KMG Chemicals, Inc. (NYSE:KMG) posted its earnings results on Monday. The specialty chemicals company reported $0.69 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.16, Bloomberg Earnings reports. The business had revenue of $96.26 million during the quarter, compared to analyst estimates of $96.00 million. KMG Chemicals had a return on equity of 17.98% and a net margin of 7.09%. The company’s revenue was up 27.8% compared to the same quarter last year.
Shares of KMG Chemicals (NYSE KMG) opened at 58.23 on Wednesday. The company has a market cap of $692.30 million, a P/E ratio of 31.94 and a beta of 0.62. KMG Chemicals has a 52-week low of $26.33 and a 52-week high of $61.10. The company has a 50-day moving average price of $51.29 and a 200-day moving average price of $50.73.
The company also recently announced a quarterly dividend, which was paid on Monday, October 16th. Investors of record on Tuesday, October 10th were given a $0.03 dividend. The ex-dividend date was Friday, October 6th. This represents a $0.12 dividend on an annualized basis and a yield of 0.21%. KMG Chemicals’s payout ratio is 6.25%.
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In other news, major shareholder David L. Hatcher sold 9,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $51.81, for a total value of $466,290.00. Following the completion of the sale, the insider now directly owns 1,685,097 shares of the company’s stock, valued at approximately $87,304,875.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder David L. Hatcher sold 6,000 shares of the firm’s stock in a transaction that occurred on Friday, October 13th. The shares were sold at an average price of $54.77, for a total value of $328,620.00. The disclosure for this sale can be found here. Insiders have sold a total of 252,000 shares of company stock valued at $12,660,630 in the last 90 days. 6.90% of the stock is currently owned by company insiders.
A number of analysts have recently issued reports on KMG shares. BidaskClub upgraded KMG Chemicals from a “hold” rating to a “buy” rating in a research report on Tuesday, July 11th. Zacks Investment Research downgraded KMG Chemicals from a “buy” rating to a “hold” rating in a research report on Tuesday, August 15th.
KMG Chemicals Company Profile
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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