Zacks Investment Research downgraded shares of KMG Chemicals Inc. (NYSE:KMG) from a hold rating to a sell rating in a research note published on Monday morning.
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) opened at 29.27 on Monday. The stock has a market cap of $343.48 million, a PE ratio of 19.12 and a beta of 0.67. KMG Chemicals has a 52-week low of $18.87 and a 52-week high of $30.14. The firm has a 50-day moving average price of $27.88 and a 200 day moving average price of $25.67.
KMG Chemicals (NYSE:KMG) last released its quarterly earnings results on Thursday, October 13th. The company reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by $0.02. The business 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%. On average, analysts forecast that KMG Chemicals will post $1.65 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 18th. Stockholders of record on Tuesday, October 11th will be given a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.41%. The ex-dividend date is Thursday, October 6th. KMG Chemicals’s dividend payout ratio is currently 7.69%.
Several hedge funds and other institutional investors have recently made changes to their positions in KMG. Trigran Investments Inc. raised its position in shares of KMG Chemicals by 2.2% in the second quarter. Trigran Investments Inc. now owns 1,747,899 shares of the company’s stock valued at $45,428,000 after buying an additional 38,138 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of KMG Chemicals by 5.4% in the second quarter. Dimensional Fund Advisors LP now owns 490,629 shares of the company’s stock valued at $12,751,000 after buying an additional 25,325 shares in the last quarter. Brown Advisory Inc. raised its position in shares of KMG Chemicals by 8.8% in the second quarter. Brown Advisory Inc. now owns 333,876 shares of the company’s stock valued at $8,677,000 after buying an additional 26,927 shares in the last quarter. Chartwell Investment Partners LLC purchased a new position in shares of KMG Chemicals during the second quarter valued at about $4,846,000. Finally, Algert Global LLC raised its position in shares of KMG Chemicals by 150.2% in the third quarter. Algert Global LLC now owns 121,946 shares of the company’s stock valued at $3,455,000 after buying an additional 73,205 shares in the last quarter. 68.92% of the stock is owned by hedge funds and other institutional investors.
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.