ArrowMark Colorado Holdings LLC bought a new position in shares of KMG Chemicals, Inc. (NYSE:KMG) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 222,521 shares of the specialty chemicals company’s stock, valued at approximately $14,704,000.
Other institutional investors have also modified their holdings of the company. Ramsey Quantitative Systems purchased a new position in shares of KMG Chemicals during the fourth quarter worth $138,000. Victory Capital Management Inc. purchased a new position in shares of KMG Chemicals during the third quarter worth $155,000. Campbell & CO Investment Adviser LLC purchased a new position in shares of KMG Chemicals during the third quarter worth $244,000. IPG Investment Advisors LLC purchased a new position in shares of KMG Chemicals during the fourth quarter worth $247,000. Finally, Teacher Retirement System of Texas purchased a new position in shares of KMG Chemicals during the fourth quarter worth $290,000. 81.01% of the stock is owned by hedge funds and other institutional investors.
KMG has been the subject of several recent research reports. Goldman Sachs Group initiated coverage on shares of KMG Chemicals in a report on Monday, January 22nd. They set a “neutral” rating and a $73.00 target price for the company. KeyCorp initiated coverage on shares of KMG Chemicals in a report on Tuesday, November 21st. They set an “overweight” rating and a $63.00 target price for the company. ValuEngine raised shares of KMG Chemicals from a “hold” rating to a “buy” rating in a report on Wednesday. Finally, Zacks Investment Research raised shares of KMG Chemicals from a “sell” rating to a “hold” rating and set a $70.00 target price for the company in a report on Thursday, December 14th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $71.00.
KMG Chemicals (NYSE:KMG) last released its quarterly earnings results on Thursday, March 8th. The specialty chemicals company reported $1.04 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.32. The company had revenue of $113.90 million for the quarter, compared to analyst estimates of $112.57 million. KMG Chemicals had a net margin of 10.59% and a return on equity of 18.32%. The firm’s revenue was up 44.0% on a year-over-year basis. During the same quarter last year, the business earned $0.57 earnings per share. analysts forecast that KMG Chemicals, Inc. will post 3.17 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, March 19th. Investors of record on Monday, March 12th will be given a dividend of $0.03 per share. The ex-dividend date is Friday, March 9th. This represents a $0.12 annualized dividend and a yield of 0.17%. KMG Chemicals’s dividend payout ratio is presently 4.04%.
In related news, major shareholder David L. Hatcher sold 3,000 shares of the firm’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $64.65, for a total transaction of $193,950.00. Following the sale, the insider now owns 1,391,097 shares in the company, valued at $89,934,421.05. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder David L. Hatcher sold 15,000 shares of the firm’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $57.40, for a total transaction of $861,000.00. Following the sale, the insider now owns 896,097 shares in the company, valued at approximately $51,435,967.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 615,000 shares of company stock worth $38,639,820. 6.10% of the stock is owned by company insiders.
KMG Chemicals 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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