KMG Chemicals (NYSE:KMG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Thursday.

According to Zacks, “KMG Chemicals manufactures, markets and distributes specialty, niche chemicals. The company manufactures, markets and distributes three wood preserving chemicals, pentachlorophenol, creosote and sodium pentachlorophenate, to industrial customers engaged in the wood preserving business. The company’s customers use these preservatives to treat wood and supply the treated wood products to end-users in a variety of industries, principally the railroad, utility and construction industries. “

KMG has been the subject of several other research reports. KeyCorp reissued a “buy” rating and issued a $70.00 target price (up previously from $63.00) on shares of KMG Chemicals in a research note on Wednesday. ValuEngine downgraded shares of KMG Chemicals from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. KMG Chemicals has an average rating of “Hold” and an average price target of $53.50.

Shares of KMG Chemicals (KMG) traded down $0.92 during mid-day trading on Thursday, reaching $62.46. 321,012 shares of the company traded hands, compared to its average volume of 109,217. KMG Chemicals has a 12-month low of $36.18 and a 12-month high of $66.16. The firm has a market cap of $973.68, a P/E ratio of 24.18 and a beta of 0.55. The company has a quick ratio of 1.64, a current ratio of 2.87 and a debt-to-equity ratio of 0.99.

KMG Chemicals (NYSE:KMG) last announced its earnings results on Monday, December 11th. The specialty chemicals company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.20. KMG Chemicals had a net margin of 6.46% and a return on equity of 15.41%. The firm had revenue of $110.70 million during the quarter, compared to the consensus estimate of $106.60 million. The company’s revenue was up 44.7% compared to the same quarter last year. sell-side analysts predict that KMG Chemicals will post 2.76 EPS for the current year.

In other KMG Chemicals news, major shareholder David L. Hatcher sold 9,000 shares of KMG Chemicals stock in a transaction dated Wednesday, September 20th. The stock was sold at an average price of $49.45, for a total value of $445,050.00. Following the completion of the sale, the insider now owns 1,568,097 shares in the company, valued at approximately $77,542,396.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder David L. Hatcher sold 3,000 shares of KMG Chemicals stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $49.15, for a total value of $147,450.00. Following the completion of the sale, the insider now owns 1,568,097 shares of the company’s stock, valued at approximately $77,071,967.55. The disclosure for this sale can be found here. Insiders sold a total of 219,000 shares of company stock valued at $11,728,350 in the last 90 days. 6.10% of the stock is owned by company insiders.

Large investors have recently modified their holdings of the company. Creative Planning purchased a new stake in shares of KMG Chemicals during the 2nd quarter worth about $105,000. Legal & General Group Plc grew its holdings in shares of KMG Chemicals by 23.2% during the 2nd quarter. Legal & General Group Plc now owns 2,198 shares of the specialty chemicals company’s stock worth $106,000 after purchasing an additional 414 shares during the period. Oppenheimer Asset Management Inc. grew its holdings in shares of KMG Chemicals by 59.9% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 2,620 shares of the specialty chemicals company’s stock worth $128,000 after purchasing an additional 981 shares during the period. Victory Capital Management Inc. purchased a new stake in shares of KMG Chemicals during the 3rd quarter worth about $155,000. Finally, Hodges Capital Management Inc. purchased a new stake in shares of KMG Chemicals during the 3rd quarter worth about $221,000. Institutional investors and hedge funds own 56.20% of the company’s stock.

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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.

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