KMG Chemicals, Inc. (NYSE:KMG) declared a quarterly dividend on Thursday, December 7th, Wall Street Journal reports. Stockholders of record on Friday, December 22nd will be paid a dividend of 0.03 per share by the specialty chemicals company on Friday, January 5th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.23%. The ex-dividend date of this dividend is Thursday, December 21st.

KMG Chemicals has raised its dividend payment by an average of 10.1% per year over the last three years. KMG Chemicals has a dividend payout ratio of 4.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect KMG Chemicals to earn $3.21 per share next year, which means the company should continue to be able to cover its $0.12 annual dividend with an expected future payout ratio of 3.7%.

Shares of KMG Chemicals (KMG) traded down $0.87 during midday trading on Thursday, hitting $53.22. The stock had a trading volume of 96,700 shares, compared to its average volume of 101,825. The firm has a market cap of $831.13, a price-to-earnings ratio of 23.83 and a beta of 0.55. 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 has a fifty-two week low of $32.05 and a fifty-two week high of $61.10.

KMG Chemicals (NYSE:KMG) last released its earnings results on Monday, October 16th. The specialty chemicals company reported $0.69 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.16. The firm had revenue of $96.26 million for the quarter, compared to analyst estimates of $96.00 million. KMG Chemicals had a return on equity of 17.45% and a net margin of 7.09%. The business’s revenue for the quarter was up 27.8% compared to the same quarter last year. analysts predict that KMG Chemicals will post 2.76 earnings per share for the current year.

A number of research firms have issued reports on KMG. Zacks Investment Research lowered KMG Chemicals from a “hold” rating to a “sell” rating in a report on Tuesday, October 31st. BidaskClub lowered KMG Chemicals from a “sell” rating to a “strong sell” rating in a report on Saturday, August 12th. KeyCorp assumed coverage on KMG Chemicals in a report on Tuesday, November 21st. They set an “overweight” rating and a $63.00 price objective on the stock. Finally, ValuEngine lowered KMG Chemicals from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $50.00.

In other KMG Chemicals news, major shareholder David L. Hatcher sold 3,000 shares of KMG Chemicals stock in a transaction on Tuesday, October 17th. The stock was sold at an average price of $57.24, for a total value of $171,720.00. Following the completion of the transaction, the insider now owns 1,508,097 shares in the company, valued at approximately $86,323,472.28. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder David L. Hatcher sold 9,000 shares of KMG Chemicals stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $48.27, for a total value of $434,430.00. Following the completion of the transaction, the insider now owns 1,586,097 shares of the company’s stock, valued at approximately $76,560,902.19. The disclosure for this sale can be found here. Insiders have sold a total of 222,000 shares of company stock valued at $11,772,870 in the last 90 days. 6.10% of the stock is owned by corporate insiders.

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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.

Dividend History for KMG Chemicals (NYSE:KMG)

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