Kellner Capital LLC purchased a new stake in KMG Chemicals, Inc. (NYSE:KMG) in the third quarter, HoldingsChannel.com reports. The firm purchased 52,800 shares of the specialty chemicals company’s stock, valued at approximately $3,990,000. KMG Chemicals makes up about 1.4% of Kellner Capital LLC’s portfolio, making the stock its 22nd biggest holding.

A number of other institutional investors have also added to or reduced their stakes in KMG. Principal Financial Group Inc. lifted its holdings in KMG Chemicals by 3.9% in the first quarter. Principal Financial Group Inc. now owns 312,639 shares of the specialty chemicals company’s stock valued at $18,743,000 after buying an additional 11,856 shares during the period. Allianz Asset Management GmbH raised its holdings in KMG Chemicals by 10.3% in the first quarter. Allianz Asset Management GmbH now owns 77,368 shares of the specialty chemicals company’s stock worth $4,638,000 after purchasing an additional 7,220 shares during the period. James Investment Research Inc. raised its holdings in KMG Chemicals by 7.0% in the second quarter. James Investment Research Inc. now owns 27,175 shares of the specialty chemicals company’s stock worth $2,005,000 after purchasing an additional 1,775 shares during the period. Kaizen Advisory LLC raised its holdings in KMG Chemicals by 297.5% in the second quarter. Kaizen Advisory LLC now owns 18,088 shares of the specialty chemicals company’s stock worth $1,335,000 after purchasing an additional 13,537 shares during the period. Finally, Hood River Capital Management LLC raised its holdings in KMG Chemicals by 4.1% in the second quarter. Hood River Capital Management LLC now owns 307,807 shares of the specialty chemicals company’s stock worth $22,710,000 after purchasing an additional 12,006 shares during the period. Institutional investors own 83.98% of the company’s stock.

KMG opened at $76.14 on Wednesday. The company has a current ratio of 2.62, a quick ratio of 1.71 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of 17.58, a PEG ratio of 0.58 and a beta of 0.48. KMG Chemicals, Inc. has a twelve month low of $50.67 and a twelve month high of $79.35.

KMG Chemicals (NYSE:KMG) last posted its earnings results on Thursday, October 18th. The specialty chemicals company reported $1.26 earnings per share for the quarter, topping the Thomson Reuters’ 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%. Research analysts predict that KMG Chemicals, Inc. will post 4.64 earnings per share for the current year.

Several research firms have weighed in on KMG. ValuEngine lowered shares of KMG Chemicals from a “buy” rating to a “hold” rating in a report on Tuesday, July 24th. Fraser Mackenzie reiterated a “buy” rating on shares of KMG Chemicals in a report on Friday, November 2nd. Zacks Investment Research upgraded shares of KMG Chemicals from a “hold” rating to a “buy” rating and set a $85.00 target price on the stock in a report on Thursday, October 4th. Gabelli lowered shares of KMG Chemicals from a “buy” rating to a “hold” rating in a report on Thursday, August 16th. Finally, Seaport Global Securities lowered shares of KMG Chemicals from a “buy” rating to a “neutral” rating in a report on Friday, September 14th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $76.00.

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KMG Chemicals 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.

Further Reading: Coverage Ratio

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Institutional Ownership by Quarter for KMG Chemicals (NYSE:KMG)

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