Alliancebernstein L.P. raised its stake in shares of KMG Chemicals, Inc. (NYSE:KMG) by 330.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 142,794 shares of the specialty chemicals company’s stock after acquiring an additional 109,614 shares during the quarter. Alliancebernstein L.P. owned approximately 0.92% of KMG Chemicals worth $10,790,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Teacher Retirement System of Texas acquired a new stake in shares of KMG Chemicals during the second quarter worth $208,000. Brookstone Capital Management acquired a new stake in shares of KMG Chemicals during the third quarter worth $294,000. Chicago Equity Partners LLC acquired a new stake in shares of KMG Chemicals during the second quarter worth $311,000. OMERS ADMINISTRATION Corp acquired a new stake in shares of KMG Chemicals during the second quarter worth $384,000. Finally, Metropolitan Life Insurance Co. NY raised its holdings in shares of KMG Chemicals by 24.7% during the second quarter. Metropolitan Life Insurance Co. NY now owns 5,300 shares of the specialty chemicals company’s stock worth $391,000 after purchasing an additional 1,049 shares during the period. Hedge funds and other institutional investors own 83.98% of the company’s stock.
KMG stock opened at $76.14 on Friday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.71 and a current ratio of 2.62. KMG Chemicals, Inc. has a fifty-two week low of $50.67 and a fifty-two week high of $79.35. The stock has a market capitalization of $1.18 billion, a P/E ratio of 17.58, a PEG ratio of 0.58 and a beta of 0.48.
KMG Chemicals (NYSE:KMG) last released its quarterly earnings data on Thursday, October 18th. The specialty chemicals company reported $1.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.98 by $0.28. KMG Chemicals had a net margin of 13.93% and a return on equity of 16.69%. As a group, research analysts forecast that KMG Chemicals, Inc. will post 4.64 earnings per share for the current fiscal year.
A number of analysts have weighed in on KMG shares. Zacks Investment Research cut shares of KMG Chemicals from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 15th. ValuEngine raised shares of KMG Chemicals from a “hold” rating to a “buy” rating in a report on Wednesday, August 15th. Gabelli cut shares of KMG Chemicals from a “buy” rating to a “hold” rating in a report on Thursday, August 16th. Seaport Global Securities cut shares of KMG Chemicals from a “buy” rating to a “neutral” rating in a report on Friday, September 14th. Finally, Fraser Mackenzie reaffirmed a “buy” rating on shares of KMG Chemicals in a report on Friday, November 2nd. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. KMG Chemicals has an average rating of “Hold” and an average price target of $76.00.
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KMG Chemicals Company Profile
KMG Chemicals, Inc, through its subsidiaries, manufactures, formulates, and distributes specialty chemicals and performance materials worldwide. The company's Electronic Chemicals segment is involved in the sale of high purity process chemicals primarily to etch and clean silicon wafers in the production of semiconductors, photovoltaics, and flat panel displays.
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