KMG Chemicals Inc. (NYSE:KMG) shares shot up 1.8% on Wednesday . The stock traded as high as $27.87 and last traded at $27.68, with a volume of 56,479 shares traded. The stock had previously closed at $27.20.

Separately, Zacks Investment Research downgraded KMG Chemicals from a “buy” rating to a “hold” rating in a research note on Tuesday, June 14th.

The stock has a market capitalization of $323.18 million and a PE ratio of 17.99. The company has a 50 day moving average of $24.84 and a 200 day moving average of $22.84.

KMG Chemicals (NYSE:KMG) last announced its earnings results on Thursday, June 9th. The company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.02. The company earned $75.20 million during the quarter, compared to analysts’ expectations of $75 million. On average, equities analysts predict that KMG Chemicals Inc. will post $1.65 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, June 30th. Shareholders of record on Friday, June 17th were paid a $0.03 dividend. The ex-dividend date of this dividend was Wednesday, June 15th. This represents a $0.12 annualized dividend and a dividend yield of 0.44%.

An institutional investor recently raised its position in KMG Chemicals stock. GSA Capital Partners LLP increased its stake in shares of KMG Chemicals Inc. (NYSE:KMG) by 17.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 111,998 shares of the company’s stock after buying an additional 16,564 shares during the period. GSA Capital Partners LLP owned 0.96% of KMG Chemicals worth $2,578,000 at the end of the most recent quarter.

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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