Horizon Investment Services LLC purchased a new position in shares of KMG Chemicals, Inc. (NYSE:KMG) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 9,640 shares of the specialty chemicals company’s stock, valued at approximately $637,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Ramsey Quantitative Systems acquired a new stake in shares of KMG Chemicals during the fourth quarter worth $138,000. Victory Capital Management Inc. acquired a new stake in shares of KMG Chemicals during the third quarter worth $155,000. IPG Investment Advisors LLC acquired a new stake in shares of KMG Chemicals during the fourth quarter worth $247,000. Hodges Capital Management Inc. acquired a new stake in shares of KMG Chemicals during the third quarter worth $221,000. Finally, Teacher Retirement System of Texas acquired a new stake in shares of KMG Chemicals during the fourth quarter worth $290,000. 70.83% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts recently weighed in on the company. Zacks Investment Research downgraded KMG Chemicals from a “buy” rating to a “hold” rating in a report on Wednesday, February 14th. KeyCorp reaffirmed a “buy” rating and set a $70.00 price target (up from $63.00) on shares of KMG Chemicals in a report on Wednesday, December 13th. ValuEngine cut KMG Chemicals from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Finally, Goldman Sachs Group began coverage on KMG Chemicals in a research 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, three have assigned a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $71.00.
KMG Chemicals (NYSE:KMG) last released its quarterly earnings data on Monday, December 11th. The specialty chemicals company reported $0.83 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.20. The firm had revenue of $110.70 million during the quarter, compared to analysts’ expectations of $106.60 million. KMG Chemicals had a return on equity of 15.41% and a net margin of 6.46%. The company’s revenue was up 44.7% compared to the same quarter last year. equities analysts expect that KMG Chemicals, Inc. will post 3.17 EPS for the current fiscal year.
In other KMG Chemicals news, major shareholder David L. Hatcher sold 6,000 shares of the stock in a transaction on Friday, December 1st. The stock was sold at an average price of $54.34, for a total value of $326,040.00. Following the completion of the transaction, the insider now owns 1,412,097 shares in the company, valued at $76,733,350.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder David L. Hatcher sold 9,000 shares of the stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $53.44, for a total value of $480,960.00. Following the completion of the transaction, the insider now owns 1,406,097 shares of the company’s stock, valued at approximately $75,141,823.68. The disclosure for this sale can be found here. Insiders sold 639,000 shares of company stock valued at $39,931,350 in the last quarter. 6.10% of the stock is currently owned by company insiders.
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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