Goldman Sachs Group Inc. decreased its position in KMG Chemicals, Inc. (NYSE:KMG) by 9.6% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 9,760 shares of the specialty chemicals company’s stock after selling 1,031 shares during the period. Goldman Sachs Group Inc. owned about 0.08% of KMG Chemicals worth $475,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Wells Fargo & Company MN boosted its stake in shares of KMG Chemicals by 2,650.2% during the 2nd quarter. Wells Fargo & Company MN now owns 295,319 shares of the specialty chemicals company’s stock valued at $14,373,000 after buying an additional 284,581 shares during the period. Acadian Asset Management LLC boosted its stake in shares of KMG Chemicals by 108.7% during the 2nd quarter. Acadian Asset Management LLC now owns 402,356 shares of the specialty chemicals company’s stock valued at $19,582,000 after buying an additional 209,577 shares during the period. Numeric Investors LLC boosted its stake in shares of KMG Chemicals by 82.6% during the 2nd quarter. Numeric Investors LLC now owns 261,829 shares of the specialty chemicals company’s stock valued at $12,743,000 after buying an additional 118,440 shares during the period. EAM Investors LLC acquired a new stake in shares of KMG Chemicals during the 2nd quarter valued at $3,533,000. Finally, AJO LP acquired a new stake in shares of KMG Chemicals during the 2nd quarter valued at $2,689,000. 57.67% of the stock is owned by hedge funds and other institutional investors.
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Shares of KMG Chemicals, Inc. (KMG) opened at $54.34 on Tuesday. The stock has a market cap of $813.61, a price-to-earnings ratio of 23.33 and a beta of 0.56. KMG Chemicals, Inc. has a 52 week low of $30.90 and a 52 week high of $61.10. The company has a debt-to-equity ratio of 3.01, a quick ratio of 1.64 and a current ratio of 2.52.
KMG Chemicals (NYSE:KMG) last released its quarterly earnings results on Monday, October 16th. The specialty chemicals company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.16. The business had revenue of $96.26 million for the quarter, compared to the consensus estimate of $96.00 million. KMG Chemicals had a net margin of 7.09% and a return on equity of 17.45%. The business’s quarterly revenue was up 27.8% compared to the same quarter last year. equities research analysts expect that KMG Chemicals, Inc. will post 2.77 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Tuesday, October 10th were issued a dividend of $0.03 per share. The ex-dividend date was Friday, October 6th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.22%. KMG Chemicals’s dividend payout ratio is currently 6.25%.
In other news, major shareholder David L. Hatcher sold 6,000 shares of the firm’s stock in a transaction on Friday, November 10th. The shares were sold at an average price of $52.13, for a total transaction of $312,780.00. Following the transaction, the insider now owns 1,454,097 shares in the company, valued at approximately $75,802,076.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder David L. Hatcher sold 12,000 shares of the firm’s stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $54.83, for a total transaction of $657,960.00. Following the transaction, the insider now owns 1,499,097 shares in the company, valued at approximately $82,195,488.51. The disclosure for this sale can be found here. Insiders have sold a total of 240,000 shares of company stock worth $12,350,280 in the last 90 days. 6.10% of the stock is owned by insiders.
A number of equities research analysts have issued reports on KMG shares. BidaskClub lowered shares of KMG Chemicals from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Zacks Investment Research lowered shares of KMG Chemicals from a “hold” rating to a “sell” rating in a research note on Tuesday, October 31st.
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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