KeyCorp Equities Analysts Decrease Earnings Estimates for KMG Chemicals, Inc. (KMG)
KMG Chemicals, Inc. (NYSE:KMG) – Stock analysts at KeyCorp cut their Q2 2018 earnings per share (EPS) estimates for shares of KMG Chemicals in a research report issued to clients and investors on Tuesday. KeyCorp analyst M. Sison now forecasts that the specialty chemicals company will post earnings per share of $0.63 for the quarter, down from their prior estimate of $0.73. KeyCorp has a “Buy” rating and a $70.00 price objective on the stock. KeyCorp also issued estimates for KMG Chemicals’ Q3 2018 earnings at $0.76 EPS, Q4 2018 earnings at $0.70 EPS and FY2018 earnings at $2.90 EPS.
A number of other equities analysts have also commented on KMG. Zacks Investment Research lowered KMG Chemicals from a “hold” rating to a “sell” rating in a research note on Tuesday, October 31st. ValuEngine lowered KMG Chemicals from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the stock. KMG Chemicals presently has a consensus rating of “Hold” and an average target price of $53.50.
KMG Chemicals (NYSE:KMG) last posted its quarterly earnings data on Monday, December 11th. The specialty chemicals company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.20. The company had revenue of $110.70 million for the quarter, compared to analyst estimates of $106.60 million. KMG Chemicals had a return on equity of 15.41% and a net margin of 6.46%. The company’s quarterly revenue was up 44.7% on a year-over-year basis.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 5th. Investors of record on Friday, December 22nd will be issued a $0.03 dividend. The ex-dividend date of this dividend is Thursday, December 21st. This represents a $0.12 dividend on an annualized basis and a yield of 0.19%. KMG Chemicals’s dividend payout ratio is presently 6.28%.
In other KMG Chemicals news, major shareholder David L. Hatcher sold 12,000 shares of the stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $54.83, for a total value of $657,960.00. Following the completion of the sale, the insider now directly owns 1,499,097 shares in the company, valued at $82,195,488.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder David L. Hatcher sold 3,000 shares of the stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $64.65, for a total value of $193,950.00. Following the completion of the sale, the insider now owns 1,391,097 shares of the company’s stock, valued at $89,934,421.05. The disclosure for this sale can be found here. Insiders sold 219,000 shares of company stock valued at $11,728,350 in the last quarter. 6.10% of the stock is currently owned by corporate insiders.
Several large investors have recently bought and sold shares of KMG. Vanguard Group Inc. grew its holdings in shares of KMG Chemicals by 6.2% during the first quarter. Vanguard Group Inc. now owns 341,457 shares of the specialty chemicals company’s stock worth $15,731,000 after buying an additional 19,856 shares in the last quarter. Geode Capital Management LLC boosted its position in KMG Chemicals by 2.6% during the first quarter. Geode Capital Management LLC now owns 74,167 shares of the specialty chemicals company’s stock valued at $3,415,000 after purchasing an additional 1,878 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in KMG Chemicals by 10.5% during the first quarter. Goldman Sachs Group Inc. now owns 10,791 shares of the specialty chemicals company’s stock valued at $497,000 after purchasing an additional 1,022 shares during the last quarter. Creative Planning acquired a new position in KMG Chemicals during the second quarter valued at approximately $105,000. Finally, Russell Investments Group Ltd. boosted its position in KMG Chemicals by 894.2% during the second quarter. Russell Investments Group Ltd. now owns 34,609 shares of the specialty chemicals company’s stock valued at $1,685,000 after purchasing an additional 31,128 shares during the last quarter. Institutional investors and hedge funds own 56.20% 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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