KMG Chemicals Inc. (KMG) Sees Large Volume Increase
Shares of KMG Chemicals Inc. (NYSE:KMG) saw an uptick in trading volume on Monday . 95,435 shares traded hands during mid-day trading, an increase of 19% from the previous session’s volume of 80,278 shares.The stock last traded at $26.59 and had previously closed at $26.56.
Separately, Zacks Investment Research lowered shares of KMG Chemicals from a “buy” rating to a “hold” rating in a report on Tuesday, June 14th.
The stock has a 50-day moving average of $24.34 and a 200-day moving average of $22.77. The stock has a market capitalization of $313.09 million and a PE ratio of 17.43.
KMG Chemicals (NYSE:KMG) last announced its quarterly earnings results on Thursday, June 9th. The company reported $0.41 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.02. The company had revenue of $75.20 million for the quarter, compared to the consensus estimate of $75 million. Equities research analysts forecast that KMG Chemicals Inc. will post $1.65 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, June 30th. Stockholders of record on Friday, June 17th were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend was Wednesday, June 15th.
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 SEC. The fund owned 111,998 shares of the company’s stock after buying an additional 16,564 shares during the period. GSA Capital Partners LLP owned approximately 0.96% of KMG Chemicals worth $2,578,000 as of its most recent SEC filing.
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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