KMG Chemicals Inc. (KMG) Posts Earnings Results, Misses Estimates By $0.02 EPS
KMG Chemicals Inc. (NYSE:KMG) announced its quarterly earnings results on Thursday. The company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by $0.02. The business had revenue of $75.30 million for the quarter, compared to analyst estimates of $77.10 million. KMG Chemicals had a return on equity of 14.12% and a net margin of 6.11%.
KMG Chemicals (NYSE:KMG) traded down 0.73% during trading on Thursday, hitting $27.12. The stock had a trading volume of 42,653 shares. The firm has a market capitalization of $318.25 million, a PE ratio of 17.71 and a beta of 0.67. The firm has a 50 day moving average price of $27.83 and a 200-day moving average price of $25.54. KMG Chemicals has a 1-year low of $18.87 and a 1-year high of $29.45.
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 0.44%. The ex-dividend date is Thursday, October 6th. KMG Chemicals’s payout ratio is 7.84%.
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A number of institutional investors have recently made changes to their positions in the stock. BlackRock Advisors LLC boosted its position 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 valued at $124,000 after buying an additional 61 shares during the last quarter. Rhumbline Advisers boosted its position in shares of KMG Chemicals by 3.2% in the second quarter. Rhumbline Advisers now owns 12,744 shares of the company’s stock valued at $331,000 after buying an additional 392 shares during the last quarter. BlackRock Investment Management LLC boosted its position in shares of KMG Chemicals by 8.6% in the second quarter. BlackRock Investment Management LLC now owns 38,061 shares of the company’s stock valued at $989,000 after buying an additional 3,023 shares during the last quarter. Menta Capital LLC boosted its position in shares of KMG Chemicals by 19.7% in the second quarter. Menta Capital LLC now owns 30,273 shares of the company’s stock valued at $787,000 after buying an additional 4,982 shares during the last quarter. Finally, A.R.T. Advisors LLC acquired a new position in shares of KMG Chemicals during the second quarter valued at $202,000. 68.91% of the stock is currently owned by institutional investors and hedge funds.
Separately, Zacks Investment Research raised KMG Chemicals from a “sell” rating to a “hold” rating in a research 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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