KMG Chemicals, Inc. to Post FY2017 Earnings of $2.11 Per Share, Seaport Global Securities Forecasts (KMG)
KMG Chemicals, Inc. (NYSE:KMG) – Equities researchers at Seaport Global Securities increased their FY2017 EPS estimates for KMG Chemicals in a note issued to investors on Monday. Seaport Global Securities analyst M. Harrison now expects that the specialty chemicals company will post earnings of $2.11 per share for the year, up from their prior forecast of $2.04. Seaport Global Securities also issued estimates for KMG Chemicals’ Q4 2017 earnings at $0.53 EPS, Q1 2018 earnings at $0.75 EPS, Q2 2018 earnings at $0.73 EPS, Q3 2018 earnings at $0.80 EPS, Q4 2018 earnings at $0.91 EPS and FY2018 earnings at $3.19 EPS.
KMG Chemicals (NYSE:KMG) last issued its earnings results on Friday, June 9th. The specialty chemicals company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.06. The business had revenue of $81.60 million during the quarter, compared to analyst estimates of $79.78 million. KMG Chemicals had a return on equity of 16.02% and a net margin of 7.05%. KMG Chemicals’s revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.41 earnings per share. ILLEGAL ACTIVITY WARNING: “KMG Chemicals, Inc. to Post FY2017 Earnings of $2.11 Per Share, Seaport Global Securities Forecasts (KMG)” was posted by American Banking News and is the sole property of of American Banking News. If you are accessing this report on another website, it was illegally stolen and reposted in violation of US & international copyright and trademark laws. The legal version of this report can be accessed at https://www.americanbankingnews.com/2017/06/13/kmg-chemicals-inc-to-post-fy2017-earnings-of-2-11-per-share-seaport-global-securities-forecasts-kmg.html.
Separately, Gabelli upgraded shares of KMG Chemicals from a “hold” rating to a “buy” rating in a research report on Monday, May 1st.
KMG Chemicals (KMG) opened at 52.47 on Tuesday. The company has a 50 day moving average price of $55.21 and a 200-day moving average price of $43.24. The firm has a market capitalization of $623.71 million, a price-to-earnings ratio of 28.35 and a beta of 0.61. KMG Chemicals has a 52 week low of $23.27 and a 52 week high of $61.10.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 23rd. Investors of record on Tuesday, June 13th will be given a dividend of $0.03 per share. The ex-dividend date is Friday, June 9th. This represents a $0.12 dividend on an annualized basis and a yield of 0.23%. KMG Chemicals’s payout ratio is presently 6.67%.
In related news, major shareholder David L. Hatcher sold 6,000 shares of the business’s stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $56.00, for a total transaction of $336,000.00. Following the transaction, the insider now directly owns 1,778,097 shares in the company, valued at $99,573,432. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Ernest C. Kremling II sold 1,850 shares of the business’s stock in a transaction dated Thursday, March 16th. The stock was sold at an average price of $42.85, for a total transaction of $79,272.50. Following the transaction, the vice president now owns 33,299 shares in the company, valued at $1,426,862.15. The disclosure for this sale can be found here. Insiders have sold 164,876 shares of company stock worth $7,763,411 over the last 90 days. 6.90% of the stock is currently owned by company insiders.
Institutional investors have recently bought and sold shares of the company. Bessemer Group Inc. raised its position in KMG Chemicals by 6.1% in the fourth quarter. Bessemer Group Inc. now owns 19,000 shares of the specialty chemicals company’s stock valued at $739,000 after buying an additional 1,100 shares during the last quarter. State Street Corp raised its position in KMG Chemicals by 3.0% in the fourth quarter. State Street Corp now owns 139,844 shares of the specialty chemicals company’s stock valued at $5,439,000 after buying an additional 4,038 shares during the last quarter. Dimensional Fund Advisors LP raised its position in KMG Chemicals by 4.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 539,465 shares of the specialty chemicals company’s stock valued at $20,980,000 after buying an additional 25,228 shares during the last quarter. Martingale Asset Management L P raised its position in KMG Chemicals by 53.7% in the fourth quarter. Martingale Asset Management L P now owns 60,433 shares of the specialty chemicals company’s stock valued at $2,351,000 after buying an additional 21,116 shares during the last quarter. Finally, Trexquant Investment LP purchased a new position in KMG Chemicals during the fourth quarter valued at $266,000. Hedge funds and other institutional investors own 70.01% of the company’s stock.
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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