Zacks: KMG Chemicals, Inc. (KMG) Receives Consensus Recommendation of “Strong Buy” from Analysts

KMG Chemicals, Inc. (NYSE:KMG) has earned a consensus broker rating score of 1.00 (Strong Buy) from the three brokers that cover the company, Zacks Investment Research reports. Three analysts have rated the stock with a strong buy rating.

Brokers have set a 1 year consensus price target of $72.00 for the company and are anticipating that the company will post $0.72 earnings per share for the current quarter, according to Zacks. Zacks has also given KMG Chemicals an industry rank of 184 out of 265 based on the ratings given to its competitors.

Several equities analysts have recently weighed in on the company. KeyCorp restated a “buy” rating and issued a $70.00 target price (up previously from $63.00) on shares of KMG Chemicals in a research report on Wednesday, December 13th. ValuEngine downgraded KMG Chemicals from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Finally, Zacks Investment Research upgraded KMG Chemicals from a “sell” rating to a “hold” rating and set a $70.00 target price on the stock in a research report on Thursday, December 14th.

In related news, major shareholder David L. Hatcher sold 9,000 shares of KMG Chemicals stock in a transaction that occurred on Wednesday, December 20th. The stock was sold at an average price of $66.85, for a total transaction of $601,650.00. Following the transaction, the insider now owns 1,376,097 shares in the company, valued at $91,992,084.45. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder David L. Hatcher sold 3,000 shares of KMG Chemicals stock in a transaction that occurred on Tuesday, October 17th. The stock was sold at an average price of $57.24, for a total value of $171,720.00. Following the transaction, the insider now owns 1,508,097 shares in the company, valued at approximately $86,323,472.28. The disclosure for this sale can be found here. In the last 90 days, insiders sold 393,000 shares of company stock worth $24,315,180. Company insiders own 6.10% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Legal & General Group Plc lifted its position in KMG Chemicals by 23.2% during the second quarter. Legal & General Group Plc now owns 2,198 shares of the specialty chemicals company’s stock worth $106,000 after buying an additional 414 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its position in KMG Chemicals by 59.9% during the second quarter. Oppenheimer Asset Management Inc. now owns 2,620 shares of the specialty chemicals company’s stock worth $128,000 after buying an additional 981 shares in the last quarter. Victory Capital Management Inc. purchased a new position in KMG Chemicals during the third quarter worth approximately $155,000. Hodges Capital Management Inc. purchased a new position in KMG Chemicals during the third quarter worth approximately $221,000. Finally, Cubist Systematic Strategies LLC purchased a new position in KMG Chemicals during the second quarter worth approximately $242,000. Hedge funds and other institutional investors own 56.17% of the company’s stock.

Shares of KMG Chemicals (NYSE:KMG) traded down $1.27 on Friday, reaching $65.76. The company’s stock had a trading volume of 246,783 shares, compared to its average volume of 156,759. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.92 and a current ratio of 2.87. KMG Chemicals has a one year low of $36.29 and a one year high of $68.13. The firm has a market capitalization of $1,010.86, a price-to-earnings ratio of 34.43 and a beta of 0.53.

KMG Chemicals (NYSE:KMG) last issued its quarterly earnings data on Monday, December 11th. The specialty chemicals company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.63 by $0.20. KMG Chemicals had a return on equity of 15.41% and a net margin of 6.46%. The company had revenue of $110.70 million for the quarter, compared to analyst estimates of $106.60 million. KMG Chemicals’s revenue was up 44.7% on a year-over-year basis. analysts anticipate that KMG Chemicals will post 3.17 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, January 5th. Stockholders of record on Friday, December 22nd were given a $0.03 dividend. The ex-dividend date of this dividend was Thursday, December 21st. This represents a $0.12 annualized dividend and a dividend yield of 0.18%. KMG Chemicals’s dividend payout ratio (DPR) is presently 6.28%.

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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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