KMG Chemicals (NYSE:KMG) was downgraded by stock analysts at ValuEngine from a “buy” rating to a “hold” rating in a report released on Tuesday.

Other research analysts have also issued reports about the company. Zacks Investment Research lowered KMG Chemicals from a “buy” rating to a “hold” rating in a research report on Wednesday, February 14th. Goldman Sachs Group began coverage on KMG Chemicals in a research report on Monday, January 22nd. They set a “neutral” rating and a $73.00 price target on the stock. Finally, KeyCorp began coverage on KMG Chemicals in a research report on Tuesday, November 21st. They set an “overweight” rating and a $63.00 price target on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. KMG Chemicals presently has an average rating of “Hold” and an average price target of $73.67.

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KMG Chemicals (NYSE KMG) opened at $65.96 on Tuesday. The firm has a market capitalization of $1,010.00, a price-to-earnings ratio of 28.93 and a beta of 0.37. KMG Chemicals has a 52-week low of $39.64 and a 52-week high of $70.60. The company has a current ratio of 2.87, a quick ratio of 1.92 and a debt-to-equity ratio of 0.99.

KMG Chemicals (NYSE:KMG) last posted its quarterly earnings results on Thursday, March 8th. The specialty chemicals company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.32. The firm had revenue of $113.90 million for the quarter, compared to analyst estimates of $112.57 million. KMG Chemicals had a return on equity of 18.32% and a net margin of 10.59%. KMG Chemicals’s quarterly revenue was up 44.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.57 earnings per share. equities analysts predict that KMG Chemicals will post 3.34 EPS for the current fiscal year.

In other KMG Chemicals news, major shareholder David L. Hatcher sold 45,000 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $57.74, for a total value of $2,598,300.00. Following the transaction, the insider now directly owns 896,097 shares of the company’s stock, valued at approximately $51,740,640.78. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder David L. Hatcher sold 9,000 shares of the company’s stock in a transaction dated Wednesday, December 20th. The stock was sold at an average price of $66.85, for a total value of $601,650.00. Following the completion of the transaction, the insider now directly owns 1,376,097 shares in the company, valued at $91,992,084.45. The disclosure for this sale can be found here. Insiders have sold 609,000 shares of company stock worth $38,279,340 over the last three months. 6.10% of the stock is owned by insiders.

Hedge funds have recently modified their holdings of the business. Earnest Partners LLC acquired a new position in KMG Chemicals in the 4th quarter worth about $112,000. Ramsey Quantitative Systems acquired a new position in KMG Chemicals in the 4th quarter worth about $138,000. Victory Capital Management Inc. acquired a new position in KMG Chemicals in the 3rd quarter worth about $155,000. Campbell & CO Investment Adviser LLC acquired a new position in KMG Chemicals in the 3rd quarter worth about $244,000. Finally, IPG Investment Advisors LLC acquired a new position in KMG Chemicals in the 4th quarter worth about $247,000. 81.01% of the stock is currently owned by institutional investors.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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