’s stock valued at $331,000 after buying an additional 392 shares during the last quarter. Youngs Advisory Group Inc. raised its stake in KMG Chemicals by 2.5% in the second quarter. Youngs Advisory Group Inc. now owns 27,607 shares of the company’s stock valued at $718,000 after buying an additional 685 shares during the last quarter. Geode Capital Management LLC raised its stake in KMG Chemicals by 1.3% in the first quarter. Geode Capital Management LLC now owns 52,391 shares of the company’s stock valued at $1,208,000 after buying an additional 690 shares during the last quarter. Finally, Acrospire Investment Management LLC raised its stake in KMG Chemicals by 65.5% in the second quarter. Acrospire Investment Management LLC now owns 5,027 shares of the company’s stock valued at $131,000 after buying an additional 1,989 shares during the last quarter. 68.92% of the stock is currently owned by institutional investors and hedge funds.
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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