California Public Employees Retirement System boosted its stake in shares of KMG Chemicals Inc. (NYSE:KMG) by 33.3% during the second quarter, Holdings Channel reports. The institutional investor owned 45,200 shares of the company’s stock after buying an additional 11,300 shares during the period. California Public Employees Retirement System owned approximately 0.39% of KMG Chemicals worth $1,175,000 as of its most recent filing with the SEC.
Several other large investors have also recently added to or reduced their stakes in KMG. FNY Managed Accounts LLC purchased a new stake in KMG Chemicals during the second quarter valued at approximately $104,000. Emerald Acquisition Ltd. purchased a new stake in KMG Chemicals during the second quarter valued at approximately $264,000. American Century Companies Inc. increased its stake in KMG Chemicals by 109.6% in the second quarter. American Century Companies Inc. now owns 20,580 shares of the company’s stock valued at $535,000 after buying an additional 10,760 shares in the last quarter. Youngs Advisory Group Inc. increased 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 in the last quarter. Finally, Geode Capital Management LLC increased 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 in the last quarter. Hedge funds and other institutional investors own 68.91% of the company’s stock.
Shares of KMG Chemicals Inc. (NYSE:KMG) traded up 7.67% on Friday, hitting $29.20. The company had a trading volume of 140,628 shares. The firm’s 50 day moving average price is $27.84 and its 200-day moving average price is $25.60. KMG Chemicals Inc. has a 52 week low of $18.87 and a 52 week high of $30.14. The stock has a market capitalization of $342.66 million, a PE ratio of 19.07 and a beta of 0.67.
KMG Chemicals (NYSE:KMG) last issued its 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 net margin of 6.27% and a return on equity of 14.40%. Analysts forecast that KMG Chemicals Inc. will post $1.65 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 18th. Shareholders of record on Tuesday, October 11th will be issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.41%. The ex-dividend date of this dividend is Thursday, October 6th. KMG Chemicals’s dividend payout ratio (DPR) is currently 7.69%.
Separately, Zacks Investment Research upgraded KMG Chemicals from a “sell” rating to a “hold” rating in a report on Tuesday, August 16th.
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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