KMG Chemicals Inc. (NYSE:KMG) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and 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. “
KMG Chemicals (NYSE:KMG) traded down 0.51% during midday trading on Monday, reaching $29.05. The company had a trading volume of 63,045 shares. KMG Chemicals has a 12-month low of $18.87 and a 12-month high of $30.14. The stock has a 50-day moving average price of $27.88 and a 200 day moving average price of $25.67. The company has a market capitalization of $340.90 million, a PE ratio of 18.97 and a beta of 0.67.
KMG Chemicals (NYSE:KMG) last posted its quarterly earnings data on Thursday, October 13th. The company reported $0.38 EPS for the quarter, missing the Zacks’ consensus estimate of $0.40 by $0.02. KMG Chemicals had a return on equity of 14.40% and a net margin of 6.27%. The company had revenue of $75.30 million for the quarter. Equities analysts forecast that KMG Chemicals will post $1.65 EPS for the current year.
The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date of this dividend is Thursday, October 6th. KMG Chemicals’s dividend payout ratio is presently 7.69%.
Large investors have recently modified their holdings of the stock. BlackRock Advisors LLC increased its stake in shares of KMG Chemicals by 1.3% in the second quarter. BlackRock Advisors LLC now owns 4,789 shares of the company’s stock worth $124,000 after buying an additional 61 shares in the last quarter. Rhumbline Advisers increased its stake in shares of KMG Chemicals by 3.2% in the second quarter. Rhumbline Advisers now owns 12,744 shares of the company’s stock worth $331,000 after buying an additional 392 shares in the last quarter. Youngs Advisory Group Inc. increased its stake in shares of KMG Chemicals by 2.5% in the second quarter. Youngs Advisory Group Inc. now owns 27,607 shares of the company’s stock worth $718,000 after buying an additional 685 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of KMG Chemicals by 1.3% in the first quarter. Geode Capital Management LLC now owns 52,391 shares of the company’s stock worth $1,208,000 after buying an additional 690 shares in the last quarter. Finally, Acrospire Investment Management LLC increased its stake in shares of KMG Chemicals by 65.5% in the second quarter. Acrospire Investment Management LLC now owns 5,027 shares of the company’s stock worth $131,000 after buying an additional 1,989 shares in the last quarter. 68.92% of the stock is currently owned by hedge funds and other institutional investors.
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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