KMG Chemicals, Inc. (KMG) Expected to Post FY2021 Earnings of $4.05 Per Share
KMG Chemicals, Inc. (NYSE:KMG) – Research analysts at Gabelli issued their FY2021 earnings estimates for shares of KMG Chemicals in a research note issued to investors on Friday. Gabelli analyst R. Morbelli expects that the specialty chemicals company will earn $4.05 per share for the year.
Several other research analysts have also weighed in on the stock. BidaskClub upgraded shares of KMG Chemicals from a “hold” rating to a “buy” rating in a report on Tuesday, July 11th. Zacks Investment Research lowered shares of KMG Chemicals from a “buy” rating to a “hold” rating in a report on Tuesday, August 15th.
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KMG Chemicals (NYSE:KMG) opened at 54.82 on Monday. The stock has a market cap of $652.69 million, a PE ratio of 28.55 and a beta of 0.62. KMG Chemicals has a 1-year low of $26.33 and a 1-year high of $61.10. The company’s 50 day moving average is $52.28 and its 200-day moving average is $51.03.
KMG Chemicals (NYSE:KMG) last released its 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. KMG Chemicals had a net margin of 7.09% and a return on equity of 17.45%. The company had revenue of $96.26 million for the quarter, compared to analysts’ expectations of $96.00 million. The company’s revenue for the quarter was up 27.8% on a year-over-year basis.
The business also recently disclosed 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 annualized dividend and a dividend yield of 0.22%. KMG Chemicals’s payout ratio is currently 6.25%.
In other news, major shareholder David L. Hatcher sold 3,000 shares of the stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $51.96, for a total transaction of $155,880.00. Following the transaction, the insider now directly owns 1,685,097 shares in the company, valued at approximately $87,557,640.12. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder David L. Hatcher sold 6,000 shares of the stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $50.91, for a total transaction of $305,460.00. Following the transaction, the insider now owns 1,676,097 shares in the company, valued at $85,330,098.27. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 255,000 shares of company stock worth $12,890,280. Insiders own 6.90% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Russell Investments Group Ltd. raised its holdings in KMG Chemicals by 28.8% in the first quarter. Russell Investments Group Ltd. now owns 3,481 shares of the specialty chemicals company’s stock valued at $160,000 after buying an additional 778 shares during the period. Wells Fargo & Company MN raised its holdings in KMG Chemicals by 6.1% in the first quarter. Wells Fargo & Company MN now owns 10,738 shares of the specialty chemicals company’s stock valued at $494,000 after buying an additional 615 shares during the period. State Board of Administration of Florida Retirement System purchased a new position in KMG Chemicals in the first quarter valued at approximately $209,000. Bank of New York Mellon Corp raised its holdings in KMG Chemicals by 2.3% in the first quarter. Bank of New York Mellon Corp now owns 56,561 shares of the specialty chemicals company’s stock valued at $2,606,000 after buying an additional 1,262 shares during the period. Finally, Prudential Financial Inc. purchased a new position in KMG Chemicals in the first quarter valued at approximately $1,784,000. Institutional investors and hedge funds own 73.72% 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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